Another broadcast veteran shown the door

[rtirdnewsguy]

https://dailyhive.com/calgary/rob-break ... ts-calgary

[Just sayin']

Corus stock trading at 11 cents today. Tells you everything you need to know. The company is a disaster, a buyer has not yet stepped up despite rumors, and the cuts will continue to stave off bankruptcy, for now.

[the-real-deal]

Corus stock trading at 11 cents today. Tells you everything you need to know. The company is a disaster, a buyer has not yet stepped up despite rumors, and the cuts will continue to stave off bankruptcy, for now.

What nobody on radiowest.ca (including my good friend "Aaron") has mentioned about Corus is that Corus Entertainment, earlier this year, received a valid offer to sell the company to a Quebec broadcasting company. But, no one on this site has mentioned that, nor do we know why the offer got rejected by Corus.

That said, why do I have to mention these things about Corus on behalf of radiowest.ca? Can't you guys follow your own commercial industry news, properly. Or , is it because the offer sheet came from a FRENCH (Quebec) businessman.

I know that you folks are racists and don't like French people ? Maybe that's the reason why you never brought it up !

"How about that," or is it " just sayin" !

[Just sayin']

Well aware of the rumored Quebec interest in Corus and I take offence that somehow you relegated this to 'racism.' How fo you know if I'm Quebecois...you don't.

[jon]

I follow Corus pretty closely but don't post here much as there is really nothing much definitive to report on the business side. On the other hand, the rise and fall of radio stations owned by Corus is covered in great detail.

But, to answer your question about the Quebecor deal that never happened: the banks that Corus owes money to did not want to "take a haircut", as they call it when Creditors agree to accept, for example, 60 cents for every dollar owed. They knew that is the only way that Quebecor would buy Corus, so they killed the deal, for now, by renegotiating their credit terms to allow Corus to continue without running out of Credit with them.

[Just sayin']

Thank you Jon. That's exactly what happened.

[freqfreak2]

I know that you folks are racists and don't like French people ?

Racism is what YOU bring to the table, my friend. In my near two decades here on this site, this is the first time I've seen that card being dealt.

Shame.

[Aaron]

- Quebecer is not a race
- the-real-deal needs a Snickers

[the-real-deal]

I follow Corus pretty closely but don't post here much as there is really nothing much definitive to report on the business side. On the other hand, the rise and fall of radio stations owned by Corus is covered in great detail.

But, to answer your question about the Quebecor deal that never happened: the banks that Corus owes money to did not want to "take a haircut", as they call it when Creditors agree to accept, for example, 60 cents for every dollar owed. They knew that is the only way that Quebecor would buy Corus, so they killed the deal, for now, by renegotiating their credit terms to allow Corus to continue without running out of Credit with them.

That was a credible and understandable explanation. Thanks for that, Jon. Paying .60 cents on every dollar owed is perhaps a fair offer, when you consider that publicly traded shares sell for just .11 cents a share while Corus Entertainment was reported as being profitable and making money during the previous two quarters of 2024.

But, the bank obviously has the final say over any credible offers that Corus receives.

I just hope that, moving forward, these types of media business stories affecting thousands of employees are more regularly reported on by this forum ?

The incessant whining and complaining of layoffs by forumites is one thing, but it appears that Corus has dug themselves into a very deep hole and let's face it, the future does not look good for them. I think that a fire sale of licences (similar to what Bell Media did earlier this year with their B.C. holdings) is probably the only route for them.

[the-real-deal]

I know that you folks are racists and don't like French people ?

Racism is what YOU bring to the table, my friend. In my near two decades here on this site, this is the first time I've seen that card being dealt.

Shame.

So, the problem is ME, then, since I'm to blame? LOL Well, ponder this: It's NOT shame, Mister Freak.....if it's true !

[Aaron]

I just hope that, moving forward, these types of media business stories affecting thousands of employees are more regularly reported on by this forum ?

Then do it yourself? You understand how user-generated content forums work, yes?

[the-real-deal]

I just hope that, moving forward, these types of media business stories affecting thousands of employees are more regularly reported on by this forum ?

Then do it yourself? You understand how user-generated content forums work, yes?

So, radiowest.ca forumites expect others to do their dirty work. Shame !

[crs]

No doubt he'll be thrilled at who's replacing him...

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