{"id":899910,"date":"2026-09-18T02:30:09","date_gmt":"2026-09-18T02:30:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/899910\/"},"modified":"2026-09-18T02:30:09","modified_gmt":"2026-09-18T02:30:09","slug":"corus-receives-crtc-approval-to-go-ahead-with-recapitalization-transaction","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/899910\/","title":{"rendered":"Corus receives CRTC approval to go ahead with recapitalization transaction"},"content":{"rendered":"

Corus receives a lifeline<\/p>\n

Daniel Johnson, The Canadian Press – Sep 17, 2026 \/ 4:19 pm | Story: 631641<\/p>\n

\"The<\/p>\n

Photo: The Canadian Press<\/p>\n

The new Corus logo at Corus Quay in Toronto is photographed on Friday, June 22, 2018. THE CANADIAN PRESS\/ Tijana Martin<\/p>\n

Struggling media company Corus Entertainment Inc. has received a lifeline.<\/p>\n

The Canadian Radio-television and Telecommunications Commission today granted regulatory approval for a recapitalization plan that would see a change in ownership and shift effective control of all licensed programming services operated by the company and its subsidiaries.<\/p>\n

Corus had indicated to the CRTC that the proposed deal is necessary to address its high debt load and improve its financial stability so it can continue to operate.<\/p>\n

Under the proposal, first announced in November, some of Corus\u2019s lenders forgive approximately $500 million in debt in exchange for 99 per cent ownership of a newly created parent corporation, called NewCo, that would wholly own Corus and its services.<\/p>\n

Existing Corus shareholders would be expected to swap their holdings for shares that together would represent the remaining one per cent of the new company.<\/p>\n

Corus says its business is expected to continue as normal with no anticipated effect on its obligations to clients, producers, suppliers or employees.<\/p>\n

The company announced in February it would seek court approval for the recapitalization deal that after a shareholder vote on the proposal failed to pass.<\/p>\n

In March, Corus received an order from the Ontario Superior Court of Justice to proceed with its recapitalization plan.<\/p>\n

The company says it expects the recapitalization transaction to close in the coming weeks, pending other conditions and customary approvals.<\/p>\n","protected":false},"excerpt":{"rendered":"Corus receives a lifeline Daniel Johnson, The Canadian Press – Sep 17, 2026 \/ 4:19 pm | Story:…\n","protected":false},"author":2,"featured_media":899911,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[49,48,75,348],"class_list":["post-899910","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tv","tag-ca","tag-canada","tag-entertainment","tag-tv"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/899910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=899910"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/899910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/899911"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=899910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=899910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=899910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}