Corus Entertainment Inc.'s chief executive said Wednesday that a recession is something he is"confident" the company can manage through.
The media and entertainment company has levers it can pull to manage its cost structure in the event of a recession, he explained, like adjusting the timing of content being aired and being more disciplined around expenses.This commentary comes as Corus gears up to launch Pluto TV in Canada this fall in partnership with Paramount Global, part of its broader strategy to expand its digital, streaming and content offerings, which includes Stack TV, the Global TV app, Corus Studios, and a U.S.
Its net income attributable to shareholders totalled $29.6 million or 14 cents per diluted share for the quarter ending May 31, down from $40.7 million or 19 cents per diluted share a year earlier.The increase came as revenue at the company's television business rose to $404.1 million compared with $379.8 million a year ago.
Murphy said the company's portfolio of businesses is producing growth on all fronts, delivering strong consolidated revenue gains for the fifth consecutive quarter.
Source: News Formal (newsformal.com)
“If we spend as little money as possible like we usually do, we can survive this”