Corus Entertainment Inc. (TSX: CJR.B) (“Corus” or “the Company”) is providing an update today that it has been informed by Warner Bros. Discovery, Inc. that some of its programming and trademark output arrangements will not be renewed upon their expiry on December 31, 2024. This affects content on certain Corus-operated specialty channels. Corus does not currently expect changes to the programming of the channels until 2025.
“I want to reinforce Corus’ intent to continue operating the country’s largest and most widely distributed lifestyle channels based on the strength of top-rated Canadian programs and alternate foreign content supply,” said Troy Reeb, EVP, Networks and Content of Corus. “We have an exceptional fall schedule coming in September and a vast amount of Canadian and U.S. content to carry us into the future.”
“This is an unfortunate example of inequitable structural relationships in the Canadian media and telecom industries, particularly affecting independent broadcasters like Corus,” added Doug Murphy, President and Chief Executive Officer of Corus. “It highlights the urgent need for regulatory reform, including to rules affecting how market-dominant players interact with suppliers and competitors. Corus intends to explore all potential remedies. We look forward to adapting and advancing our strategies while we pursue new opportunities through our other content suppliers.”
Corus is Canada’s largest independent media company, delivering diverse entertainment options and award-winning news across its 15 Global television stations, 33 specialty channels, 39 radio stations, and streaming services including STACKTV and the Global TV app.
