Last updated on April 21, 2014 at 1:20 EDT

Corus Entertainment Receives Competition Bureau Clearance to Acquire TELETOON, Historia and Series+

March 18, 2013

TORONTO, March 18, 2013 /PRNewswire/ – On Friday, March 15, Corus Entertainment Inc. (TSX: CJR.B) received clearance from the Competition Bureau, with the
issuance of the appropriate no action letter, to proceed with the
transactions between Corus and Bell. Pursuant to these transactions,
Corus will acquire the 50% remaining ownership interest in TELETOON
which includes the services TELETOON, Teletoon (French), TELETOON
Retro, Teletoon Retro (French) and Cartoon Network (Canada), as well as
the 50% ownership interests in the French-language specialty channels,
Historia and Series+, that Bell will acquire as part of the acquisition
of Astral Media Inc.

Corus has also entered into an agreement with Bell to acquire the two
Ottawa radio stations, CKQB-FM and CJOT-FM, that Bell will own upon the
completion of the Astral transaction. In separate agreements between
Corus and Shaw Media, Corus will acquire Shaw Media’s 50% interest in
Historia and Series+, which will result in both services being wholly
owned by Corus. All of the foregoing transactions require approval by
the Canadian Radio-television and Telecommunications Commission (CRTC).

Corus will also acquire from Shaw Media the remaining 49% interest in
the successful specialty service ABC Spark and Corus will sell its 20%
interest in Food Network Canada to Shaw Media.

“Clearance from the Competition Bureau is very positive news and is the
first step in the completion of these transformational transactions for
Corus,” said John Cassaday, President and Chief Executive Officer,
Corus Entertainment. “These acquisitions give Corus the scale to
expand into the growing French-language television market, providing
greater diversity and more choice in the system. As well, it
consolidates the ownership of TELETOON and ABC Spark within Corus’
portfolio of branded specialty channels and provides entry into another
major Canadian radio market.”

About Corus Entertainment Inc.
Corus Entertainment Inc. is a Canadian-based media and entertainment
company. Corus is a market leader in specialty television and radio
with additional assets in pay television, television broadcasting,
children’s book publishing and children’s animation. The Company’s
multimedia entertainment brands include YTV, Treehouse, Nickelodeon
(Canada), ABC Spark, W Network, OWN: Oprah Winfrey Network (Canada),
CosmoTV, Sundance Channel (Canada), Movie Central, HBO Canada, Nelvana,
Kids Can Press, Toon Boom and 37 radio stations including CKNW AM 980,
99.3 The FOX, Country 105, 630 CHED, Q107 and 102.1 the Edge. Corus
creates engaging branded entertainment experiences for its audiences
across multiple platforms. A publicly traded company, Corus is listed
on the Toronto Stock Exchange (CJR.B). Experience Corus on the web at www.corusent.com.

This press release contains forward looking information and should be
read subject to the following cautionary language:

To the extent any statements made in this report contain information
that is not historical, these statements are forward looking statements
and may be forward looking information within the meaning of applicable
securities laws (collectively, “forward looking statements”). These
forward looking statements related to, among other things, our
objectives, goals, strategies, intentions, plans, estimates and
outlook, including advertising, distribution, merchandise and
subscription revenues, operating costs and tariffs, taxes and fees, and
can generally be identified by the use of the words such as “believe”,
“anticipate”, “expect”, “intend”, “plan”, “will”, “may” and other
similar expressions. In addition, any statements that refer to
expectations, projections or other characterizations of future events
or circumstances are forward looking statements. Although Corus
believes that the expectations reflected in such forward looking
statements are reasonable, such statements involve risks and
uncertainties and undue reliance should not be placed on such
statements. Certain material factors or assumptions are applied in
making forward looking statements, including without limitation factors
and assumptions regarding advertising, distribution, merchandise and
subscription revenues, operating costs and tariffs, taxes and fees and
actual results may differ materially from those expressed or implied in
such statements. Important factors that could cause actual results to
differ materially from these expectations include, among other things:
our ability to attract and retain advertising revenues; audience
acceptance of our television programs and cable networks; our ability
to recoup 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 do business; the opportunities (or lack
thereof) that may be presented to and pursued by us; conditions in the
entertainment, information and communications industries and
technological developments therein; changes in laws or regulations or
the interpretation or application of those laws and regulations; our
ability to integrate and realize anticipated benefits from our
acquisitions and to effectively manage our growth; our ability to
successfully defend ourselves against litigation matters arising out of
the ordinary course of business; and changes in accounting standards.
Additional information about these factors and about the material
assumptions underlying such forward looking statements may be found in
our Annual Information Form. Corus cautions that the foregoing list of
important factors that may affect future results is not exhaustive.

When relying on our forward looking statements to make decisions with
respect to Corus, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events. Unless
otherwise required by applicable securities laws, we disclaim any
intention or obligation to publicly update or revise any forward
looking statements whether as a result of new information, events or
circumstances that arise after the date thereof or otherwise.

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SOURCE Corus Entertainment Inc.

Source: PR Newswire