Media Beat: July 06, 2018
By David Farrell
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
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.
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
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
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
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.