Shaw Family Loses Control of Canadian Media Giant Corus in $1.2B Debt Restructuring
The Shaw family will lose its 25-year stake in Corus Entertainment through a $1.2 billion debt-for-equity swap that transfers control to creditors. The restructuring wipes out existing shareholders in Canada's third-largest broadcaster, which operates Global Television and 33 specialty channels. The collapse mirrors media industry turmoil across North America and Europe as streaming platforms erode traditional TV revenues.
ViaNews Editorial Team•