FAQs & Cautionary Statement
This document contains forward-looking information and should be read subject to the following cautionary language.
To the extent any statements made in this document, or any of the documents referenced herein, contain information that is not historical, these statements are forward-looking statements and may be forward-looking information within the meaning of applicable securities laws (collectively, “forward-looking information”). This forward-looking information relates to, among other things, the objectives, goals, strategies, targets, intentions, plans, estimates, and outlooks of Corus Entertainment Inc., Corus Entertainment Holdings Inc, and their respective subsidiaries (collectively, “Corus” or the “Company”), including, but not limited to, its: strategic, operational and business plans; anticipated revenue, cost, and subscription trends; applicable regulatory, judicial, and legislative changes, decisions, and regimes; expectations regarding financial and operational performance; expectations regarding costs, tariffs, taxes, and fees; capital, balance sheet management, and liability management plans, strategies, and actions and benefits thereof; ability to repay debt and/or maintain necessary access to loan and credit facilities; and the Company’s recapitalization transaction completed on October 8, 2026 (the “Recapitalization Transaction”) and the implementation and effects thereof.
Forward-looking information can generally be identified by the use of words such as “estimate”, “forecast”, “project”, “believe”, “anticipate”, “expect”, “intend”, “plan”, “will”, “may”, or the negatives of these terms and other similar expressions. In addition, any statements that refer to expectations, anticipated outcomes or impacts, projections, or other characterizations of future events or circumstances may be considered forward-looking information.
Although Corus believes that the expectations reflected in such forward-looking information are reasonable, such information involves many material assumptions, risks, and uncertainties and undue reliance should not be placed on such statements. Certain material factors and assumptions, which are subject to uncertainty, risk, and change and may cause actual results to differ materially from expectations, calculations, plans, and forecasts, are applied with respect to forward-looking information. Such factors and assumptions include, without limitation, those relating to or impacting: the sustainability of Corus’ capital and debt structure; Corus’ ability to maintain access to and meet covenants under relevant secured and unsecured credit facilities and instruments; Corus’ ability to access sufficient capital and liquidity; macroeconomic, geopolitical, and general business and market conditions; Corus’ ability to execute its strategies and plans; financial and operating results being consistent with expectations; Corus’ ability to attract, retain, and manage fluctuations in revenue; continuity of relationships and arrangements with, and revenue and costs attributed to, suppliers, distributors, partners, clients, and customers on desirable and expected terms; stability of advertising, subscription, production, and distribution markets and revenue; changes to key suppliers and clients; impacts of pending and threatened litigation, regulatory and judicial decisions and interpretations, and appeals thereof; changes in laws and regulations and the interpretation and application thereof, including statements, decisions, and positions by applicable courts and regulators, including, without limitation, the Canadian Radio-television and Telecommunications Commission; changes to licensing status and conditions; impacts of competition from foreign and domestic competitors, including due to industry mergers and acquisitions and such competitors not being regulated in the same way or to the same degree; strategic opportunities and partnerships (or lack thereof) that may be presented to, pursued, or implemented by the Company; changes to applicable accounting standards and tax, licensing, and regulatory regimes; changes to operating and capital costs and imposed and threatened tariffs, taxes, and fees; impacts of interest rates and inflation; Corus’ ability to source, produce, and sell desirable content; unanticipated and un-mitigatable changes to programming costs; retention and reputation risks related to employees and contractors; physical and operational changes to facilities and infrastructure; industry and Company-related labour actions; cybersecurity threats and incidents to Corus or its key suppliers and vendors; and epidemics, pandemics, and other public health and safety crises. These factors also include factors and assumptions relating to anticipated and expected effects and impacts of the Recapitalization Transaction on the Company and its stakeholders. Actual results may differ materially from those expressed or implied in such information and the foregoing list is not exhaustive.
Additional information about these factors and the material assumptions underlying any forward-looking information may be found under the heading “Risks and Uncertainties” in the Management’s Discussion and Analysis (“MD&A”) of Corus Entertainment Inc. for the year ended August 31, 2025, as may be updated, supplemented, or amended from time to time, including by quarterly MD&A, press releases, or other subsequent disclosure of Corus Entertainment Inc. or of Corus Entertainment Holdings Inc., any and all of which will be made available on SEDAR+ at www.sedarplus.ca. The Company cautions that the foregoing list of important assumptions and factors that may affect future results is not exhaustive.
When relying on the Company’s forward-looking information to make decisions with respect to Corus, investors and others should carefully consider the foregoing information, including as incorporated by reference, and any other uncertainties and potential events. Unless otherwise specified, all forward-looking information in this document speaks as of the date of this document and may be updated or amended from time to time. Except as otherwise required by applicable securities laws, the Company disclaims any intention or obligation to publicly update or revise any forward-looking information whether as a result of new information, events, or circumstances that may be made or arise from time to time.
The terms of the Plan of Arrangement were set out in the January 2, 2026 Management Information Circular (“Circular”), which was distributed to existing securityholders before the Special Meetings held January 30, 2026 and is available on SEDAR+ here and Corus’ website here.
As contemplated in the Plan of Arrangement, the new parent Company, CEHI, has appointed a new independent Board of Directors, with all prior board members of Corus stepping down upon closing.
The former Corus Class B Non-Voting Shares, traded under the ticker “CJRB,” are expected to be delisted from the Toronto Stock Exchange at the close of trading on October 9, 2026. The new CEHI Common Voting Shares and Variable Voting Shares are expected to begin trading on the Toronto Stock Exchange under the ticker “CORS” at market open on October 13, 2026.
Following a thorough strategic review process — including evaluation of all available transaction alternatives — the Corus Board of Directors concluded that the Recapitalization Transaction was the best viable option for Corus and its stakeholders. The new capital structure positions Corus to pursue new opportunities and future growth, while strengthening its leadership in Canada through trusted news and entertainment Canadians love.
It is business as usual.
In fact, we are excited about continuing to acquire, produce and deliver the amazing content that Canadians know and love across our platforms, and building on our important relationships with clients, suppliers and partners for the future.
A new independent Board of Directors of CEHI was appointed at the completion of the Plan of Arrangement. More information on the new directors is available in the press release distributed October 8, 2026 available here.
John Gossling continues as Chief Executive Officer and (Interim) Chief Financial Officer of CEHI and has also been appointed to the new Board of Directors, ensuring continuity of senior leadership through and beyond the closing of the Recapitalization Transaction. No other changes to senior management were made in connection with the closing of the Plan of Arrangement.
Corus continues to have access to a secured credit facility that gives us access to an increased “revolving” facility (increased to $155 million from $125 million on October 1, 2026). Pursuant to the Plan of Arrangement, Corus’ secured term loan facility of approximately $301 million was settled and exchanged for a cash payment and $300 million of Senior Secured First Lien Notes.
Details are set out in the January 2, 2026 Circular, which was provided to existing securityholders in connection with the Special Meetings held January 30, 2026 and is available on SEDAR+ here and Corus’ website here.
Yes. CEHI Common Voting Shares and Variable Voting Shares are anticipated to begin trading on the Toronto Stock Exchange at market open on October 13, 2026, under the stock ticker “CORS.”
No, the Recapitalization Transaction will not impact viewers or listeners.
