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Bullboard - Stock Discussion Forum Corus Entertainment Inc T.CJR.B

Alternate Symbol(s):  CJREF

Corus Entertainment Inc. is a Canada-based media and content company that develops and delivers brands and content across platforms for audiences around the world. The Company's segments include Television and Radio. Its portfolio of multimedia offerings encompasses approximately 32 specialty television services, 37 radio stations, 15 conventional television stations, digital and streaming... see more

TSX:CJR.B - Post Discussion

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Post by Puma1back on Dec 15, 2022 9:02am

Vaulations

Globe in the article  below suggests Bell's media assets cobbled together around 10 years ago for some $6.2 billion is now worth some $4 plus billion at the low end.

so CTV is worth $4 billion and Global is worth argueably ZERO based on the current $1.6 billion enterprise value of CJR. 

or Nelvana & related production assets, which were a stand alone $2 billion asset for years,  are now worth ZERO evevn though Wildbrain,which is almost a pure production play, somehow has an enterprise value of over $1 billion.


The Globe and Mail reports in its Thursday edition that despite significant opposition, the market seems to be confident that the proposed Rogers-Shaw merger will be approved. Guest columnist Dvai Ghose writes that in response to this seismic shift in industry dynamics, BCE refocus on its core telecom operations and shed legacy assets such as Bell Media, which has proven to be a distraction, as evidenced by the recent Lisa LaFlamme controversy. If the market is right, Rogers will create a coast-to-coast broadband carrier with unprecedented scale. This should result in significant competitive and strategic advantages, including being better positioned to win national corporate and government contracts, secure lower prices from vendors, and build partnerships with technology behemoths such as Microsoft and Alphabet. Bell Media was created through Bell's acquisition of CTV (including TSN) in 2010 at a valuation of $3.8-billion, followed by its acquisition of Astral Media in 2012 for $3.4-billion. Unfortunately, analysts now value Bell Media at just $4-billion to $6-billion. Globally, legacy media asset valuations have declined significantly owing to disruption from streaming services such as Netflix and YouTube.

Comment by ratsnake220 on Dec 15, 2022 5:34pm
hard to compare a conglomerate like BCE ...Rogers same thing.....the viewing levels are cratering on Specialty tv and alotof avails on mainstream
Comment by Puma1back on Dec 16, 2022 7:26am
what's interesting about the valuation comments is that they extract the media assets out and comment on their stand alone values. So it does introduce an interesting comparable. Global is smaller than ctv but the size difference isn't enough to warrant any additional discount.  
Comment by ratsnake220 on Dec 17, 2022 3:34pm
how can you compare Rogers and BCE to Corus     Rogers rev from Tv is a fraction of their sports teams and Cell rev....BCE has Bell media as part in part...    Corus is straight advertising.....People will still buy tickets to see Leafas and Blue Jays in a recessioin....but they will cut ad budgets.....The Ceo of Corus has guided this as a tough challenge advertising in 2023. ...more  
Comment by Puma1back on Dec 19, 2022 7:29am
They also mentioned in the standalone valuation model article that Roger,s -----  City TV, Omnivision & Sportsnet are worth $700 million. First 2 are pretty minor so  the sports channels must be the bulk of the value appraisal but those sports franchises sure now how to charge for their access. again, overall the values identified for the media assets of the conglomerates are well ...more  
Comment by ratsnake220 on Dec 19, 2022 6:32pm
puma says ride out the recession and get a V just like Steel Stocks........he actually comparied steel stocks to a company that sells mostly TV ads.....which cable is being cut daily and may i remind the Puma.....form 2010 through 2021 we were in a raging bull market for advertsing......And during that time Corus cratered.....But Googel and FB ads went up 20 x ......i really think reality needs to ...more  
Comment by Puma1back on Dec 20, 2022 9:06am
Even a simple search for impacts from Bill C-18 shows some serious numbers. I can see the reluctance of the media companies to have commented earlier given they are scrutinized daily by the Regulators, but the estimates are in the $250 million range. That is the top 4 broadcasters are expected to split this pool of new revenues. Within the conglomerate's of Bell & Roger's that may not ...more  
Comment by ratsnake220 on Dec 20, 2022 12:22pm
the bil C-18 would allocate based on size of news opertions.....being CBC and CTV have 75% of all the on air minutes in their mainstream and speicialty channels attached to broadcsteing News....i would think they would get 75% of the revenue?   Global and Rogeres...would split 25%....But its not going to help them in the long run....News audiences on Tv are Dropping......and will coninue too. ...more  
Comment by Puma1back on Dec 21, 2022 9:42am
So i looked  on Similarweb to try and capture some independent  news media saturation for the big 3 and Global is sitting on about 20%; being about half the size of cbc and ctv. Presumably this is in great part their lack of Quebec penetration. Roger's doesn't even get slotted into the media sector just their City TV arm which is negligible relative to the big 3. anyway ...more  
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