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CORUS ENTERTAINMENT PROVIDES VOTING RESULTS AND UPDATE REGARDING PROPOSED RECAPITALIZATION TRANSACTION
CORUS ENTERTAINMENT PROVIDES VOTING RESULTS AND UPDATE REGARDING PROPOSED RECAPITALIZATION TRANSA...
About this update from Corus Entertainment Inc. Class B
[{"type":"text","content":"\n\n\nCORUS ENTERTAINMENT PROVIDES VOTING RESULTS AND UPDATE REGARDING PROPOSED RECAPITALIZATION TRANSACTION\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\nCanada NewsWire\n\n\nTORONTO, Jan. 30, 2026 /CNW/ - Corus Entertainment Inc. (\"Corus\" or the \"Company\") (TSX: CJR.B) announced today the results of voting in respect of its proposed recapitalization transaction (the \"Recapitalization Transaction\") contemplated pursuant to a plan of arrangement under Section 192 of the Canada Business Corporations Act (the \"Arrangement\") and as described in the management information circular of the Company dated January 2, 2026 (the \"Circular\").  Voting was completed by the holders of the Company's Class A Voting Shares and Class B Non-Voting Shares (together, the \"Shareholders\") and the holders of the Company's outstanding unsecured senior notes in the aggregate principal amount of $750 million (the \"Senior Notes\", and such holders, the \"Senior Noteholders\") in respect of the Arrangement.  Based on the voting results, the requisite number of votes cast to pass the resolution in support of the Arrangement was obtained by each of the Senior Noteholders and the Class A Shareholders but not by the Class B Non-Voting Shareholders (who were entitled to vote in this circumstance).\nStrong overall support; Company intends to seek Court approval of Recapitalization Transaction\nAs indicated by the voting results below, there is strong overall support for the Arrangement, which represents the outcome of an exhaustive review of alternatives by the board of directors of Corus (the \"Board\").  Pursuant to the Recapitalization Transaction, Corus seeks to reduce its total third-party debt and other liabilities by more than $500 million, decrease annual cash interest payments by up to $40 million, and preserve the Company in its vital role as a leading independent Canadian broadcaster.\n\"We continue to strongly believe that the Recapitalization Transac...