Corus reports wider Q4 loss on lower advertising revenue amid ‘industry challenges’

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TORONTO — Lower-than-expected television ad revenue weighed on Corus Entertainment Inc.’s latest results, a trend it expects to continue into next year.

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The Toronto-based radio and television broadcaster said it had anticipated TV advertising revenue to fall about 20 per cent year-over-year in its fourth quarter due to lingering geopolitical and economic uncertainty. But it came in slightly weaker than that, falling 23 per cent from the prior year to $88.7 million.

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“Our fourth-quarter results reflect television advertising revenues that were modestly lower than our expectations, even as industry challenges persisted,” chief executive John Gossling said in a press release.

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“By continuing our focus on finding efficiencies, we once again captured meaningful cost savings this quarter as we have throughout the year.”

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The company noted that it expects economic uncertainty, coupled with the ongoing shift in advertising demand to digital platforms, to continue to drag on its results.

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The company reported a loss of $277.1 million attributable to shareholders in its latest quarter as it took a $263.6 million non-cash impairment charge and saw its revenue fall 14 per cent.

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The loss amounted to $1.39 per diluted share for the quarter ended Aug. 31 compared with a loss of $25.7 million or 13 cents per diluted share in the same quarter last year.

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On an adjusted basis, Corus says it lost 36 cents per share in its latest quarter compared with a loss of two cents per share a year earlier.

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Revenue for the quarter totalled $232.1 million, down from $269.4 million a year earlier.

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RBC analyst Drew McReynolds said in a note to clients that the company’s latest results and outlook were below expectations, and viewed it as “negative for the shares at current levels.”

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Corus, which owns specialty television services, radio stations and conventional television stations, as well as digital and streaming platforms, also said that it has reached an agreement to amend its credit facility to increase the maximum amount it can borrow on a “revolving” basis to $125 million from $75 million.

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The company has been on the hunt for cost savings, and slashed seven per cent of employee costs in its previous quarter.

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The company said at the time that the job losses were part of an overall nine per cent reduction in general and administrative expenses during its third quarter, which totalled $10 million in cost savings.

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During the previous quarter, Gossling highlighted a CRTC decision that confirmed Corus’ eligibility to receive funding from the Independent Local News Fund. At the time, the company was awaiting details on how much financial assistance it would be able to get.

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This report by The Canadian Press was first published Oct. 30, 2025.

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Companies in this story: (TSX:CJR.B)

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