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CORUS ENTERTAINMENT RECEIVES COURT ORDER TO PROCEED WITH RECAPITALIZATION TRANSACTION VIA CBCA
CORUS ENTERTAINMENT RECEIVES COURT ORDER TO PROCEED WITH RECAPITALIZATION TRANSACTION VIA CBCA ...
About this update from Corus Entertainment Inc. Class B
[{"type":"text","content":"\n\n\nCORUS ENTERTAINMENT RECEIVES COURT ORDER TO PROCEED WITH RECAPITALIZATION TRANSACTION VIA CBCA\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\n\n\n\n\n\nCanada NewsWire\n\n\nTORONTO, March 24, 2026 /CNW/ - Corus Entertainment Inc. (\"Corus\" or the \"Company\") (TSX: CJR.B) announced today that it has received an order from the Ontario Superior Court of Justice (Commercial List) to proceed with its previously announced recapitalization transaction (the \"Recapitalization Transaction\"), pursuant to a plan of arrangement under the Canada Business Corporations Act.\nThe Recapitalization Transaction remains subject to, among other things, satisfaction of the terms and conditions in the support agreements with key stakeholders and the receipt of all customary and necessary regulatory approvals, including from the Canadian Radio-television and Telecommunications Commission (the \"CRTC\") and the Toronto Stock Exchange.Corus is working expeditiously to obtain all necessary regulatory approvals and complete the Recapitalization Transaction as soon as reasonably practicable. Corus will provide updates as to timing of completion when further information regarding timing of CRTC approval is known.Transaction BenefitsThe Recapitalization Transaction is designed to strengthen Corus' financial foundation and support the Company's long-term business strategy by:Reducing total third-party debt and other liabilities by more than $500 millionDecreasing initial annual cash interest payments by up to $40 millionExtending debt maturity by five yearsMaintaining continued access to a $125 million secured revolving credit facilityFor more details regarding the Recapitalization Transaction, visit www.corusent.com/proposed-transaction.Corus continues to operate in the normal course of business with no changes to any obligations to its clients, suppliers, production partners, trade creditors or employees and looks forward to completing the Recapitalization Transaction.Caution Regarding Forward-Looking InformationThis press release contains forward-looking information and should be read subj...