TORONTO, Oct. 27,
2023 /PRNewswire/ - Corus
Entertainment Inc. ("Corus" or the
"Company") (TSX: CJR.B) announced today that it has
completed an agreement to amend (the "Amendment") its Sixth Amended
and Restated Credit Agreement with its bank group, led by RBC
Capital Markets and TD Securities, dated March 18, 2022 as amended February 17, 2023 (the "Credit Facility").
Pursuant to the Amendment, the maximum Total Debt to Cash Flow
Ratio required under the financial covenants is increased through
and including August 31, 2024,
mandatory quarterly repayments of the Term Facility are
re-introduced, certain conditions related to the use of proceeds on
asset disposals are changed and additional restrictions on
Distributions are introduced. All terms are defined in the Credit
Facility.
A copy of the Amendment to the Credit Facility will be filed
under the Company's profile on SEDAR+ at www.sedarplus.ca.
About Corus Entertainment Inc.
Corus Entertainment Inc. (TSX: CJR.B) is a leading media and
content company that develops and delivers high quality brands and
content across platforms for audiences around the world. Engaging
audiences since 1999, the company's portfolio of multimedia
offerings encompass 33 specialty television
services, 39 radio stations, 15 conventional television stations,
digital and streaming services, and technology and media
services. Corus is
an internationally-renowned content creator and
distributor through Nelvana, a world
class animation studio expert in all formats and Corus
Studios, a globally recognized producer of hit scripted and
unscripted content. The company also owns full-service social
digital agency so.da, lifestyle entertainment company Kin
Canada and children's book publishing house, Kids Can
Press. Corus' roster of premium brands includes Global
Television, W Network, HGTV Canada, Food Network Canada, Magnolia
Network Canada, The HISTORY® Channel, Showcase, Adult
Swim, National Geographic, Disney Channel Canada, YTV, Global
News, Globalnews.ca, Q107, Country 105, and CFOX, along with
streaming platforms STACKTV, TELETOON+, the Global TV App and
Curiouscast. Corus is the domestic advertising representative and
an original content partner for Pluto TV, a Paramount Company,
which is the leading free ad-supported streaming television (FAST)
service. For more information visit www.corusent.com.
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SOURCE Corus Entertainment Inc (IR Group)