Corus Entertainment has implemented reductions within its television and radio divisions. A spokesperson disclosed that the company has enacted a limited number of adjustments in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. These alterations, while challenging, are deemed essential to ensure the sustainability of their teams’ structure with minimal impact on local news and audio services. This recent action follows a previous round of job cuts 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, accompanied by a 16% decline 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 entity.