Corus Entertainment has implemented reductions within its television and radio divisions. A spokesperson for the company stated that they have enacted a “limited number” of modifications in specific regions, affecting positions at Global B.C., Global National, News 640, and talk radio. These adjustments are described as challenging but essential to ensure that their teams are organized in a sustainable manner while minimizing disruptions to local news and audio content delivery.
This latest action follows previous job cuts by Corus earlier in the year, primarily in Western Canada, as part of nationwide programming alterations. Recently, Corus reported a net loss of $36.5 million attributable to shareholders in the third quarter, with revenue declining by 16% compared to the previous year. The company is currently seeking approval for its proposed recapitalization strategy, which involves lenders exchanging debt for equity in a new parent company.