The Globe and Mail reports in its Thursday, Sept. 14, edition that National Bank Financial analyst Adam Shine has lowered his recommendation for Corus Entertainment to "underperform" from "sector perform." The Globe's David Leeder writes that Mr. Shine slashed his share target back by 70 cents to $1.30. Analysts on average target the Class B shares at $2.29. The Globe says Mr. Shine has "materially" reduced his financial estimates for both the remainder of 2023 and 2024 as advertisement sales continue to deteriorate and the Hollywood writers' strike threatens the new television season. Mr. Shine says in a note: "Hollywood writers have been on strike since May 2 and actors since July 14 with no end in sight for this labour strife. Once resolved, it will take time for new TV output to materialize for a much truncated new season. ... How could the 2024-2025 TV season unfold? It should benefit from some kind of post-strike & cyclical recovery, but we don't know about any lingering audience (cord-cutting/shaving) and advertising implications to exacerbate secular issues, so it's best to be prudent." The Globe reported on March 23 that Mr. Shine rated Corus "sector perform." It was then worth $1.64.