TORONTO, Jan. 6, 2014 /PRNewswire/ – Today, Corus Entertainment Inc. (TSX:CJR.B) announced that the Company closed its acquisition of the
specialty television services Historia, S ries+ and the remaining 50%
of TELETOON Canada Inc. on January 1, 2014.

“This is an important milestone for the Company as we integrate these
new television services into the Corus portfolio,” said John Cassaday,
President and Chief Executive Officer, Corus Entertainment. “We are
excited about the future growth opportunities and look forward to
delivering great programming to audiences across multiple platforms.”

With these acquisitions, Corus now owns 100% of Historia, S ries+ and
TELETOON Canada (which includes TELETOON, TÉLÉTOON, TELETOON Retro,
TÉLÉTOON R tro and Cartoon Network). In April 2013, Corus also
consolidated its ownership of ABC Spark and divested its 20% interest
in Food Network Canada.

The net cash consideration for these assets is $481 million Cdn. and was
paid for with cash on hand and existing bank lines of credit. The
overall transaction is valued at a fiscal 2013 EBITDA multiple of 9.4x
and will be immediately EPS and Free Cash Flow accretive.

About Corus Entertainment Inc.
Corus Entertainment Inc. is a Canadian-based media and entertainment
company that creates, broadcasts and licenses content across a variety
of platforms for audiences around the world. The Company’s portfolio of
multimedia offerings encompasses specialty television and radio with
additional assets in pay television, television broadcasting,
children’s book publishing, children’s animation and animation
software. Corus’ brands include YTV, TELETOON, ABC Spark, W Network,
OWN: Oprah Winfrey Network (Canada), HBO Canada, Historia and S ries+,
as well as Nelvana, Kids Can Press, Toon Boom and 37 radio stations
including CKNW AM 980, 99.3 The FOX, Country 105, 630 CHED, Fresh FM
London, Q107 and 102.1 the Edge. A publicly traded company, Corus is
listed on the Toronto Stock Exchange (CJR.B). Experience Corus on the
web at www.corusent.com.

SOURCE Corus Entertainment Inc.