The Globe and Mail reports in its Friday, Oct. 31, edition that Corus Entertainment reported a decline in revenue and profit for its fourth quarter and fiscal year, mainly due to slowing advertising revenues. The Globe's Irene Galea writes that for the quarter ended Aug. 31, revenue fell 14 per cent and profit dropped 39 per cent. For the year, revenue decreased 11 per cent and profit declined 33 per cent, with consolidated segment profit margins down by 5 per cent. Corus recorded a net loss of $328-million for the year, including non-cash impairment charges of $263-million, an improvement from the prior year's loss of $772-million. This equates to a loss of $1.65 per share for the year. In early October The Globe reported that Corus's lenders were working on a debt-for-equity swap to restructure $1.1-billion in debt. Creditor advisers and the Corus board are negotiating a deal to exchange $750-million of bonds for new shares that represent a majority equity stake in the company, currently controlled by Calgary's Shaw family, along with a significantly smaller amount of debt. Corus has declined to comment on the potential restructuring, and did not address it in its earnings report.