Corus Entertainment Bondholders to Take Control in Debt-for-Equity Swap
Corus Entertainment, a Canadian broadcaster, is nearing a restructuring plan that will transfer control of the company to its bondholders through a debt-for-equity swap. The move comes as the company faces financial difficulties. Under the proposed plan, bondholders will exchange their existing debt for a majority stake in Corus Entertainment, effectively taking control of the company. This restructuring is aimed at addressing the company's mounting debt and ensuring its long-term stability. The details of the plan are still being finalized, but it represents a significant shift in the ownership and governance of Corus Entertainment as it navigates through its current challenges. The article does not provide specific financial figures or timelines for the restructuring process.
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