Corus Entertainment Inc. Amends and Extends Consent Solicitation

Corus Entertainment Inc. Amends and Extends Consent Solicitation

TORONTO, July 25 /PRNewswire-FirstCall/ -- Corus Entertainment Inc. announced today that it has amended and extended its solicitation of consents (the "Consent Solicitation") from holders of the outstanding US$375.0 million aggregate principal amount of its 8 3/4% Senior Subordinated Notes due 2012 (the "Notes"). The Consent Payment has been increased from US$6.25 in cash for each US$1,000 principal amount of Notes to US$7.50 in cash for each US$1,000 principal amount of Notes. Additionally, the Expiration Time has been extended from 5:00 P.M., New York City time, on July 27, 2005, until 5:00 P.M., New York City time, on July 28, 2005.

The remaining terms and conditions of the Consent Solicitation remain unchanged and are described in the Consent Solicitation Statement dated July 14, 2005, copies of which may be obtained from Merrill Lynch & Co. Questions regarding the Consent Solicitation should be directed to Merrill Lynch & Co., Liability Management Group, at (888) 654-8637 (US toll-free) or (212) 449-4914.

This press release does not constitute a solicitation of consents with respect to any securities. The Consent Solicitation is being made solely by the Consent Solicitation Statement dated July 14, 2005, as amended by this press release.

Corus Entertainment Inc. is a Canadian-based media and entertainment company. Corus is a market leader in both specialty TV and Radio. Corus also owns Nelvana Limited, a leading international producer and distributor of children's programming and products. The company's other interests include publishing, television broadcasting and advertising services. A publicly traded company, Corus is listed on the Toronto (CJR.NV.B) and New York (CJR) Exchanges. Corus' website can be found at www.corusentertainment.com.

Corus Entertainment Inc. reports in Canadian dollars.

Certain statements in this press release may constitute forward-looking statements and are subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: our ability to attract and retain advertising revenues; audience acceptance of our television programs and cable networks; our ability to recoup production costs, the availability of tax credits and the existence of co-production treaties; our ability to compete in any of the industries in which we do business; the opportunities (or lack thereof) that may be presented to and pursued by us; conditions in the entertainment, information and communications industries and technological developments therein; changes in laws or regulations or the interpretation or application of those laws and regulations; our ability to integrate and realize anticipated benefits from our acquisitions and to effectively manage our growth; and, changes in accounting standards. Consequently, all of the forward-looking statements made in this report are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, us. Unless otherwise required by applicable securities laws, we disclaim any intention or obligation to publicly update or revise any forward-looking statements whether as a result of new information, events or circumstances that arises after the date thereof or otherwise.

Source: Corus Entertainment Inc.

CONTACT: John Cassaday, President and Chief Executive Officer, Corus Entertainment Inc., (416) 642-3770; Tom Peddie, Senior Vice President & Chief Financial Officer, Corus Entertainment Inc., (416) 642-3780

------- Profile: Ent