Quebecor files application to block proposed debt restructuring at Corus

▤ Summary

Quebecor is trying to stop Corus Entertainment’s proposed debt restructuring and keep the broadcaster from ending up with its creditors. The company is using the CRTC process to push for a takeover instead, after failing to reach a deal with Corus lenders. Corus plans a $500-million debt-for-equity swap that would transfer control to a creditor group led by Canso Investment Counsel. The fight matters because Quebecor says a strong media owner could preserve Canadian content and limit Bell Media’s dominance.

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