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 modifications in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. These adjustments, although challenging, are deemed necessary to ensure that the company’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 in the year, predominantly in Western Canada, as part of nationwide programming alterations.
In its third quarter report, Corus disclosed a net loss attributable to shareholders amounting to $36.5 million, attributing to a 16% decline in revenue compared to the previous year. The company is currently seeking approval for its proposed recapitalization strategy, which involves creditors exchanging debt for equity in a new parent entity.
