Corus Entertainment has implemented reductions within its television and radio divisions. A spokesperson revealed that the company has enacted a limited number of alterations in specific markets, impacting roles at Global B.C., Global National, News 640, and talk radio. These adjustments, though challenging, are deemed essential to ensure the sustainability of their teams’ structure while minimizing disruptions to local news and audio services. This development follows previous job cuts by Corus earlier this year, predominantly in Western Canada, as part of nationwide programming modifications.
In its recent financial report, Corus disclosed a net loss attributable to shareholders amounting to $36.5 million in the third quarter, with a 16% decline in revenue compared to the previous year. The company is currently awaiting approval for its proposed restructuring plan, which involves lenders exchanging debt for equity in a new parent corporation.