[REVISION HISTORY]

Corus Entertainment debt recapitalization

Updated 1 time since CLSTR started tracking revisions of this situation.

What changed

2026-10-09 02:25 UTC → 2026-10-10 12:58 UTC · added ~~removed~~

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~~ 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.~~ Exchange, with new shares scheduled to begin trading on October 13.

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