Things are improving despite the headwinds Long term debt decreased to ($1,078,950,000) as at August 31, 2023 from $1,246,076 as at August 31, 2022.
Components of the long term debt calculation:
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Senior unsecured notes : unchanged at $750,000,000
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Bank loans : decreased to ($337,295,000 ) in 2023 from ($505,577,000) in 2022
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Interim production financing : $13,434,000 (2023) vs $15,574,000 (2022)
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Unamortized financing fees and prepayment options : $8,345,000 vs $9,501,000
Since 2018 Corus paid over 1.3 BILLION dollars in dividends and debt repayments.. Corus acquired Shaw Media for $2.65 billion back in 2016. The debt is now down to ~ $1 billion. When the doom and gloom cycle ends Corus will have three levers in its favour: less debt/less interest payments, less shares available as they will resume their buybacks which will translate into more cash flow especially when the general sentiment improves. Within less than 5 years the company will be almost debt free and potentially with 50% less shares floating around in case of a substantial issuer bid. Just Imagine the possibilities and the expansion of their content offerings and international distribution and merchandising. Corus is not about just radio and TV, they own multiple production and marketing companies as well as studios with solid partnerships with the biggest Media giants.