Corus Entertainment Inc. (NYSE: CJR; TSX: CJR.B) announced today that it has acquired a 50% interest in The Locomotion Channel, an action-oriented animation pay television service targeting young adults aged 18-35 available in over 27 countries and 7 million homes throughout Latin America and Iberia (Spain and Portugal). Corus purchased the interest in Locomotion from the Claxson Interactive Group, Inc. (Nasdaq: XSON), a multimedia provider of branded content, for a maximum consideration of U.S.$10.5 million and a holdback in the event of certain economic changes that may impact revenue projections. The remaining 50% interest in Locomotion is held by The Hearst Corporation, one of the United StatesÕ largest diversified communications companies. Its major interests include magazine, news and business publishing, cable networks, television and radio broadcasting, internet businesses, television production and distribution, newspaper features distribution and real estate. ÒThis acquisition puts in motion our international expansion in children and animation networks in partnership with one of the leading players in the global entertainment business,Ó commented John Cassaday, President and CEO of Corus Entertainment. ÒThe growth potential for Locomotion in new and existing markets, coupled with the programming and distribution opportunities for Nelvana, is consistent with our strategy of leveraging core assets and expertise.Ó Locomotion was established in 1996 as a Spanish and Portuguese language service and home to the worldÕs best animation programming, with a specific focus on the popular Japanese animŽ. The channel currently has more than seven million subscribers in Brazil, Chile, Mexico, Argentina, Spain and Portugal and acquires programming from producers worldwide, including CorusÕ Nelvana. ÒOur vision for Corus is to become globally recognized as CanadaÕs most influential entertainment company,Ó added Heather Shaw, Executive Chair of Corus Entertainment. ÒOur stake in Locomotion will open doors to new partners, new opportunities and new outlets for our programming.Ó Locomotion is operated out of Miami, Florida and will continue to be led by its General Manager, Rodrigo Piza, who has grown the channel into an innovative television brand where young-adults of the digital culture come together to enjoy a new space where electronic music and the world’s best animation lives. ÒWe are excited about Corus EntertainmentÕs involvement with Locomotion,Ó said Bruce Paisner, President of Hearst Entertainment. ÒTheir demonstrated expertise in developing, programming and marketing specialty television services will be a great asset as we continue to expand the reach and programming success of Locomotion.Ó Corus Entertainment is a Canadian-based media and entertainment company. Corus is a market leader in both specialty TV and Radio. CorusÕ assets include 52 radio stations, four of CanadaÕs leading specialty television networks, CanadaÕs western pay-TV business and five digital channels. Corus also owns Nelvana Limited, one of the worldÕs largest international producers and distributors of childrenÕs programming and products. The companyÕs other interests include music, television broadcasting and advertising services. A publicly traded company, Corus is listed on the Toronto (CJR.B) and New York (CJR) Exchanges. CorusÕ Web site can be found at www. corusentertainment.com. Certain statements included in this release constitute Òforward-looking statementsÓ within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Such factors include, among others, the following: the impact of conditions in the entertainment, information and communications industries; risks associated with the economic, political and regulatory policies of local governments and laws and policies of Canada; the potential impact of increased competition in the CompanyÕs markets; and other factors which are described in the CompanyÕs filings with the Securities and Exchange Commission. -30- For further information, contact: John Cassaday President & CEO Corus Entertainment (416) 642-3773 Tom Peddie Chief Financial Officer Corus Entertainment (416) 642-3782 Kerry Morgan Group Director, Communications Corus Entertainment (416) 642-3792