CORUS ENTERTAINMENT ANNOUNCES EXTENSION OF CREDIT FACILITIES

TORONTO, March 21, 2022 /CNW/ - Corus Entertainment Inc. ("Corus") (TSX: CJR.B) announced today that it has completed an agreement to amend and restate its existing syndicated senior secured credit facilities with its bank group, led by RBC Capital Markets and TD Securities. Pursuant to the amendment and restatement, the term loan facility was adjusted from $924 million as at the May 31, 2021 amendment to $549 million, reflecting principal repayments made since the term loan was last amended, including from the net proceeds of the 6% senior unsecured notes due February 28, 2030. The maturity date for both the term loan facility and the $300 million revolving credit facility were extended to March 18, 2027.

A copy of the amended and restated credit agreement will be filed on SEDAR at www.sedar.com.

About Corus Entertainment Inc.
Corus Entertainment Inc. (TSX: CJR.B) is a leading media and content company that develops and delivers high quality brands and content across platforms for audiences around the world.  Engaging audiences since 1999, the company's portfolio of multimedia offerings encompass 33 specialty television services, 39 radio stations, 15 conventional television stations, a suite of digital and streaming assets, animation software, technology and media services. Corus is an internationally-renowned content creator and distributor through Nelvana, a world class animation studio expert in all formats and Corus Studios, a globally recognized producer of hit scripted and unscripted content. The company also owns innovative full-service social digital agency so.da, lifestyle entertainment company Kin Canada, leading 2D animation software supplier Toon Boom and children's book publishing house, Kids Can Press. Corus' roster of premium brands includes Global Television, W Network, HGTV Canada, Food Network Canada, Magnolia Network Canada, The HISTORY® Channel, Showcase, Adult Swim, National Geographic, Disney Channel Canada, YTV, Global News, Globalnews.ca, Q107, Country 105, and CFOX, along with broadly distributed Canadian streaming platforms STACKTV, Nick+, the Global TV App and Curiouscast. For more information visit www.corusent.com.

SOURCE Corus Entertainment Inc.

Investor inquiries: Heidi Kucher, Director, Investor Relations, Corus Entertainment Inc., [email protected]; Media inquiries: Melissa Eckersley, Director, Corporate Communications, Corus Entertainment Inc., [email protected]