Corus Entertainment has implemented reductions in its television and radio divisions. A spokesperson for 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 adjustments are described as challenging yet essential to ensure that their teams are organized in a sustainable manner, with minimal impact on local news and audio services. This decision follows earlier job cuts by Corus, primarily in Western Canada, earlier this year due to nationwide programming alterations.
In its most recent financial report, Corus disclosed a net loss of $36.5 million attributable to shareholders in the third quarter, with a 16% revenue decline compared to the previous year. The company is currently seeking approval for its proposed recapitalization strategy, which involves creditors exchanging debt for ownership in a new parent company.