The Globe and Mail reports in its Saturday edition that critics say Corus Entertainment's new owners must invest in differentiated content to improve its financial situation, despite relief from Canada's broadcasting regulator.
A Canadian Press dispatch to The Globe reports that Corus's recapitalization plan was approved by the Canadian Radio-television and Telecommunications Commission on Thursday, allowing for a change in ownership and control of all licensed programming services.
Corus told the CRTC that the proposed deal is essential for reducing its debt and enhancing financial stability to continue operations. The transaction is expected to close in the coming weeks.
But with the lifeline, Corus must avoid "simply repeating what has got them into trouble in the past," said Jeffrey Dvorkin, former director of the University of Toronto's journalism program.
He said much of Corus's content didn't stand out as unique to audiences and advertisers.
"The challenge is to have a management culture that is prepared to take some risks," said Mr. Dvorkin, adding there had been hesitancy at Corus to produce content "that is a little bit off the beaten track." Corus said its business is expected to continue as normal.
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