Corus Entertainment has implemented reductions in its television and radio divisions. A spokesperson for the company has confirmed that they have enacted a limited number of adjustments in specific markets, impacting roles at Global B.C., Global National, News 640, and talk radio. These changes, though challenging, are deemed necessary to reorganize teams in a sustainable manner while striving to minimize disruptions to local news and audio services. This latest decision follows earlier 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 attributable to shareholders amounting to $36.5 million, with a 16% decrease in revenue compared to the previous year. The company is currently seeking approval for its proposed recapitalization strategy, which involves lenders exchanging debt for equity in a new parent company.