Corus Entertainment has implemented reductions within its television and radio divisions. A spokesperson stated that a “limited number” of adjustments have been made in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. These changes, although challenging, are deemed necessary to ensure the sustainability of their teams while minimizing disruptions to local news and audio services. This recent decision follows previous workforce reductions, primarily in Western Canada, earlier this year as part of nationwide programming modifications.
In its third quarter, Corus reported 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 recapitalization strategy, which involves debt-to-equity swaps with lenders in a new parent company.