Canadian TV company Corus Entertainment plans to sell the business

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AK&M Information Agency

November 2, 2024

Canadian broadcaster Corus Entertainment Inc. has engaged Jefferies Financial Group to evaluate a proposed deal to sell the business. This is reported in the Corus press release.

In July 2024, the management of Corus warned investors about debt problems that could lead to the inability of the company to continue its activities. The company’s debt exceeds 1 billion Canadian dollars, including bonds worth 500 million Canadian dollars maturing in 2028 and 250 million Canadian dollars maturing in 2030.

At the end of October, Corus announced a reduction in the volume of the credit line to 150 million Canadian dollars ($108 million) from 300 million Canadian dollars in exchange for more lenient terms from creditors. The company has entered into a deal with a consortium of banks led by RBC Capital Markets and TD Securities to amend the terms of the main credit line with the ability to request advances of up to 65 million Canadian dollars.

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6 COMMENTS

  1. Time to return broadcast outlets to local ownership! Get the CRTC off its b**t and lay down some rules of ownership with regulations to match and the guts to enforce them.

  2. Too late for that Terry. The horse has left the barn. 99% of the programming on radio and tv is just plain crap. And don’t get me started on that bigger pile of poop…local.

  3. Terry is so right, the pinheads in the east have no clue about the west and what type of programming works in the west, a perfect example is NW, owned and controlled by the east, look how their programming has plunged, especially evenings and weekends

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