The Globe and Mail reports in its Tuesday edition that investors should steer clear of Corus Entertainment. The Globe's Andrew Willis writes that last Friday, Corus suspended its dividend, conserving cash to pay down $1.1-billion of debt. Corus chief executive officer Doug Murphy linked the austerity campaign to the Hollywood writers and actors strike, which delayed production of television programs, holding back ad revenue. Corus's share price fell 29 per cent on news of the payout cut, and is down 70 per cent over the past year. The steep drop in valuation should make Corus a textbook example of a fallen angel, with a clear path for its return to grace. Mr. Willis, however, sees a value trap. Scotiabank analyst Maher Yaghi says falling revenues at deeper-pocketed companies such as Comcast show "the decline in demand for advertising and media continues to be a challenge for the broader industry." Last Friday, Mr. Murphy highlighted the upcoming season of Survivor and the premiere of Yellowstone as bright spots in Corus's future. Value-focused investors have no reason to get excited about the 45th instalment of a reality TV show and the domestic debut of a Kevin Costner series most viewers have already streamed.