Corus Entertainment restructuring plan puts bondholders in control of equity - report

[Company restructuring on book. Business and finance concept.]
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Corus Entertainment (OTCPK:CJREF [https://seekingalpha.com/symbol/CJREF]) has been reportedly nearing a restructuring deal that will see its bondholders take control of the equity, Bloomberg News reported on Wednesday, citing informed sources familiar with the private matter.

According to anonymous sources, the plan involves distributing a mix of equity and secured debt to creditors.

The restructuring aims to stabilize a business severely weakened by years of declining revenue and earnings across its Canadian television and radio networks.

According to the report [https://www.bloomberg.com/news/articles/2025-10-08/corus-entertainment-bondholders-to-take-control-in-debt-for-equity-swap], the deal will allow bondholders to take control of the equity and will give them the ability to make sweeping business changes. These changes could include selling assets like real estate and continuing the significant cost-cutting measures already underway.

Although the private deal may be unveiled in the coming weeks, the exact timing is not yet final, the report noted.

Creditors are working with Canaccord Genuity Group, while Jefferies Financial Group is advising Corus.

Corus's financial vulnerability—driven by the migration of audiences and advertisers to streaming services—was underscored last year when it lost crucial content and trademark deals [https://seekingalpha.com/news/4114272-corus-provides-updates-on-programming-and-trademark-output-arrangements] with Warner Bros. Discovery, including the rights to HGTV and The Food Network.

Last year, Quebecor had made an offer [https://seekingalpha.com/news/4150383-quebecor-reportedly-made-buyout-offer-to-rival-corus-but-did-not-hear-back] to acquire Corus, highlighting the ongoing interest in the company from other broadcasters, but the media company did not respond to the offer.

MORE ON CORUS ENTERTAINMENT INC.

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Corus Entertainment hires bank to explore sale - Bloomberg [https://seekingalpha.com/news/4238962-corus-entertainment-hires-bank-to-explore-sale-bloomberg#source=section%3Asummary%7Csection_asset%3Anews_news%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A4]

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Quebecor reportedly made buyout offer to rival Corus but did not hear back [https://seekingalpha.com/news/4150383-quebecor-reportedly-made-buyout-offer-to-rival-corus-but-did-not-hear-back#source=section%3Asummary%7Csection_asset%3Anews_news%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A7]

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Corus provides updates on programming and trademark output arrangements [https://seekingalpha.com/news/4114272-corus-provides-updates-on-programming-and-trademark-output-arrangements#source=section%3Asummary%7Csection_asset%3Anews_news%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A10]

* Historical earnings data for Corus Entertainment Inc. [https://seekingalpha.com/symbol/CJR.B:CA/earnings]
* Financial information for Corus Entertainment Inc. [https://seekingalpha.com/symbol/CJR.B:CA/income-statement]