Corus Entertainment has implemented reductions in its television and radio divisions. A spokesperson for the company mentioned that they have enacted a “limited number” of adjustments in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. These changes, though challenging, are deemed essential to ensure that their teams are structured sustainably, with minimal disruption to local news and audio services. This recent action follows previous job cuts by Corus, primarily in Western Canada earlier this year as part of nationwide programming modifications.
In its third quarter report, Corus disclosed a net loss of $36.5 million attributable to shareholders, with a 16% decline in revenue compared to the previous year. The company is currently seeking approval for its proposed recapitalization strategy, which involves debt-to-equity conversion among lenders in a new parent entity.