The Financial Post reports in its Wednesday, July 17, edition that Corus Entertainment has warned of a potential breach of its debt covenants and announced further restructuring due to a sharp decline in advertising revenue. A Bloomberg dispatch to the Post reports that analysts are telling clients to get out before the company is recapitalized. National Bank Financial analyst Adam Shine cut his share target to one cent. Mr. Shine says, "It's hard for us to ascribe any remaining value for equity holders." Corus fell 23 per cent to close at 15.5 cents in Toronto on Monday. The shares were as low as 12.5 cents, matching a low point set in late June. Corus issued a so-called "going concern" warning in quarterly financial results that disappointed analysts. Corus reported revenue of $332-million in the fiscal quarter ended May 31, a 16-per-cent drop from a year earlier. The decline in advertising revenue and profitability, and the possibility that it will be offside on covenants by September, "cast significant doubt about the company's ability to continue as a going concern, and therefore the company may be unable to realize its assets and discharge its liabilities in the normal course of business," Corus said in a filing.