Corus Entertainment has implemented reductions within its television and radio divisions. A spokesperson for the company confirmed that a “limited number” of adjustments have been made 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 the sustainability of their teams’ structures, while minimizing any disruptions to local news and audio services. This recent decision follows prior job cuts by Corus earlier in the year, primarily in Western Canada, as part of broader programming modifications nationwide.
In its latest financial report, Corus recorded a net loss attributable to shareholders amounting to $36.5 million in the third quarter, with revenue for the period declining by 16% compared to the previous year. The company is currently awaiting approval for its proposed recapitalization strategy, which involves creditors exchanging debt for equity in a new overarching corporation.