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corus . CORUS ENTERTAINMENT ANNOUNCES FISCAL 2021 FIRST QUARTER RESULTS • Consolidated revenues declined 10 % for the quarter • Consolidated segment profit ( ¹ ) decreased 3 % for the quarter ⚫ Consolidated segment profit margin ( ¹ ) of 42 % for the quarter • Net income attributable to shareholders of $ 76.7 million ( $ 0.37 per share basic ) for the quarter • Net debt to segment profit ( ¹ ) of 3.14 times at November 30 , 2020 , down from 3.18 times at August 31 , 2020 • Free cash flow ( 1 ) of $ 62.4 million for the quarter TORONTO , January 12 , 2021 - Corus Entertainment Inc. ( TSX : CJR.B ) announced its first quarter financial results today . " Our first quarter results reflect another consecutive quarter of sequential improvement in Television advertising revenue , the impressive momentum of STACKTV and ongoing growth in our international content licensing business , " said Doug Murphy , President and Chief Executive Officer . " Once again , our strong free cash flow performance has improved our financial flexibility as we remain firmly focused on delivering consolidated revenue growth year over year . This promising start to the year coupled with the significant progress we are making to advance our strategic plan will position us extremely well as we emerge from the current climate as a new , stronger Corus . " Financial Highlights 2020 Three months ended November 30 , 2019 ( in thousands of Canadian dollars except per share amounts ) Revenues Television Radio Segment profit ( loss ) ( 1 ) Television Radio Corporate Net income attributable to shareholders Adjusted net income attributable to shareholders ( ¹ ) Basic earnings per share Adjusted basic earnings per share ( 1 ) 392,102 429,951 28,253 420,355 37,927 467,878 179,565 178,618 7,141 12,028 ( 8,099 ) ( 6,531 ) 178,607 184,115 76,664 78,116 79,851 79,980 $ 0.37 $ 0.37 $ 0.38 $ 0.38 $ 0.37 $ 0.37 62,374 53,048 Diluted earnings per share Free cash flow ( 1 ) ( 1 ) Segment profit ( loss ) , segment profit margin , adjusted net income attributable to shareholders , adjusted basic earnings per share , free cash flow and net debt to segment profit do not have standardized meanings prescribed by International Financial Reporting Standards ( " IFRS " ) . The Company believes these non - IFRS measures are frequently used as key measures to evaluate performance . For definitions , explanations and reconciliations see discussion under the Key Performance Indicators section of the First Quarter 2021 Report to Shareholders and / or Management's Discussion and Analysis in the Company's Annual Report for the year ended August 31 , 2020 . corus . Fiscal 2021 First Quarter Press Release 1