I'm sure it will be named and not just be called newco.
What will they call the new corporation?
Will they have to move there hq?
Who will be ceo?

The company would still be known as Corus and this would have no bearing on HQ.

More attractive to prospective buyers without all that debt shackled to it.

Maybe a name like global communications after there flagship tv brand.

Radiowiz wrote:

RadioAaron wrote:

The company would still be known as Corus and this would have no bearing on HQ.

No. Corus is done. Time for something fresh and new. IF Corus knows what's good for them.
 

This wasn't an opinion.

If the thing is sold-off whole, the new owner might re-name it.

RadioActive wrote:

Could the end of Corus be a new beginning for its broadcast properties? An application before the CRTC requests transferring all of the company's current broadcast properties to a new parent called "NewCo."

From the Commission release:

"Under the proposed transaction, some of Corus’s lenders would forgive approximately $500 million in debt in exchange for 99% ownership of a newly created parent corporation (NewCo), which would wholly own Corus and its services. Corus asserted that effective control would be exercised by the board of directors of NewCo. Corus indicated that NewCo shares would be listed on the Toronto Stock Exchange following the close of the transaction."

"Corus operates a portfolio of programming services across Canada. Its holdings include Global News, 36 radio stations, 25 discretionary services and 15 conventional television stations.

The CRTC is now seeking interventions and comments on the proposal, which could be the only way to save the struggling company and its assets. Interested parties have until June 25th to submit their opinions on the takeover. 

It sure will be weird to hear the top of the hour I.D. on AM640 say "CFIQ - a NewCo station." But it could well be coming. 

CRTC Release

NewCo is a temporary placeholder name that is used in the business world whenever a business undergoes a reorganization, or a merger or spinoff. 
In the case of the Corus restructuring, the "new owners" are the Corus debt holders who are getting most of the new Corus stock in exchange for retiring some of the Corus debt they hold, leaving the existing shareholders, even the Shaws, with shares that are nearly worthless from dilution. The eventual name of the new company could be a variation on the Corus name, or something else.
Doubt there is a white knight out there willing to buy the whole company from these new owners when they had never bothered to do so earlier. 
Even with the restructuring, the company will still have $500 million in debt that any white knight purchaser would need to take on.
The best-case scenario for the debt holders is that the company keeps operating as is and throws off a little profit to keep up with the interest payments on the debt.