Corus Entertainment, the owner of Global Television Network and several radio stations, has announced that it will be implementing programming changes nationwide leading to the elimination of numerous jobs. The decision comes in response to Corus facing a continual decline in advertising revenue and increasing debt.
According to Unifor, the union representing numerous media workers, including those at Corus, a total of 43 positions will be axed. Unifor’s national president, Lana Payne, expressed concerns about the impact on local news, particularly in Western Canada.
The breakdown of 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.
In an internal communication from Corus obtained by CBC News, the company stated that these changes are essential to ensure the sustainability of their operations and provide increased flexibility. While some production for Global News broadcasts in Alberta will be centralized, local news content will still be produced in provincial studios. Additionally, Corus plans to introduce new roles to support local news delivery.
Scott Roberts, 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. He expressed gratitude to viewers and solidarity with impacted colleagues.
The news of the restructuring at Corus was initially reported by the Western Standard news website. A spokesperson for Corus, Annie Arnone, affirmed the company’s commitment to maintaining local news delivery in Calgary and Edmonton amidst the changes.
Corus has faced declines in both radio and television revenue, with CEO John Gossling attributing this to ongoing pressure on linear television advertising demand. The company’s stock has plummeted nearly 70% in the past year, largely due to financial challenges stemming from its 2016 acquisition of Shaw Media.
Last month, the Ontario Superior Court of Justice approved a debt-for-equity swap between Corus and its lenders to alleviate the company’s debt burden. This proposal involves lenders forgiving around $500 million in debt in exchange for majority ownership of a new parent corporation, NewCo, which would wholly own Corus.
The restructuring at Corus follows similar job cuts at industry counterparts like Bell Canada and Rogers Sports & Media. Recently, Rogers announced the elimination of 230 positions and the closure of radio stations, while Bell Canada confirmed plans to cut nearly 700 jobs in a prior announcement. BCE, the parent company of Bell Canada, had previously reduced its workforce by nine percent, affecting approximately 4,800 roles in a restructuring that included the sale of radio stations and discontinuation of various television newscasts.