Corus Entertainment is implementing reductions at its television and radio divisions. A spokesperson for the company has indicated that a “limited number” of adjustments have been undertaken in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. These alterations are described as challenging yet essential to ensure that their teams are organized in a sustainable manner, with the goal of minimizing any disruptions to local news and audio services. This recent development follows Corus’ previous job cuts earlier this year, predominantly in Western Canada, as part of nationwide programming modifications.
In its third quarter, Corus recently disclosed a net loss attributable to shareholders amounting to $36.5 million, with a 16% decline in revenue compared to the same period last year. The company is currently awaiting approval for its proposed restructuring plan, which involves creditors exchanging debt for ownership in a new parent entity.