Corus Entertainment Inc. says it currently expects "meaningful" year-over-year softness in television advertising revenue.

The media and content company's portfolio of offerings includes 33 specialty television services, 39 radio stations, 15 conventional television stations, and a suite of digital streaming assets.

In its latest outlook, it says a complex macroeconomic environment and ongoing pandemic-related impacts continue to put pressure on advertising revenues.

Corus adds that the heightened risk of a recession, persistently high inflation and continuing supply chain constraints have contributed to recent contractions in advertising demand and spending across the North American media industry.

Corus says, however, it is well-positioned to create value over the long term.

The company says it is continuing to invest in its businesses to advance its strategic plan and priorities.