(Toronto) Corus Entertainment says it has “made some changes” to Global News, the same phrase that led to massive cuts at other media outlets.
Global News spokeswoman Anna Arnone said the move is part of an ongoing evaluation of its operations and review of efficiency within Corus.
She declined to provide further details, saying only that some positions had been affected, without mentioning whether any employees had been laid off.
“These changes are in line with the current economic and regulatory reality in which we find ourselves, as well as other media organizations,” wrote Mme Arnone in an emailed statement.
“We are continually working to improve the way we gather, produce and distribute award-winning content. »
Corus announced last week that it had been informed by Warner Bros. Discovery that some of its programming agreements would not be renewed when they expire at the end of the year.
On Monday, Rogers Communications announced it has signed multi-year deals with NBCUniversal and Warner Bros for their popular lifestyle and entertainment brands in Canada, including HGTV, Food Network and others.
These agreements will come into force in January 2025.
In April, Corus Chief Executive Doug Murphy said the company was continuing to cut costs following job cuts and a programming reduction plan launched last year.
He said the company cut expenses by 13 percent, or $38 million, during its last quarter ended Feb. 29, and that it had cut costs by 15 percent, or $88 million, since the start of the year. ‘year.
Corus reported a loss attributable to shareholders of 9.8 million during its second quarter. On this subject, Doug Murphy recalled that there could still be lingering effects of last year’s strikes in Hollywood which caused a crisis in the advertising world.
He also cited “other persistent distortions in the advertising market, whether due to the economy or increased competition.”
Last month, Canada’s broadcast regulator granted Corus’ request to relax some of its Canadian content spending requirements after the company warned of a worsening financial situation. and more disastrous.
Corus asked the Canadian Radio-television and Telecommunications Commission to “urgently” make these changes last October, saying they would provide “much-needed flexibility” amid programming and advertising uncertainty, as well as “severely limited” finances.
Corus shares closed down five cents, or 17.5 per cent, at 23.5 cents on the Toronto Stock Exchange on Wednesday.
Other broadcasters have cut jobs this year due to financial problems.
Bell Canada cited the lack of progress in its request for regulatory relief when it announced in February that it would cut an additional 4,800 positions, sell 45 radio stations, terminate several television newscasts and eliminate others programs.