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Press release from CNW Group

Corus Entertainment Provides Fiscal 2012 Guidance

Wednesday, November 30, 2011

Corus Entertainment Provides Fiscal 2012 Guidance08:45 EST Wednesday, November 30, 2011TORONTO, Nov. 30, 2011 /CNW/ - Corus Entertainment Inc. (TSX: CJR.B) updates investors today on the Company's fiscal 2012 strategic priorities and provides near-term financial guidance for the 2012 fiscal year."Great and trusted brands, access to outstanding programming, coupled with a strong, committed and stable employee base and leadership team, gives us confidence we can continue our strong growth in fiscal 2012," said John Cassaday, President and Chief Executive Officer, Corus Entertainment."For fiscal 2012, we are targeting consolidated segment profit of $300 million to $310 million and free cash flow in excess of $125 million. Innovative product offerings, such as ABC Spark and OWN, will attract larger audiences and positively impact our advertising revenues," added Cassaday.A meeting with analysts and investors will take place at 9 a.m. ET today to review 2012 strategic priorities. A live webcast of the presentation along with the accompanying PowerPoint slides can be accessed through the Company's website www.corusent.com in the Investor Relations section. The full audio presentation and PowerPoint slides will also be archived on the Company's website under "Investor Relations".Corus Entertainment Inc. reports in Canadian dollars.About Corus Entertainment Inc.Corus Entertainment Inc. is a Canadian-based media and entertainment company. Corus is a market leader in specialty television and radio with additional assets in pay television, television broadcasting, children's book publishing and animation. The Company's multimedia entertainment brands include YTV, Treehouse, Nickelodeon (Canada), W Network, OWN: Oprah Winfrey Network (Canada), CosmoTV, Sundance Channel (Canada), Movie Central, HBO Canada, Nelvana, Kids Can Press and radio stations including CKNW AM 980, 99.3 The FOX, Country 105, 630 CHED, Q107 and 102.1 the Edge. Corus creates engaging branded entertainment experiences for its audiences across multiple platforms. A publicly traded company, Corus is listed on the Toronto Stock Exchange (CJR.B). Experience Corus on the web at www.corusent.com.This press release contains forward-looking information and should be read subject to the following cautionary language:To the extent any statements made in this report contain information that is not historical, these statements are forward-looking statements and may be forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements").  These forward-looking statements related to, among other things, our objectives, goals, strategies, intentions, plans, estimates and outlook, including advertising, distribution, merchandise and subscription revenues, operating costs and tariffs, taxes and fees, and can generally be identified by the use of the words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions.  In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.  Although Corus believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties and undue reliance should not be placed on such statements.  Certain material factors or assumptions are applied in making forward-looking statements, including without limitation factors and assumptions regarding advertising, distribution, merchandise and subscription revenues, operating costs and tariffs, taxes and fees and actual results may differ materially from those expressed or implied in such statements.  Important factors that could cause actual results to differ materially from these expectations include, among other things: our ability to attract and retain advertising revenues; audience acceptance of our television programs and cable networks; our ability to recoup production costs, the availability of tax credits and the existence of co-production treaties; our ability to compete in any of the industries in which we do business; the opportunities (or lack thereof) that may be presented to and pursued by us; conditions in the entertainment, information and communications industries and technological developments therein; changes in laws or regulations or the interpretation or application of those laws and regulations; our ability to integrate and realize anticipated benefits from our acquisitions and to effectively manage our growth; our ability to successfully defend ourselves against litigation matters arising out of the ordinary course of business;  and changes in accounting standards. Additional information about these factors and about the material assumptions underlying such forward-looking statements may be found in our Annual Information Form.  Corus cautions that the foregoing list of important factors that may affect future results is not exhaustive.  When relying on our forward-looking statements to make decisions with respect to Corus, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Unless otherwise required by applicable securities laws, we disclaim any intention or obligation to publicly update or revise any forward-looking statements whether as a result of new information, events or circumstances that arise after the date thereof or otherwise.For further information: John Cassaday        Tom Peddie        Sally TindalPresident and Chief Executive Officer        Executive Vice President and Chief         Director, CommunicationsCorus Entertainment Inc.        Financial Officer          Corus Entertainment Inc.416.479.6018        Corus Entertainment Inc.         416.479.6107         416.479.6080