Corus Entertainment Inc. completed a court-approved recapitalization on October 8, 2026, under a plan of arrangement under section 192 of the Canada Business Corporations Act. Corus Entertainment Inc. is now a wholly-owned subsidiary of a new parent, Corus Entertainment Holdings Inc. Of the $750 million in senior unsecured notes, $500 million was exchanged for shares representing 99 percent of the new parent, and $250 million for second lien secured notes. The roughly $301 million term loan was replaced with $300 million of first lien secured notes, and the revolving facility was increased to $125 million. Existing shareholders receive 1 percent of the new parent, and first lien noteholders receive warrants for 10 percent of fully diluted equity. Corus says the transaction cuts third-party debt and other liabilities by more than $500 million and annual cash interest by up to $40 million. It was announced November 3, 2025. The Class B vote fell short of the two-thirds threshold on January 30, 2026, and the Ontario Superior Court of Justice (Commercial List) granted a final order on March 24, 2026. The closing release names a five-member board chaired by Maryann Turcke. The new shares are expected to trade on the TSX under “CORS” from October 13, 2026. Osler, Hoskin & Harcourt LLP acted for Corus, Bennett Jones LLP for the ad hoc noteholder group, and Thornton Grout Finnigan LLP for the credit facility lenders.