CHUM tops $200 million in earnings

5/4/01

Toronto - Revenue for the six months at CHUM Limited, ended February 28, 2001, totalled $200.1 million, an increase of 8.4% over the same period last year. Operations expenses increased by $12.3 million or 7.6% when compared with the corresponding six month period last year.

For the six months ended February 28, 2001, the company, which owns and operates Toronto broadcaster Citytv and its "New" clones, as well as numerous radio stations and specialty services such as Space, MuchMusic and Star! recorded earnings of $8.3 million, compared with earnings of $6.6 million for the same period last year.

Airtime sales and bookings on radio and TV for the nine months to May 31, 2001 remain ahead of those for the same period last year with increases from both radio and specialty television operations. Conventional television sales are showing slight increases from those levels.

Plans and preparations, including negotiations with distributors, are well advanced for the launch of three category one digital services (Fashion Television, Book Television and Perfecto) and at least four category two digital services in September 2001.

Applications were submitted to the CRTC for nine additional category two digital specialty services. These were non-appearing items during scheduled CRTC public hearings held during the week of April 16, 2001. A decision on these applications is expected by the end of May. The applications were for: World Film Channel, Pulse 24 Alberta, Soap TV, Pulse 24 Prairies, Drive-in Channel, Pulse 24 BC, Relationship Television; Pulse 24 Ottawa; International Film Channel.


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