Corus Entertainment has announced reductions in staff across its television and radio divisions. A spokesperson for the company indicated that they have implemented a limited number of adjustments in specific regions, affecting positions at Global B.C., Global National, News 640, and talk radio. These changes, though challenging, are deemed necessary to restructure their teams in a sustainable manner while aiming to minimize disruptions to local news and audio services. This decision follows previous staff reductions earlier this year, primarily in Western Canada, as part of nationwide programming alterations.
In its most recent financial update, Corus disclosed a net loss of $36.5 million for the third quarter, with revenue declining by 16% compared to the previous year. The company is currently seeking approval for a proposed restructuring plan that involves converting debt into equity in a new parent company.