Thursday, September 19, 2024

Corus Entertainment unveils new lifestyle networks, stock soars

Must read

  • Corus Entertainment (TSX:CJR.B) will launch two new lifestyle networks focused on food and the home on Dec. 30
  • The Flavour Network and Home Network will replace Corus’ slots for Food Network Canada and HGTV Canada after it failed to secure broadcast rights for 2025
  • Corus Entertainment is a media and content company with a portfolio composed of 32 specialty television services, 38 radio stations, 15 conventional television stations, digital and streaming platforms, and social digital agency and media services
  • Corus Entertainment stock has given back 80.80 per cent year-over-year and 96.14 per cent since 2019

Corus Entertainment (TSX:CJR.B) will launch two new lifestyle networks focused on food and the home on Dec. 30.

The Flavour Network and Home Network will offer “unique and fresh destinations” and be “specifically designed and programmed for Canadian audiences,” according to Wednesday’s news release, with the latter focused on delivering “the feeling of “home” beyond four walls with inspiring storytelling,” while the former seeks to “expand viewers’ palates with a fresh take on all things food.”

Viewers can expect more than 460 premiere hours in winter/spring 2025 across both networks marked by a mix of international acquisitions and 110.5 hours of original Canadian content spanning 2025 and 2026 with emphasis on new voices and formats, familiar faces and proven formats, and global representation.

(Source: Corus Entertainment)

Notable programming slated for Flavour Network includes “Top Chef Canada,” “Carnival Eats,” Andrew Zimmern’s “Wild Game Kitchen” and Gordon Ramsay’s “Food Stars” and “Kitchen Nightmares,” as well as new shows such as “Chasing Flavor with Carla Hall,” “Adam Richman Eats Britain” and “Andi Oliver’s Fabulous Feasts.”

Notable programming destined for Home Network includes new seasons of “Scott’s Vacation House Rules,” “Pamela’s Garden of Eden” and Top 20 specialty entertainment series “Renovation Resort,” in addition to acquired programs from around the world such as “Extreme Makeover: Home Edition,” Jessica Alba and Lizzy Mathis’ “Honest Renovations,” as well as “George Clarke’s Amazing Spaces,” “Outrageous Homes” with Laurence Llewelyn Bowen and “Selling Houses Australia.”

Corus expects to reveal additional programming later this year as it prepares to launch HomeNetwork.ca and FlavourNetwork.ca and related social media channels.

The news follows Corus’ announcement in June that it will lose the rights to Warner Bros. Discovery brands including HGTV, Food Network, Cooking Channel, Magnolia Network and OWN at year end, all of which move to Rogers (TSX:RCI.A) in January.

Leadership insights

“As Canada’s largest independent broadcaster and leader in lifestyle content, we will continue to operate the country’s biggest and most widely distributed lifestyle channels with the same expertise that built the foundation of the previous foreign brands in our market,” Troy Reeb, co-chief executive officer of Corus Entertainment, said in a statement. “Both Flavour Network and Home Network are thoughtfully curated new brands built specifically for Canadian audiences. With robust, original programming and expanded licensing from the world’s biggest lifestyle studios, these networks will deliver big audiences and unique opportunities for advertisers.”

About Corus Entertainment

Corus is a media and content company with a portfolio composed of 32 specialty television services, 38 radio stations, 15 conventional television stations, digital and streaming platforms, and social digital agency and media services. Its key brands include Global Television, W Network, The History Channel, Showcase, Adult Swim, National Geographic and Global News, along with streaming platforms STACKTV, TELETOON+, the Global TV App and Curiouscast.

Corus Entertainment stock (TSX:CJR.B) is up by 16.22 per cent on the news, trading at C$0.22 per share as of 11:15 am ET. The stock has given back 80.80 per cent year-over-year and 96.14 per cent since 2019.

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(Top photo of the Corus Quay broadcast and content facility in Toronto: Corus Entertainment)


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