70 CONSOLIDATED SUMMARY OF THE COMPANY’S OPERATING GROUPS Years ended August 31 (millions of Canadian dollars except for percentages) 2000 % Revenues Programming 110.0 48.0 Radio 86.2 37.6 Diversified Media (other) 33.0 14.4 229.2 100.0 Direct operating expenses Programming 75.4 32.9 Radio 59.5 26.0 Diversified Media (other) 24.8 10.8 Corporate overhead 4.0 1.7 163.7 71.4 EBITDA Programming 34.6 15.1 Radio 26.7 11.6 Diversified Media (other) 8.2 3.6 Corporate (4.0) (1.7) EBITDA 65.5 28.6 Depreciation 9.0 3.9 Amortization 13.4 5.8 Interest expense 30.4 13.2 Asset writedown – – Gain on sale of investments (197.7) – Other (revenue) (9.5) – Income (loss) before taxes 219.9 – Income taxes 65.8 – Income (loss) before equity earnings from  investees & minority interest 154.1 – Equity earnings from investees 2.1 – Minority interest (0.2) – Net income (loss) 156.0 –