Lower television revenue drags on Corus Entertainment
(Reuters) - Canadian media company Corus Entertainment Inc (CJRb.TO: Quote) on Monday reported a fall in quarterly revenue, hurt by lower sales at its television segment.
Revenue at the company's television business, which brings in about 76 percent of total sales, fell 6 percent. Total revenue fell 5 percent to C$226.1 million.
Corus sells subscriptions to its pay TV business - Movie Central, which includes HBO Canada, via cable and satellite companies. It also owns several radio stations.
Net income attributable to shareholders rose to C$54.0 million ($54.79 million), or 62 Canadian cents per share, in the first quarter from C$52.7 million, or 61 Canadian cents per share, a year earlier.
The company, whose main rival is Canadian broadcaster Astral Media Inc ACMa.TO, also raised its monthly dividend by 6.25 percent.
Shares of Corus, which focuses on content for children and women, closed at C$24.23 on the Toronto Stock Exchange on Monday.
($1 = 0.9857 Canadian dollars)
(Reporting by Sagarika Jaisinghani in Bangalore; Editing by Gary Hill and Bob Burgdorfer)
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