Corus Entertainment, the owner of Global Television Network and multiple radio stations, is set to undergo programming adjustments nationwide leading to the loss of numerous jobs. The decision comes in light of Corus facing a continuous decline in advertising revenue and an increase in debt.
Unifor, the union representing numerous media professionals, including those at Corus, disclosed that 43 positions will be eliminated. Unifor’s national president, Lana Payne, emphasized that the consolidation would negatively impact local news, particularly in Western Canada, as evidenced by the current situation.
The breakdown of the job cuts by region includes 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, indicated that the modifications are crucial to sustain operations and enhance operational flexibility. While some production of Global News broadcasts for Alberta will be consolidated, Corus assured that local news content will still be produced in the province. The company also plans to introduce a yet undisclosed number of new positions to bolster local news delivery.
One of the affected individuals, Scott Roberts, co-anchor of Global Edmonton’s 6 p.m. newscast, shared his sentiments on Instagram, expressing regret over the significant cuts to local news that led to his departure and extending thoughts to impacted colleagues.
News of the changes at Corus was initially reported by the Western Standard news website. Corus spokesperson Annie Arnone emphasized the company’s commitment to maintaining local news delivery in Calgary and Edmonton despite centralizing some production roles.
Corus CEO John Gossling highlighted the persistent challenges in linear television advertising demand, resulting in notable year-over-year declines in radio and television revenue. The company’s stock has sharply dropped by nearly 70% over the past year, reflecting substantial financial hurdles, including a substantial debt load stemming from the 2016 acquisition of Shaw Media.
The Ontario Superior Court of Justice recently approved a debt-for-equity swap between Corus and its lenders to alleviate the debt burden. The proposal entails debt forgiveness by some lenders in exchange for ownership in a new parent corporation, NewCo, which would wholly possess Corus and its services pending regulatory approvals.
Corus estimates that the proposed transaction could generate up to $40 million in annual interest savings. These layoffs follow recent job cuts at industry peers such as Bell Canada and Rogers Sports & Media. Rogers recently announced plans to eliminate 230 positions, including the closure of radio stations, while Bell Canada confirmed reducing its workforce by nearly 700 jobs last month. BCE, Bell Canada’s parent company, underwent significant restructuring in 2024, resulting in a considerable workforce reduction and the divestment of various media assets.
