Corus Entertainment has implemented reductions within its television and radio divisions. A spokesperson for the company stated that they have enacted a “limited number” of adjustments in specific markets, affecting roles at Global B.C., Global National, News 640, and talk radio. These modifications are described as challenging yet essential to establish sustainable team structures while minimizing disruptions to local news and audio services. This recent action follows previous lay-offs by Corus earlier this year, primarily in Western Canada, as part of nationwide programming alterations.
In their third quarter report, Corus disclosed a net loss attributable to shareholders amounting to $36.5 million, with a 16% decline in revenue compared to the previous year. The company is currently seeking approval for its proposed restructuring plan, aiming to exchange debt for equity with lenders in a new parent corporation.