Corus Entertainment to acquire radio stations Cool FM and 91.5 The Beat from CanWest MediaWorks

Corus Entertainment to acquire radio stations Cool FM and 91.5 The Beat from CanWest MediaWorks

TORONTO, Oct. 2 /PRNewswire-FirstCall/ -- Corus Entertainment Inc. (TSX:CJR.B; NYSE:CJR) announced today that it has reached an agreement with CanWest MediaWorks to purchase Winnipeg radio station CJZZ 99.1 Cool FM and Kitchener radio station CKBT 91.5 The Beat. The transaction is subject to approval by the Canadian Radio-television and Telecommunications Commission (CRTC) and the acquisition price for the two stations is approximately $15 million Cdn (subject to the customary closing adjustments).

"Corus Entertainment is committed to strengthening our radio presence in major markets," said John Cassaday, President and CEO, Corus Entertainment. "The addition of these two stations is consistent with our growth strategy and provides companion stations for our heritage news-talk station CJOB and rock station Power 97 in Winnipeg and DAVE-FM in Kitchener."

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, advertising and digital audio services, television broadcasting, children's book publishing and children's animation. The company's multimedia entertainment brands include YTV, Treehouse, W Network, Movie Central, Nelvana, Kids Can Press and radio stations including CKNW, CKOI and Q107. Corus creates engaging branded entertainment experiences for its audiences across multiple platforms. A publicly traded company, Corus is listed on the Toronto (CJR.B) and New York (CJR) exchanges. Experience Corus on the web at www.corusent.com.

Source: Corus Entertainment Inc.

CONTACT: Tracy Ewing, Vice President, Communications, Corus Entertainment
Inc., (416) 642-3792

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