US EditionCorus announces recapitalization deal as it seeks relief from its debt burden
Lenders will own 99% after Corus reduces debt by over $500 million and cuts annual interest by up to $40 million to address financial challenges, company said.
- A recapitalization deal announced Nov. 3, 2025, gives secured lenders control after exchanging $500 million of senior notes for 99 shares in the restructured company, pending regulatory approval.
- Facing industry pressures, Corus reported a 23 per cent drop in Q4 TV ad revenue to $88.7 million and a $277.1 million loss, prompting restructuring.
- Under the terms announced, noteholders will swap $500 million of senior notes, reducing total debt and liabilities by more than $500 million and cutting annual cash interest by up to $40 million.
- Existing Corus shareholders are expected to receive shares representing 1% of the restructured company as creditors take the equity and debt risks.
- Corus executives said the transaction will strengthen the company's finances and provide more flexibility to pursue cost efficiencies and growth in digital media and partnerships.
13 Articles
13 Articles
The Hamilton Spectator
Corus Entertainment announces recapitalization deal, will swap debt for shares
TORONTO - Corus Entertainment Inc. says it has signed a recapitalization deal that will see its debtholders take ownership of the company.
Corus announces proposed 'recapitalization transaction'
Corus Entertainment has announced a major plan to reorganize its finances that could save the media company up to $40 million in annual cash interest payments. If the plan is approved by the courts and shareholders, Corus says it will cut its third-party debt and other liabilities by over $500 million. The proposed “recapitalization transaction” is a complex debt-for-equity swap designed to stabilize the company’s financial foundation. It comes …
Corus Entertainment
NewswireCORUS ENTERTAINMENT ANNOUNCES RECAPITALIZATION TRANSACTION
Proposed recapitalization transaction strengthens Corus’ financial position, provides long-term solution that supports sustainable business strategy Expected to materially reduce existing debt, maintain secured lending facility, and increase liquidity access over several years To be facilitated by way of a plan of arrangement, with Corus seeking to reduce total debt and other liabilities by over $500 […]
Coverage Details
Bias Distribution
- 50% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
