Lorne Steinberg Corus Entertainment (B) CJR.B-T DON'T BUY Oct 20, 2023

It won't rebound. Was one of his worst past picks. He expected strength in women's and children's programming to carry it, but then they bought the Global TV network--a disaster. They slashed their dividend; ads have migrated away from traditional TV.

Not a good chart at the moment.
Would hesitate buying.
Better names out there. 

Balance sheet's come down in 3 steps. After the first 2 steps, the stock doubled, but it was short term and you had to be quick. No guarantees it will happen again a third time. Yesterday's dividend cut may cause a quick pop in the stock.

Since last summer there has been a recession in advertising for television and this has been a problem for Chorus. There are longer term headwinds since subscribers are moving more to streaming services. Chorus has STACK TV but it is an uphill battle against some of the big companies. It sold its animation studio to help reduce debt load but debt is still pretty high. The stock is too risky.

Currently in "down trend". Look for small increase in share price to indicate reversal of trend. Would recommend waiting to buy once "down trend" has been reversed. 

Unsure on direction of business. Things not looking too good for the business right now. Recently lost streaming contract to Rogers. Management has taken on too much debt, and hasn't managed business very well. Could go bankrupt - would be opportunity for restructuring. 

He's not an M&A guy. Not much too say with a chart like that. Penny stocks are not his forte, so he prefers not to comment.