January 11, 2019 / 4:01 PM / 5 months ago

BUZZ-Corus Entertainment: Gains after television unit profit rises

** Shares of Canadian media company up 4.5 pct at C$5.60

** Profit at Corus Entertainment’s television business rises ~10 pct to C$184.6 mln in Q1

** Advertising rev for the unit rose 4 pct

** “We returned to growth in television advertising revenue, driven primarily by a strong fall schedule and a significant improvement in television advertising demand” - Corus CEO Doug Murphy

** Total rev rises to C$467.5 mln from C$457.4 mln.

** Shares of Corus plunged ~60 pct in 2018 (Reporting by Shradha Singh in Bengaluru)

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