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Media Beat: July 06, 2018

By David Farrell

A visit to the CBC archives, on the eve of destruction

Film degradation and antiquated film equipment are behind a move to transfer and destroy a portion of CBC’s archives. The thought of destroying anything has a chorus of protestors clamoring for a halt, but at what cost? The Globe and Mail’s Simon Houpt sweeps away the dust storm of nay-sayers and gets to the facts, and they are worth knowing. — Subscription


Did you really buy Corus stock for the dividend­?

The fact that Corus Entertainment Inc. cut its dividend June 27 by almost a loonie shouldn’t come as a surprise to any investors in its stock.

Fool contributors Matt Litalien and Joey Frenette both alluded to the potential for a dividend cut in articles they wrote in June prior to the recent announcement, and most analysts were already calling for a reduction in its annual payout.

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I’m not sure anyone could have predicted an 80% cut, but in hindsight, Corus’s business did look awfully troubled, providing plenty of warning signs. — Will Ashworth, The Motley Fool

A corus of Corus criticisms

Summary

  • Corus's management obliterated the company's longstanding dividend.

  • The company massively wrote-down goodwill on TV assets, somewhat dubiously.

  • Reduced dividend obligations mean the company will meet its long-debt targets easily next year.

  • Management is not working in the best interest of existing shareholders.

Free cash flow generation is still in place and provides room for a pivot. — Seeking Alpha

Bay Bloor Radio pulls the plug on JAZZ.FM

The long standing advertiser on JAZZ.FM91 has pulled its sponsorship dollars as the not-for-profit, listener-supported Toronto radio station continues to grapple with the fallout of a workplace investigation into allegations of bullying and sexual harassment by its former CEO and president, Ross Porter. BBR’s annual ad buy is pegged at about $70K. — Marc Bryan-Brown, The Globe & Mail

Polemicist Christie Blatchford’s CBC tirade

She works for a man who is frugal in every way save when it comes to his pay packet, and she’s known for her take-no-hostages style of news reportage. From her soapbox stand at the Financial Post she pulls no punches in venting about the national pubcaster, but one senses a degree of envy in having a newsroom that is staffed with people reporting about news events.

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Big Boi
bigboi.com

Big Boi

Concerts

CNE Bandshell Gets Big Boi, Sloan, Big Wreck And More For Throwback Summer Concerts

The headliners tie together the Toronto waterfront series' '90s and 2000s revival theme, while contemporary acts like MacKenzie Porter, Ruby Waters, Tynomi Banks and more will keep things current.

Toronto's CNE Bandshell concert series is leaning into big nostalgia this summer, with major '90s and 2000s acts headlining the throwback-themed lineup.

OutKast rapper Big Boi, Canadian-American rock band Big Wreck, and east coasters Sloan are leading the summer music programming at the Canadian National Exhibition, a major entertainment fair that takes over the Exhibition Place grounds every August.

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