Corus Entertainment cuts employee costs by 7% in Q3 as TV revenue struggles continue

Corus Entertainment cuts employee costs by 7% in Q3 as TV revenue struggles continue

TORONTO - Corus Entertainment Inc. slashed seven per cent of employee costs in its most recent quarter, as the company says it will continue to look for savings amid an advertising revenue slump.

‘Continued Lower Demand’ For Linear Advertising To Hurt Corus | Radio & Television Business Report

TORONTO — When will the fiscal ills end for the owner of the Global television network; a host of cable TV channels; the Canadian version of the Pluto TV FAST channel platform; and a group of radio stations including CILQ “Q107,” CFNY “The Edge,” and CFIQ-AM 640 in Canada’s biggest market? Not in fiscal 2025, Corus Entertainment revealed on Thursday. Please Login to view this premium content. (Not a member? Join Today!)

ILNF funding for Global will make ‘huge impact’ in tough market: Corus CEO

By Ahmad Hathout The head of Corus said Thursday that the CRTC’s recent decision to make the company’s 15 Global stations eligible for funding from the Independent Local News Fund (ILNF) will make a significant impact on its financials, as it deals with advertising uncertainty heading into the fourth quarter. It’s too soon to tell... Read more »

Corus predicting further 20 per cent TV ad revenue decline in Q4 - Broadcast Dialogue

Corus Entertainment says it’s anticipating further declines in TV advertising revenue, as the company announced its third quarter financial results Thursday. The quarter saw Corus slash employee costs by seven per cent as part of an overall reduction in expenses equalling $10 million in cost savings. Consolidated revenue decreased 10% for the quarter and 11% for the year-to-date, with the company reporting a net loss to shareholders of $7.3 mill…