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Corus Entertainment ( ($TSE:CJR.B) ) has provided an update.
Corus Entertainment has mailed and filed materials for special meetings of its shareholders and senior noteholders to vote on a proposed recapitalization transaction designed to materially reduce debt, cut annual interest costs, and secure ongoing access to an expanded revolving credit facility. Backed by a substantial majority of both senior noteholders and key voting shareholders, the board unanimously supports the plan of arrangement under the Canada Business Corporations Act as the best available solution to stabilize the balance sheet, extend covenant relief, and preserve value for stakeholders, warning that failure to approve the deal could force alternative restructuring with little or no recovery for equity holders.
The most recent analyst rating on ($TSE:CJR.B) stock is a Sell with a C$0.03 price target. To see the full list of analyst forecasts on Corus Entertainment stock, see the TSE:CJR.B Stock Forecast page.
Spark’s Take on TSE:CJR.B Stock
According to Spark, TipRanks’ AI Analyst, TSE:CJR.B is a Underperform.
Corus Entertainment’s overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues, negative margins, and high leverage. Technical analysis indicates bearish momentum, while valuation metrics are unattractive due to negative earnings and lack of dividends. These factors collectively suggest significant risks for investors.
To see Spark’s full report on TSE:CJR.B stock, click here.
More about Corus Entertainment
Corus Entertainment Inc. is a Canadian media and entertainment company listed on the Toronto Stock Exchange, operating television and radio assets and related content businesses. The company generates revenue primarily from broadcasting and advertising and is navigating ongoing industry and regulatory challenges that have contributed to a significant debt burden and upcoming maturities on its credit facilities and senior notes.
Average Trading Volume: 528,510
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$6.98M
Find detailed analytics on CJR.B stock on TipRanks’ Stock Analysis page.