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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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Valence
'La nuit s’achève' album cover

Valence

Latest News

Music News Digest: Canadian Artists Valence Jon Mullane & Jay Douglas Earn Awards

This week’s roundup of news includes items on Rob Pattee, Voivod, FMO, AMERICANAFEST 2024, Busy Buddies, Andrea Ramolo, Vishtèn Connexions, Boreal and Terry Gomes.

Awards news

The Grand Théâtre de Québec and its partners, the City of Québec, Solotech and De la Létourneau, are awarding the inaugural Bourse Karim-Ouellet to singer/songwriter Valence (Vincent Dufour). The prize was created last Sept., in memory of the late Quebec City-based singer-songwriter Karim Ouellet. It awards a $7,500 cash prize, plus consulting and publicity services from communications firm, and the opportunity for a paid performance at the Grand Théâtre de Québec in 2024. Applications for next year’s Bourse Karim-Ouellet open on Aug. 30, with a Dec. 1 deadline.

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