Corus Entertainment is implementing reductions in its television and radio divisions. A spokesperson for the company has confirmed that they have enacted a series of adjustments in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. These changes are described as challenging but essential to establish sustainable team structures while minimizing interruptions to local news and audio services. This latest development follows a previous round of job cuts by Corus earlier this year, predominantly in Western Canada, as part of nationwide programming modifications.
In its recent financial report, Corus disclosed a net loss of $36.5 million attributable to shareholders in the third quarter, with a 16% decrease in revenue compared to the same period last year. The company is currently seeking approval for its proposed recapitalization strategy, which involves creditors exchanging debt for equity in a new parent entity.