TORONTO (Standard&Poor's) Aug. 20, 2003--Standard&Poor's Ratings Services said today that it revised its outlook on diversified Canadian media company, Corus Entertainment Inc. to negative from stable. At the same time, the ratings on Corus, including the 'BB' long-term corporate credit rating, were affirmed. Toronto, Ont.-based Corus is the largest Canadian radio operator, which owns or has interest in a number of specialty television networks, and through Nelvana Ltd. a producer of animated children's programming. "The revised outlook reflects a slower-than-expected expansion of Corus' cash flow base, due to not only cyclical economic factors, but also a structural decline in pricing for the company's programming, limiting the long-term financial prospects of Nelvana," said Standard&Poor's credit
