Corus Entertainment says it’s looking at new ways to reduce costs as weaker advertising sales, particularly for its children’s television channels and in radio, pulled profits lower.
“We are doing everything in our power to control costs,” chief executive John Cassaday said Wednesday.
“We are also looking at some additional initiatives that we will be talking to our employees about in the next couple of days.”
It was not known whether the plans could include job cuts or reduced hours. Corus has already reduced management salaries and initiated a hiring freeze, which it estimates saved about 100 jobs.
Cassaday said advertising declined by double-digit percentages at its channels aimed at young audiences, which include Discovery Kids and YTV.
In comparison, female-skewed channels like W Network and Cosmopolitan TV experienced advertising growth.
