Canada's Corus profit halves due to weak radio business

Thu Oct 24, 2013 7:19am EDT
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Oct 24 (Reuters) - Canadian media company Corus Entertainment Inc's profit nearly halved as a rise in specialty advertisement revenue failed to offset weakness in its radio division.

Net profit attributable to shareholders fell to C$11.9 million, or 14 Canadian cents per share, for the quarter ended Aug. 31, from C$23.3 million, or 28 Canadian cents per share, a year earlier.

Consolidated revenue fell marginally to C$193.6 million ($186 million).

Corus is controlled by the Shaw family, which also runs cable company Shaw Communications Inc.