# Corus Entertainment debt recapitalization > Live situation record from CLSTR: https://clstr.news/situations/corus-entertainment-debt-recapitalization > Updated: 2026-10-08T21:04:47.000Z. Sources: 12. Developments: 2. Corus Entertainment has undergone a significant financial restructuring to address a $1.1 billion debt load. In September, the Canadian Radio-television and Telecommunications Commission (CRTC) approved a recapitalization plan designed to stabilize the broadcaster. The plan involved secured lenders forgiving approximately $500 million in debt in exchange for 99 per cent ownership of a newly formed parent entity. By October, the recapitalization was completed, making Corus a wholly owned subsidiary of the newly created Corus Entertainment Holdings Inc. This restructuring is expected to reduce annual cash interest costs by up to $40 million and extend debt maturities by five years. Following the transaction, the company appointed a new independent Board of Directors chaired by Maryann Turcke, with additional members including Stuart Garvie, Erin O’Toole, and Jere. The company also initiated the delisting of its class B non-voting shares from the Toronto Stock Exchange, with new shares scheduled to begin trading on October 13. ## Timeline ### 2026-10-08: Corus Entertainment completes recapitalization and new board appointment Corus Entertainment completes a $500 million debt restructuring and appoints a new board. Meanwhile, Canadian provinces urge expanded mining tax credits, and a new documentary explores an Ontario encampment. 9 sources. https://clstr.news/cluster/corus-entertainment-completes-recapitalization-and-appoints-new-board ### 2026-09-17: Corus Entertainment receives CRTC approval for debt recapitalization plan The CRTC has approved a recapitalization plan for Corus Entertainment, allowing lenders to forgive $500 million in debt in exchange for 99 per cent ownership of a new parent company. 4 sources. https://clstr.news/cluster/corus-entertainment-receives-crtc-approval-for-debt-recapitalization-plan --- Cite as: Corus Entertainment debt recapitalization. CLSTR, https://clstr.news/situations/corus-entertainment-debt-recapitalization