Corus Entertainment Inc. CJR-B-T reported its second-quarter profit fell compared with a year ago as its revenue edged higher.
Corus CEO Doug Murphy says the results reflect strong subscriber revenue gains and a recovery in its radio business, offset primarily by lower timing-related content licensing revenues.
The television and radio broadcaster says its net income attributable to shareholders totalled $16.2 million or eight cents per diluted share for the quarter ended Feb. 28, down from $35.3 million or 17 cents per diluted share a year earlier.
Revenue for the three-month period totalled $361.7 million, up from $358.9 million.
On Thursday, Corus announced what it called its largest U.S. distribution deal ever with streaming service Hulu.
The multiyear agreement includes over 400 episodes of lifestyle, renovation, unscripted and crime programming.
Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.