advertisement
Charts

Take Me To Church

Hozier

Take Me To Church
advertisement
Media Beat: A Corus of Skeptical Shareholders (Column)
Photo by Austin Distel on Unsplash
FYI

Media Beat: A Corus of Skeptical Shareholders (Column)

Also this week: Cogeco profits roar ahead, Jimmy Pattison keeps growing and a possible future in which generative AI takes over the internet.

With almost $800M in maturing bank debt and bonds that need to be renegotiated in the next several years, analysts are questioning the ongoing viability of Corus Entertainment with its hemorrhaging financials pulling down its stock price to $0.15, giving it a market capitalization of only $29M, down from a $25 share price and $2B market cap at the end of 2014. The Globe and Mail cites a TD report that has argued that the actual equity value may be zero, given $1.1B of net debt.

As per The Star’s business reporter Anna Pereira, “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 have told the newspaper that the network’s owner will need to dramatically overhaul the company — or be allowed to refinance its debt — to stave off bankruptcy.”

keep readingShow less
advertisement