{"id":4416,"date":"2026-03-24T21:29:52","date_gmt":"2026-03-24T21:29:52","guid":{"rendered":"https:\/\/www.worldpumpnews.com\/?p=4416"},"modified":"2026-03-24T21:29:52","modified_gmt":"2026-03-24T21:29:52","slug":"corus-recapitalization-plan-approved-by-ontario-court-national","status":"publish","type":"post","link":"https:\/\/www.worldpumpnews.com\/?p=4416","title":{"rendered":"Corus recapitalization plan approved by Ontario court &#8211; National"},"content":{"rendered":"<p><\/p>\n<div data-article-socialshare=\"true\">\n<div id=\"article-fontSizer\" class=\"c-fontSizer\">\n<p>\n\t\t<button class=\"c-fontSizer__button c-fontSizer__button--decrease c-button c-button--details c-button--mini\" data-trackable=\"true\" data-trackaction=\"Font Sizer Decrease Font\" data-tooltip-title=\"Decrease text size\"><br \/>\n\t\t\t<span class=\"sr-only\">Descrease article font size<\/span><br \/>\n\t\t\t\t<svg class=\"c-icon  c-fontSizer__icon\" focusable=\"false\">\n\t\t<use xlink:href=\"https:\/\/globalnews.ca\/wp-content\/themes\/shaw-globalnews\/assets\/dist\/icons\/out\/symbol\/svg\/sprite.symbol.svg?v=03zxzk4qx#font-decrease\"\/>\n\t<\/svg><br \/>\n\t\t\t<\/button>\n\t<\/p>\n<p>\n\t\t<button class=\"c-fontSizer__button c-fontSizer__button--increase c-button c-button--details c-button--mini\" data-trackable=\"true\" data-trackaction=\"Font Sizer Increase Font\" data-tooltip-title=\"Increase text size\"><br \/>\n\t\t\t<span class=\"sr-only\">Increase article font size<\/span><br \/>\n\t\t\t\t<svg class=\"c-icon  c-fontSizer__icon\" focusable=\"false\">\n\t\t<use xlink:href=\"https:\/\/globalnews.ca\/wp-content\/themes\/shaw-globalnews\/assets\/dist\/icons\/out\/symbol\/svg\/sprite.symbol.svg?v=03zxzk4qx#font-increase\"\/>\n\t<\/svg><br \/>\n\t\t\t<\/button>\n\t<\/p>\n<\/div>\n<\/div>\n<div id=\"\">\n<p>The Ontario Superior Court has approved Corus Entertainment\u2019s request to proceed with a previously announced recapitalization.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/d21y75miwcfqoq.cloudfront.net\/70c8fc80\" alt=\"\" style=\"position:absolute;width:1px;height:1px\" referrerpolicy=\"no-referrer-when-downgrade\"\/><\/p>\n<p>The deal had originally gone to a shareholder vote in January but after narrowly falling short of full shareholder approval, Corus sought court approval to move ahead with its plan as it was permitted to do.<\/p>\n<p>\u201cAs we have said, we believe the proposed recapitalization transaction represents the best path for Corus and I\u2019m very pleased with today\u2019s decision,\u201d John Gossling, Corus\u2019 chief executive officer, said in a statement.<\/p>\n<div class=\"c-inlineSignup\" data-newsletter-inline=\"\">\n<div class=\"c-inlineSignup__image\">\n\t\t\t\t\t<img decoding=\"async\" width=\"170\" height=\"225\" loading=\"lazy\" src=\"https:\/\/globalnews.ca\/wp-content\/themes\/shaw-globalnews\/images\/skyline\/money123.jpg\" alt=\"Get expert insights, Q&amp;A on markets, housing, inflation, and personal finance information delivered to you every Saturday.\"\/>\n\t\t\t\t<\/div>\n<div class=\"c-inlineSignup__content\">\n<h2 class=\"c-inlineSignup__title\">Get weekly money news<\/h2>\n<p>Get expert insights, Q&amp;A on markets, housing, inflation, and personal finance information delivered to you every Saturday.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<p>\u201cThis is a positive step forward as we work towards closing the transaction expediently to position the company for the future.<\/p>\n<p>While 99 per cent of Senior Noteholders and Class A shareholders voted in favour of the recapitalization plan in January, only 29.8 per cent of Class B shareholders voted. Of those, 61.2 per cent voted in favour of the deal, falling short of the two-thirds required.<\/p>\n<div class=\"c-ad c-ad--bigbox l-article__ad\">\n<p>Story continues below advertisement<\/p>\n<\/p><\/div>\n<p>Corus Entertainment, the parent company of Global News, had reached the proposed deal with its secured lenders in November 2025 as an attempt to restructure the company\u2019s $1.1 billion of debt.<\/p>\n<div class=\"c-tabs\">\n<p>\n\t\t\t<button role=\"tab\" class=\"c-tabs__tab c-tabs__tab--active\" type=\"button\">More on Money<\/button><br \/>\n\t\t\t<button role=\"tab\" class=\"c-tabs__tab\" type=\"button\">More videos<\/button>\n\t\t<\/p>\n<\/p><\/div>\n<p>At the time, Gossling said the deal would \u201csolidify our financial foundation and position Corus for the long-term.\u201d<\/p>\n<p>The deal includes a reduction of total debt and liabilities by more than $500 million and a slashing of annual cash interest by up to $40 million as well as extending debt maturity by five years.<\/p>\n<p>The recapitalization plan followed a period of declining advertising revenue, heightened competition from streaming services, and a challenging regulatory environment as well as a series of cost-cutting measures by the media company.<\/p>\n<p>The deal is subject to CRTC approval.<\/p>\n<\/p><\/div>\n<div>\n<p>\n\t\t&amp;copy 2026 Global News, a division of Corus Entertainment Inc.\t<\/p>\n<\/div>\n<p>#Corus #recapitalization #plan #approved #Ontario #court #National<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Descrease article font size Increase article font size The Ontario Superior Court has approved Corus Entertainment\u2019s request to proceed with a previously announced recapitalization. The deal had originally gone to a shareholder vote in January but after narrowly falling short of full shareholder approval, Corus sought court approval to move ahead with its plan as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[3033,1205,1204,2719,17,50,4518,704,1207],"class_list":{"0":"post-4416","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-politics","8":"tag-approved","9":"tag-corus","10":"tag-corus-entertainment","11":"tag-court","12":"tag-money","13":"tag-national","14":"tag-ontario","15":"tag-plan","16":"tag-recapitalization"},"_links":{"self":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/posts\/4416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4416"}],"version-history":[{"count":0,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/posts\/4416\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/media\/4417"}],"wp:attachment":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}