Media Beat
Media Beat

Media Beat: July 17, 2017

Corus posts $67M Q3 profit

Corus Entertainment Inc had a $66.7-million profit in Q3, as last year's acquisition of the Global TV network and a host of specialty channels helped boost revenue.

The Toronto-based company had $461.6M  of revenue for the three months ending May 31.

That's up from $360.8M in last year's fiscal Q3, when Corus completed the purchase of Shaw Media through a $2.65 billion deal that closed April 1, 2016 — The Canadian Press

Is Corus Ent.’s 8% dividend sustainable?

Any time a stock offers investors an 8% yield, questions arise as to the long-term safety of the dividend as well as the strength of the underlying business. The media and entertainment business is one which has been in hot water for a long time, with headwinds coming from many directions — Chris McDonald, BayStreet.ca

The CRTC plans to issue the following decisions and/or regulatory policies in the coming week. This list may be incomplete and is subject to change without notice.

Broadcasting Decisions:

Application by Blackgold Radio Inc. for authority to acquire from Blackgold Broadcasting Inc. the assets of the radio station CKSS-FM Stony Plain/Spruce Grove, as well as the radio station CKPA-FM Ponoka

Application by the Canadian Broadcasting Corporation to change the authorized contours of CBCM-FM Penetanguishene, Ontario

Application by Radio communautaire F.M. de la Haute-Gatineau inc. to change the authorized contours of the radio programming undertaking CHGA-FM Maniwaki, Quebec

Application by Dufferin Communications Inc. for authority to acquire from 1486781 Ontario Limited the assets of the radio station CFWC-FM Brantford

Application by Bell Fund for a transition period to adapt its guidelines to the Commission’s new policy framework for Certified Independent Production Funds, and for an increase to the 10% cap on funding for non-programming digital content

Telecom Decisions

TELUS Communications Company – Show cause proceeding concerning the use of deferral account funds to improve access to telecommunications services for persons with disabilities
File number: 8638-T102-201607657

Huron Telecommunications Co-operative Limited – Application to modify the band assignment for the Ripley wire centre
File number: 8663-H4-201703372

After 12 years, Rick Campanelli is leaving ET Canada

Big changes are coming to Entertainment Tonight Canada, as Global announced Friday that three long-time fixtures are departing before the program's 13th season begins this fall — CBC News

Twitter will live-stream the inaugural Electronic Music Awards

The event takes place in LA’s Downtown Arts District on Sept. 21. The livestream will be available to Twitter users globally via theemaawards.twitter.com and @theemawards.

In Passing

Connection 2017, the Ontario Association of Broadcasters annual conference and awards gala takes place at the Marriott Toronto Airport Hotel on Thursday, Nov. 9.  

—  CBS News and BBC News have announced an editorial and news gathering partnership that they said would “significantly enhance the global reporting capabilities” of both organizations.The agreement replaces a previous BBC deal with ABC News and a CBS News partnership with Sky, which 21st Century Fox is planning to control.

This follows NBC News’ recent closing of the acquisition of a 25% stake in European news network Euronews for roughly US$30M, giving both organizations access to each other’s content and news gathering —The Hollywood Reporter

—  The Embassy of Imagination partnered with the Ottawa School of Art to commission 11 northern youths to paint a mural of a giant bowhead whale on a blank wall of the Bell Media building on George Street in the capital city. The team of artists spent 11 days this month on the project before unveiling it to the public on Sunday – Joe Lofaro, CBC News

— Pandora's swan song in Australia is July 31. The explanation given for the closure of the Aussie and New Zealand service is to focus on its core business in the US – Ad News

— Emmis Communications, the US-based media company, which focuses on radio broadcasting, has released results for its fiscal Q1 ending May 31, 2017. It wasn’t a pretty picture, but it wasn’t a gravestone either. What was an eye-catcher was the caution placed on forwarding looking statements. In its report factors stated include, among others:

  • general economic and business conditions;

  • fluctuations in the demand for advertising and demand for different types of advertising media;

  • our ability to service our outstanding debt;

  • competition from new or different technologies;

  • increased competition in our markets and the broadcasting industry including our competitors changing the format of a station they operate to more directly compete with a station we operate in the same market;

  • our ability to attract and secure programming, on-air talent, writers, and photographers;

  • inability to obtain (or to obtain timely) necessary approvals for purchase or sale transactions or to complete the transactions for other reasons generally beyond our control;

  • increases in the costs of programming, including on-air talent;

  • inability to grow through suitable acquisitions or to consummate dispositions;

  • changes in audience measurement systems

  • new or changing regulations of the Federal Communications Commission or other governmental agencies;

  • war, terrorist acts or political instability; and

  • other factors mentioned in documents filed by the Company with the Securities and Exchange Commission.

Worth Noting

Chicago saved from becoming a one-newspaper city

For two months, Chicago’s status as a two-newspaper town seemed tenuous. No longer. On Thursday, an investment group led by the businessman Edwin Eisendrath and the Chicago Federation of Labor announced that it had acquired The Chicago Sun-Times for $1 — The New York Times

Newspaper group’s hope for antitrust exemption is a Hail Mary pass

The sense of entitlement is at the core of what the NMA is proposing in effect suggests that mainstream newspaper companies are the only entities capable of producing quality journalism, and therefore they deserve a get-out-of-jail-free card so they can engage in what amounts to collusion. And they are hoping Congress will see Google and Facebook as the enemy — Mathew Ingram

The 10 most watched ads on YouTube in June

The #1 most viewed was More Than A Refugee with 16.8M views. You can watch and find out more about the countdown here

The International Rescue Committee (IRC) invited seven YouTube creators to get to know refugees around the world and share their stories. See those stories at https://goo.gl/MtucBa

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