Corus Entertainment undergoes restructuring at both its television and radio divisions. A spokesperson for the company has confirmed the implementation of a limited number of adjustments in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. The spokesperson emphasized that these changes, though challenging, are essential to ensure the sustainability of their teams’ structures while minimizing interruptions to local news and audio services. This move follows a prior round of job reductions, primarily in Western Canada, earlier this year 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% decline in revenue compared to the previous year. The company is currently seeking approval for its proposed recapitalization strategy, aiming to have creditors exchange debt for ownership in a new parent company.
