Toronto, September 9, 2022 /CNW/- Chorus Entertainment Inc. (TSX: CJR.B) (“Corus” or the “Company”) today shared the schedule for its investor meeting. September 2022.
Doug MurphyPresident and Chief Executive Officer, chorus entertainment join the 23rd Annual BMO Media & Telecom Conference Toronto, Ontario upon September 13, 2022 and 11:45 AM ET and at 21st Annual CIBC Eastern Institutional Investor Conference Montreal, Quebec upon September 21, 2022 and 10:35 AM ET.
For more information, please visit the Events and Presentations page in the IR section of the Corus website at: www.corusent.com.
Risk Factors and Outlook Updates
Corus also provides the following updates on its risk factors and outlook in light of the latest developments related to the macroeconomic and other factors discussed below. Please refer to the sections “Risks and Uncertainties” and “Seasonality” in our Management’s Discussion and Analysis for the period ended. August 31, 2021section under the heading ‘Risk Factors’ on the Annual Information Form for the ending year; August 31, 2021and the “Risks and Uncertainties” and “Seasonality” sections of the completed 3-month and 9-month reports to shareholders; May 31, 2022 (collectively, “Former MD&A” for a complete description of the risk factors and uncertainties that may affect us).
As previously discussed in MD&A, our operating results are affected by Canadian and global economic conditions and are subject to seasonal fluctuations that can significantly affect our quarterly operating results. Over the past quarter, the macroeconomic environment has become increasingly uncertain, characterized by heightened risks of recession, persistently high inflation, and persistent supply chain constraints. These factors have resulted in a recent contraction in advertising demand and spending across the North American media industry.
Also, as explained in our previous MD&A, the disruption caused by previously imposed public health restrictions, public opinion about the pandemic and the continued rate of COVID-19 infection has adversely affected our operations and financial performance. may affect The Company continued to be impacted by the pandemic-related conditions of the previous quarter, primarily due to consumer behavior patterns and supply chain disruptions affecting both product and service advertising categories.
In the short term, we expect the complex macroeconomic environment and ongoing pandemic-related impacts to continue to weigh on advertising revenue. Combined with the general advertising spend and seasonal revenue cycles discussed in previous MD&A, the company now expects TV advertising revenues to soften significantly year-over-year. Corus believes it remains well positioned to create value over the long term as it continues to invest in its business to advance its strategic plans and priorities.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking information and should be read with the following cautionary statements. within the meaning of applicable securities laws (collectively, “forward-looking information”). This forward-looking information reflects, among other things, our objectives, goals, strategies, targets, intentions, plans and estimates, including the adoption and anticipated impact of our strategic plans, advertising and forecasts of advertising trends for the fiscal year. , and related to prospects. 2022/2023, Distribution, Merchandise and Subscription Revenue, Our Dividend Policy and Future Dividend Payments. Our leverage target. Our proposed stock purchase. This includes the number of non-voting Class B shares to be repurchased based on the issuer’s bidding in the ordinary course and the timing of such repurchases. the company’s ability to manage retention and reputational risks associated with on-air talent; Expectations regarding financial performance, including capital allocation strategy and capital structure management, operating costs and tariffs, taxes and fees, generally using words such as “believe,” “expect,” “expect,” “intend,” etc. can be identified by “plan”, “will”, “may” or negation of these terms and other similar expressions. In addition, statements that refer to expectations, projections or other characterizations of future events or circumstances may be considered forward-looking information. Although Corus believes that the expectations reflected in such forward-looking information are reasonable, such information involves assumptions, risks and uncertainties that may not be Undue reliance should not be placed on statements. Certain key factors or assumptions apply with respect to forward-looking information. This includes the potential impact of new competition and industry mergers and acquisitions, the stability of interest rates, advertising, distribution, goods and subscription markets, operating and capital costs and tariffs, taxes and fees, and that our capital and operating results are consistent with our expectations. Actual results may differ materially from those expressed or implied in such information. Important factors that could cause actual results to differ materially from those projected include, among others: Audience acceptance of our television programming and cable networks. Our ability to recover production costs. The availability of tax credits and the existence of co-production treaties. our ability to compete in any of the industries in which we operate; Opportunities (or lack thereof) presented to the Company and which the Company may pursue. Status of the entertainment and information and communication industries and their technological development. changes in laws or regulations, or the interpretation or application of those laws and regulations; our ability to integrate and realize the expected benefits from the acquisition and effectively manage its growth; our ability to successfully defend against litigation matters or complaints; default on covenants under our senior credit facilities, senior unsecured notes, or other instruments or facilities; An epidemic, pandemic, or other public health crisis, including the current COVID-19 outbreak or changes in accounting standards. Additional information regarding these factors, and the significant assumptions underlying the forward-looking information, is available under the heading “Risks and Uncertainties” in our Management’s Discussion and Analysis for the year ended March 31, 2019. It is listed. August 31, 2021under the heading “Risk Factors” on the Company’s Annual Information Form for the year ended August 31, 2021 In addition, under the heading “Risks and Uncertainties” in the completed three-month and nine-month shareholder reports, May 31st, 2022. Corus cautions that the preceding list of important assumptions and factors that may affect future results is not exhaustive. Investors and others should carefully consider the aforementioned factors and other uncertainties and potential events when relying on our forward-looking information to make decisions about Corus. there is. Unless otherwise specified, all forward-looking information in this document speaks as of the date of this document. Unless otherwise required by applicable securities laws, Corus will not publicly update or revise any forward-looking information as a result of new information, events or circumstances occurring after its date or for any other reason. Disclaim intent or obligation.
About Chorus Entertainment
Chorus Entertainment Inc. (TSX: CJR.B) is a leading media and content company that develops and delivers high-quality brands and content across its platforms for a global audience. Captivating audiences since 1999, the company’s portfolio of multimedia products includes 33 specialty television services, 39 radio stations, 15 traditional television stations, a suite of digital and streaming assets, animation software, technology and media services. is included. Through his expert Nelvana, a world-class animation studio in all its forms, and Corus Studios, a globally recognized producer of scripted and unscripted hit content, Corus is the creator of internationally renowned content. and distributor. The company also owns innovative full-service social digital agency so.da, lifestyle entertainment company Kin Canada, leading 2D animation software supplier Toon Boom, and children’s book publisher Kids Can Press. Corus’ list of premium brands includes Global Television, W Network, HGTV Canada, Food Network Canada, Magnolia Network Canada, The HISTORY® Channel, Showcase, Adult Swim, National Geographic, Disney Channel Canada, YTV, Global News, Globalnews.ca, Q107, Country 105, and CFOX, as well as widely distributed Canadian streaming platforms STACKTV, TELETOON+, Global TV App and Curiouscast. For more information, see: www.corusent.com.
SOURCE Chorus Entertainment Inc.
More Information: Investor Inquiries: Heidi Kucher, Director of Investor Relations, Corus Entertainment Inc. [email protected]Media Inquiries: Merissa Eckersley, Director of Corporate Communications, Corus Entertainment Inc.; [email protected]