Inside the decline of Corus Entertainment

At its height, Global Television was a Canadian powerhouse, watched by more than 17 million people weekly, but today experts say it needs to take drastic action if the show is to go on. After a series of financial blows, high profile layoffs, lost licensing rights and executive departures, analysts interviewed by the Star say the network’s owner will need to dramatically overhaul the company — or be allowed to refinance its debt — to stave off bankruptcy. 

Toronto-based Corus Entertainment is Canada’s largest independent media company, owner of Global Television Network, more than 30 local radio stations and the Canadian distributor of channels such as Food Network, Disney Channel and National Geographic. It has amassed a staggering debt of more than $1 billion, with about $300 million due for repayment within three years and no obvious way to raise the money while keeping the company intact.







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Troy Reeb, co-CEO of Corus Entertainment. In June, long-time CEO Doug Murphy abruptly left the company, replaced by Reeb and John Gossling. 




A perfect storm 

An exodus of talent







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Global anchors Alan Carter and Farah Nasser have left.




An industry in decline

Can Corus be saved?

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