CRTC approves Corus Entertainment recapitalization plan

The Canadian Radio-television and Telecommunications Commission (CRTC) has greenlit Corus Entertainment's plan to restructure its $1.1 billion in debt. The Ontario Superior Court had previously approved the transaction in March, but it required the CRTC's approval for the ownership transfer. In November 2025, Corus reached an agreement with its secured lenders to restructure the company's debt.

During its decision-making process, the CRTC held public consultations and received input from 53 stakeholders, including broadcasters, associations, and community groups. Despite the commission's usual requirement for buyers to distribute a portion of the purchase value to independent Canadian media funds, it granted an exemption for this particular deal.

The CRTC acknowledged Corus Entertainment's significant contributions to Canadian broadcasting through its local, regional, and national news programming and support for independent producers.

The recapitalization transaction is anticipated to bolster Corus' financial position and provide a long-term solution by substantially reducing existing debt and maintaining access to secured lending and liquidity. The deal entails a reduction of total debt and liabilities by over $500 million, a decrease in annual cash interest by up to $40 million, and an extension of debt maturity by five years. The transaction is expected to be finalized in the coming weeks after various closing conditions are met.