{
  "id": 13004647,
  "title": "Corus completes recapitalization transaction, announces new board of directors",
  "url": "https://urgent.news/2026/10/08/corus-completes-recapitalization-transaction-announces-new-board-of-13004647",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T21:46:38.000Z",
  "source": {
    "name": "CityNews",
    "slug": "citynews",
    "url": "https://toronto.citynews.ca/2026/10/08/corus-completes-recapitalization-transaction-announces-new-board-of-directors/"
  },
  "original_language": "en",
  "account": "Corus Entertainment Inc. has finalized a recapitalization transaction that was previously announced in November of last year. The deal entails some of the company's lenders forgiving around $500 million in debt in return for 99 percent ownership of a newly formed parent corporation that will own Corus and its services fully. Corus is expected to see its class B non-voting shares delisted from the Toronto Stock Exchange by the end of trading on October 9, with new shares starting to trade on October 13.\n\nThe Canadian Radio-television and Telecommunications Commission (CRTC) granted Corus regulatory approval for its plan in September. This change in ownership and control over all licensed programming services operated by Corus and its subsidiaries is aimed at addressing the company's \"significant financial challenges\". The CRTC stated that the transaction would assist in ensuring Corus remains a part of the Canadian broadcasting industry.\n\nCorus currently owns 25 specialty television services, 15 conventional stations, 36 radio stations, along with digital and streaming platforms.",
  "summary": "Corus Entertainment Inc. says it has completed a recapitalization transaction first announced in November of last year and has appointed a new board of directors.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Winnipeg Free Press",
        "title": "Corus completes recapitalization transaction, announces new board of directors",
        "url": "https://urgent.news/2026/10/08/corus-completes-recapitalization-transaction-announces-new-board-of",
        "published": "2026-10-08T21:46:38.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}