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Corus Entertainment Inc. T.CJR.B

Alternate Symbol(s):  CJREF

Corus Entertainment Inc. is a Canada-based diversified, integrated media and content company that develops and delivers brands and content across platforms. The Company operates in two segments: Television and Radio. The Television segment is comprised of over 33 television networks, approximately 15 conventional television stations, digital media assets, a social digital agency, a social media creator network, technology and media services, and content business, which includes the production and distribution of films and television programs, merchandise licensing, and book publishing. The Radio segment is comprised of around 39 radio stations situated primarily in high-growth urban centres in English Canada, with a concentration in the densely populated area of Southern Ontario. The Company's primary method of distribution is over-the-air, analogue radio transmission, with additional delivery platforms including HD radio, websites, mobile applications and podcasts.


TSX:CJR.B - Post by User

Post by Griz_Onlineon Feb 18, 2023 2:00am
514 Views
Post# 35293368

Debt Covenants amended

Debt Covenants amendedLooks like there is a concern that they are going to blow through previous covenants

Guess the rebound in ad revenues not as robust.

Beware the value trap frens.



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 (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 November 30, 2023. The Amendment also includes a financial covenant which, in the event that the Total Debt to Cash Flow Ratio exceeds a certain level, may restrict Distributions. All terms are defined in the Credit Facility
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