Corus Entertainment, the owner of the Global Television Network and numerous radio stations, is set to implement programming adjustments nationwide leading to the loss of several jobs. The decision comes amidst Corus facing a continual decline in advertising revenue and increasing debt. Unifor, the union representing many media employees, including those at Corus, disclosed that 43 positions will be eliminated. Unifor’s national president, Lana Payne, expressed concerns about the impact of this consolidation, particularly on local news coverage in Western Canada. The job reductions are distributed as follows: 28 in Alberta, 2 in British Columbia, 5 in Winnipeg, 2 in Saskatoon, 3 in the Maritimes, and 3 in Ontario.
An internal memo from Corus obtained by CBC News revealed that these changes are essential to sustain operations and enhance operational flexibility. While Corus plans to centralize some production of its Global News broadcasts for Alberta, it affirms that local news content will still be produced in provincial studios. Additionally, the company intends to introduce new positions to support local news delivery. Scott Roberts, the co-anchor of Global Edmonton’s 6 p.m. newscast, shared on Instagram that he will no longer be reporting the evening news due to the significant cuts in local news coverage.
Corus reiterated its commitment to local news delivery in Calgary and Edmonton despite the production centralization. The company’s spokesperson, Annie Arnone, stated that while some roles are affected by the changes, additional positions will be created to maintain news programming in these markets. Corus is yet to comment on individual personalities, with updates expected to be reflected on-air in the coming weeks.
The recent decline in radio and TV revenue was highlighted by Corus CEO John Gossling, attributing it to the ongoing pressure on linear television advertising demand. Corus shares on the Toronto stock exchange have plummeted nearly 70% over the past year, reaching a critical financial state. The company’s substantial debt, primarily stemming from its acquisition of Shaw Media in 2016, has raised financial challenges. A debt-for-equity swap was approved by the Ontario Superior Court of Justice to alleviate Corus’s debt burden. The transaction involves lenders forgiving around $500 million to gain majority ownership of a new parent corporation, NewCo, which would wholly own Corus and its services. Regulatory approval, including from the Canadian Radio-television and Telecommunications Commission, is required for this transaction to proceed.
Corus estimates that this transaction could save up to $40 million in annual interest costs. The job cuts at Corus follow similar actions at Bell Canada and Rogers Sports & Media, indicating ongoing challenges in the media industry. Rogers recently announced the elimination of 230 positions, including the closure of radio stations in several cities, while Bell Canada confirmed plans to cut nearly 700 jobs. In a restructuring move, BCE reduced its workforce by nine percent in 2024, affecting approximately 4,800 jobs, and divested numerous radio stations and television newscasts.
