July 24, 2020
This has been a challenging year for many Canadian media and entertainment companies.
Corus Entertainment, owner of the Global TV network and 39 radio stations, recorded a stunning $752-million loss from March 1 to May 31. This was mainly because of goodwill impairment and a drop in the value of its broadcast licences.
Over the same period, Postmedia also took an “impairment expense”—$12.5 million— in reporting a quarterly net loss of $13.8 million.
Glacier Media was another media company that absorbed an impairment charge—$10.9 million. That contributed to a $12.2-million loss from January 1 to March 31.
More recently, Glacier revealed that its consolidated revenues fell 36 percent in April and May.
And Cineplex Inc. endured a whopping $178.4-million loss in the first quarter.
But one Canadian media company still appears to be in the black.
Read More HERE
Of course Zoomer Media makes money: it provides wholesome entertainment that does NOT rely on simulcasts of awful US programming. They also produce their own programming. What a concept.