Corus Entertainment announces 16% dividend increase for Class A and B shareholders

Corus Entertainment announces 16% dividend increase for Class A and B shareholders

TORONTO, July 14, 2011 /PRNewswire/ - Corus Entertainment Inc. (TSX: CJR.B) announced today that its Board of Directors has approved
a $0.12 increase in its annual dividend.

The Company's monthly dividend for holders of its Class A and Class B
Shares will increase to $0.072083 and $0.0725 respectively. The
dividend will be paid on each of August 31, 2011, September 30, 2011
and October 31, 2011 to shareholders of record at the close of business
on August 15, 2011, September 15, 2011 and October 14, 2011
respectively.

At the new rate, the expected dividend on an annual basis for the
Company's Class A and Class B Shares is $0.865 and $0.87 respectively,
up from the previous rate of $0.745 and $0.75 respectively.

"Our continuing strong business results have allowed us to declare a
second significant increase in our annual dividend this fiscal year,"
said Heather Shaw, Executive Chair, Corus Entertainment Inc. "This 16%
increase represents our commitment to providing value to our
shareholders and demonstrates the strength of our free cash flow."

The foregoing dividends are designated as "eligible" dividends for the
purpose of the Income Tax Act (Canada) and any similar provincial legislation.

Corus' Board of Directors reviews the dividend on a quarterly basis.
Shareholders are entitled to receive dividends only when any such
dividends are declared by Corus' Board of Directors and there is no
entitlement to any dividend prior thereto.

Registered shareholders who are residents of Canada and who are not
currently participating in Corus' Dividend Reinvestment Plan ("the
Plan") may elect to participate in the Plan through the completion of
an enrollment form which can be obtained from the Company's Plan
administrator, CIBC Mellon Trust Company, on their website at www.cibcmellon.com or by calling 1.800.387.0825. The Plan allows eligible holders of Class
A Shares and Class B Shares to acquire additional Class B Shares
through reinvestment of the cash dividends paid on their respective
shareholdings. Non-registered beneficial shareholders who are residents
of Canada and who wish to join the Plan should consult their broker,
financial institution or other intermediary through which they hold
Class A Shares or Class B Shares.

At this time, Corus' Board of Directors confirms that the Company will
continue to issue shares from treasury at a 2% discount from the
average market price to Plan participants of record, as determined
pursuant to the terms of the Plan.

There were 3,439,212 Class A Voting Shares outstanding and 79,007,154
Class B Non-Voting Shares outstanding on June 30, 2011.

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, OWN: Oprah Winfrey Network (Canada), CosmoTV,
Sundance Channel (Canada), Movie Central, HBO Canada, Nelvana, Kids Can
Press and 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. 

SOURCE Corus Entertainment Inc.

Corus Entertainment Inc.

CONTACT: John Cassaday 
President and Chief Executive Officer 
Corus Entertainment Inc. 
416.479.6018                   Tom Peddie, FCA 
Executive Vice President and Chief 
Financial Officer 
Corus Entertainment Inc. 
416.479.6080Sally Tindal
Director, Communications
Corus Entertainment Inc.
416.479.6107                      

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