The Globe and Mail reports in its Wednesday, July 17, edition that National Bank Financial analyst Adam Shine is sticking with his "underperform" rating for Corus Entertainment. The Globe's David Leeder writes in the Eye On Equities column that Mr. Shine cut his share target on Corus Entertainment to a penny from 25 cents after the company posted lower-than-anticipated third quarter results and a "weak" outlook for the current period. Analysts on average target the shares at 14 cents. Mr. Shine says in a note: "Based on our revised estimates, projected values in our NAV [net asset value] have turned negative, and it's hard for us to ascribe any remaining value for equity holders. ... Two AM radio stations were closed. In terms of WBD content/trademarks going to Rogers in 2025, OWN will shut down, Food & Magnolia may not continue, and HGTV & Food will get rebranded with new program supply sought. Corus is exploring legal & regulatory efforts in regard to the [Warner Bros. Discovery] dynamic. While news efficiencies are being explored, CRTC relief is being pursued." The Globe says despite aggressive cost-cutting efforts, further reductions and regulatory relief are now being pursued.