Corus Entertainment Closes Over-Allotment Option on Public Offering of Subscription Receipts

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, Feb. 5, 2016 /CNW/ - Corus Entertainment Inc. ("Corus") (TSX: CJR.B) announced today that the underwriters for the company's previously completed public offering of 25,400,000 subscription receipts have elected to exercise their option in full to purchase an additional 3,810,000 subscription receipts at a price of $9.00 per subscription receipt. The sale of the additional subscription receipts was completed today and increases the gross proceeds from the public offering by an additional $34,290,000, resulting in total gross proceeds from the public offering of $262,890,000, which is in addition to the gross proceeds from Corus' previously completed concurrent private placement of 3,560,000 subscription receipts to certain members of the Shaw family and their related entities for total gross proceeds of $32,040,000.

The public offering was made through a syndicate of underwriters led by RBC Capital Markets and TD Securities.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer, solicitation or sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

About Corus Entertainment Inc.
Corus Entertainment Inc. is a Canadian-based integrated media and content company that creates, broadcasts, licenses and delivers 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, animation software, and technology and media services. Corus' television brands include ABC Spark, Cartoon Network (Canada), CMT (Canada), Cosmopolitan TV, Disney Channel (Canada), Disney Junior, Disney XD, Nickelodeon (Canada), OWN: Oprah Winfrey Network (Canada), Telelatino, TELETOON, Treehouse, W Network, YTV, Historia, La chaîne Disney, Séries+ and TÉLÉTOON. Its 39 radio brands include CKNW AM 980, Rock 101, Country 105, 630 CHED, Fresh Radio, JUMP! 106.9, Q107 and 102.1 the Edge. The company also owns Nelvana, an internationally renowned animation production company, Kids Can Press, Toon Boom and Quay Media Services. A publicly traded company, Corus is listed on the Toronto Stock Exchange (CJR.B). Experience Corus on the web at www.corusent.com.

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SOURCE Corus Entertainment Inc.

Sally Tindal, Vice President, Corporate Communications, Corus Entertainment, 416.479.6107, [email protected]