Corus Entertainment has implemented reductions within its television and radio divisions. A representative from the company stated that they have enacted a limited number of modifications 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 organization’s teams are structured in a sustainable manner while minimizing disruptions to local news and audio services. This recent decision follows previous job cuts by Corus earlier this year, primarily in Western Canada, as part of nationwide programming adjustments.
In its third quarter financial 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 awaiting approval for its proposed recapitalization strategy, which involves lenders exchanging debt for equity in a new parent company.