Corus Delivers Revenue, Profit Gains

TORONTO, July 9: Corus Entertainment has posted revenue and
profit gains for the three months ended May 31, 2008, led by the strength of
its broadcasting businesses.

Consolidated revenues were up 5 percent to C$207.8 million,
with a net income of C$37.7 million and earnings per share of C$0.45,
reflecting a 29-percent increase.

The company’s president and CEO, John Cassaday, commented,
"This was another strong quarter for Corus Entertainment, meeting our
expectations. Once again, we delivered excellent results from our television
division; solid revenue performance from all of our divisions; and continued
excellent overall cost control. We remain very optimistic about our outlook,
particularly given the growth opportunities in the expanding women's segment of
specialty television and continued strong economic performance in western
Canada, supporting our radio and premium television businesses."

Corus Television contributed quarterly revenues of C$114.6
million, up 5 percent from last year, led by specialty advertising growth of 2
percent and subscriber revenue growth of 2 percent. Quarterly segment profit
increased by 8 percent to C$49.6 million. And Corus Content revenues gained 12
percent to C$16.3 million, posting a profit of C$3.7 million, compared to
C$100,000 last year.

—By Mansha Daswani