CORUS ENTERTAINMENT ANNOUNCES FISCAL 2011 FIRST QUARTER RESULTS

CORUS ENTERTAINMENT ANNOUNCES FISCAL 2011 FIRST QUARTER RESULTS

-- Consolidated revenues up 8% and segment profit up 11%.
-- Television specialty ad growth of 17%.
-- Radio revenue growth of 3% with Ontario up 9%.
-- Basic earnings per share of $0.57 for the quarter compared to $0.92 last
year ($0.61 on an adjusted basis).

TORONTO, Jan. 11 /PRNewswire-FirstCall/ - Corus Entertainment Inc. (TSX: CJR.B) announced
its first quarter financial results today.

"Our advertising sales momentum continued in our first quarter and, in
combination with our cost control
initiatives, we delivered double digit segment profit growth.  An
outstanding start to our fiscal year," said John Cassaday, President
and CEO of Corus Entertainment.  "We are also very encouraged by the
strong viewer response to OWN in the USA and the positive reaction from
Canadian advertisers." 

Consolidated Results

Consolidated revenues for the three months ended November 30, 2010 were
$240.7 million, up 8% from $222.3 million last year.  Consolidated
segment profit was $92.3 million, up 11% from $83.2 million last year. 
Net income for the quarter was $46.2 million ($0.57 basic and $0.56
diluted), compared to $73.9 million ($0.92 basic and $0.91 diluted)
last year.  Net income for the prior year includes a $16.2 million
reversal of a disputed regulatory fee accrual and a $14.2 million
recovery due to income tax rate changes.  Removing the impact of these
items results in an adjusted first quarter basic earnings per share of
$0.61 in the prior year.

Operational Results - Highlights

Radio

-- Segment revenues increased by 3%.
-- Segment profit increased by 2%.
-- Revenues for Ontario Radio increased 9%.
Television

-- Segment revenues increased by 11%.
-- Segment profit increased by 16%.
-- Specialty advertising revenues increased by 17%.
-- Subscriber revenues increased by 9%.
-- Movie Central finished the quarter with 976,000 subscribers, up 2% from
Q1 of fiscal 2010.

Corus Entertainment Inc. reports in Canadian dollars.

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), W Network, CosmoTV, VIVA, Sundance Channel (Canada), Movie
Central, HBO Canada, Nelvana, Kids Can Press and radio stations
including CKNW, CFOX, CKOI, 98.5 FM, 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.

The unaudited consolidated financial statements and accompanying notes
for the three months ended November 30, 2010 and Management's
Discussion and Analysis are available on the Company's website at www.corusent.com in the Investor Relations section.

A conference call with Corus senior management is scheduled for January
11, 2011 at 4 p.m. ET.  While this call is directed at analysts and
investors, members of the media are welcome to listen in.  The dial-in
number for the conference call for North America is 1.800.685.7816 and
for local/international callers is 416.981.9076.  PowerPoint slides for
the call will be posted at 3:45 p.m. ET on January 11, 2011 and can be
found on the Corus Entertainment website at www.corusent.com in the Investor Relations section.

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, program, 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, program, 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.

SOURCE Corus Entertainment Inc.

Corus Entertainment Inc.

CONTACT: <table valign="top" border="0"><tr><td valign="top" align="left"><b>John Cassaday </b><br/> <b>President and Chief Executive Officer </b><br/> <b>Corus Entertainment Inc. </b><br/> <b>416.479.6018 </b><br/></td> <td><br/> <br/> <br/> <br/></td> <td><br/> <br/> <br/> <br/></td> <td><br/> <br/> <br/> <br/></td> <td><br/> <br/> <br/> <br/></td> <td><br/> <br/> <br/> <br/></td> <td><br/> <br/> <br/> <br/></td> <td><br/> <br/> <br/> <br/></td> <td valign="top" align="left"><b>Tom Peddie</b><br/> <b>Executive Vice President and Chief</b><br/> <b>Financial</b><b>Officer</b><br/> <b>Corus Entertainment Inc.</b><br/> <b>416.479.6080</b></td></tr> <tr><td valign="top" align="left"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td valign="top" align="left"> </td></tr> <tr><td valign="top" align="left"><b>Sally Tindal</b><br/> <b>Director, Communications</b><br/> <b>Corus Entertainment Inc.</b><br/> <b>416.479.6107</b></td></tr></table>

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