- Corus Entertainment stock (TSX:CJR.B) has had a rough time lately, but after announcing layoffs across Canada, its stock rose more than 14 per cent on Friday morning
- Corus is shutting down local news production in Calgary and Edmonton to transfer this work to its central Toronto hub
- Its stock plummeted in Nov. 2025 after announcing that its revenue decreased 14 per cent in Q4 and 11 per cent for the year
- Corus Entertainment stock (TSX:CJR.B) closed trading at $0.04
Corus Entertainment (TSX:CJR.B) saw a rare boost in its share price on Friday morning after announcing layoffs across Canadian markets, including at Global News and Corus Radio.
The media broadcaster’s stock was up more than 14 per cent in Friday trading and was the second highest gaining stock by percentage for the day.
The Western Standard first reported that Corus, the parent company of Global TV, is preparing to shut down news production in Calgary and Edmonton and transfer the work to Toronto. A union representative said 43 jobs will be cut, a similar number to what the company cut last year.
This article is a journalistic opinion piece that has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
Corus stock never recovered after a major drop in its share price after its Q4 and full-year 2025 financial report admitted that consolidated revenue decreased 14 per cent for the quarter and 11 per cent for the year. This meant a net loss attributable to shareholders of C$277.1 million (C$1.39 loss per share basic) for the quarter and C$328.4 million (C$1.65 loss per share basic) for the year.
This follows news that hundreds of staff were laid off from Rogers (TSX:RCI.A) stations across Canada, including the shutdown of stations such as News 1130 and Sportsnet 650 in Vancouver. This happened days after signing an agreement to buy 100 per cent ownership stake in Maple Leaf Sports & Entertainment, what a coincidence. The excuse was the same as what Corus gave – declining ad revenue.
Corus Entertainment Inc. is a media and content company that operates specialty and conventional television networks and radio stations in Canada and internationally.
Corus Entertainment stock (TSX:CJR.B) closed trading at $0.04 and has lost around 60 per cent since this time last year.
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