Corus to cut dozens of media jobs across Canada

Corus amusement, possessor of the world(a) tv web and multiple radio stations, says programming changes across Canada will result in dozens of job losses. The move comes as Corus grapples with a persistent drop in advertising sales and rising debt.

Unifor — the union which represents thousands of media workers, including at Corus — said 43 jobs will be cut.

"We warned that consolidation would come at the expense of local news, particularly in Western Canada, and that is exactly what we're seeing," Unifor national president Lana Payne said in a statement.

Corus says while some production of its Global News broadcasts for Alberta will be centralized under the plan, it will continue producing local news content in studios in the province. The company said it will also add an undisclosed number of new roles to support its local news delivery.

"Sad to say, but I won't be reporting the evening news on Global any longer. The company is making significant cuts to local news and I among them," Scott Roberts, co-anchor of Global Edmonton’s 6 p.m. Newscast wrote on Instagram on Thursday.

"Thank you to everyone who invited me into their homes over the past four years," he added. "Thinking of all my colleagues impacted by the layoffs."

News of the changes at Corus were first reported by the Western Standard news website on Wednesday.

“Corus is committed to local news and will maintain its local news delivery in Calgary and Edmonton. While some roles have been impacted as we centralize production, we are adding additional roles to continue providing news programming in these markets,” Corus spokesperson Annie Arnone wrote in an email on Thursday.

“At this time, we are not commenting on individual personalities. Changes will be reflected in the coming weeks on air.”

Last month, Corus chief executive officer John Gossling cited “continued pressure on linear television advertising demand” as the company reported double-digit year-over-year declines in radio and television revenue. 

Toronto-listed Corus shares have plunged nearly 70 per cent over the past 12 months, reaching penny stock territory, amid mounting financial challenges. Corus ended its latest quarter with $1.16 billion in debt on its balance sheet. Much of this debt is linked to the company’s 2016 purchase of Shaw Media in a deal valued at $2.65 billion.

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Last month, the Ontario Superior Court of Justice formally approved a debt-for-equity swap between Corus and its lenders aimed at easing the company’s debt load. The proposal calls for some of Corus' lenders to forgive about $500 million in debt in exchange for 99 per cent ownership of a newly created parent corporation called NewCo, which would wholly own Corus and its services. The transaction requires approval from regulators, including the Canadian Radio-television and Telecommunications Commission. 

"Without the Recapitalization Transaction, or in the event it is not completed on the terms and timeline currently contemplated, the company will need to pursue alternative restructuring strategies, possibly under the Companies’ Creditors Arrangement Act," Corus stated in a press release in January.

"If a CCAA process is pursued, it is unlikely that there will be any recovery of any kind or amount to the holders of existing shares."  

Corus estimates the transaction would save up to $40 million in annual interest costs.

The cuts at Corus follow recent job losses at larger rivals Bell Canada and Rogers Sports & Media. 

Earlier this month, Rogers announced plans to eliminate 230 jobs. The company closed six radio stations in four Canadian cities, affecting 80 positions. The remaining cuts involved a variety of roles, including in sales and marketing.

Last month, Bell Canada, a division of telecom giant BCE, confirmed plans to cut nearly 700 jobs.

In 2024, BCE slashed nine per cent of its workforce, affecting about 4,800 jobs, in a shakeup that also saw the company offload dozens of radio stations, and end multiple television newscasts. The company owns media brands including CTV and TSN.

Senior writer

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