RadioActive wrote:

And some of the names on the new board of directors are familiar - including Maryanne Turcke, the former president of Bell Media. She's been named the new chair of Corus' board.

She later left Bell to become the COO of the NFL and was involved in some controversy when she chastised Canadians for using VPNs to watch the U.S. version of Netflix - while later admitting her own daughter did the exact same thing. 

Broadcast Dialogue reveals who else now controls Corus' fate. 

They could save a few bucks and just use a voice track of Maryanne Turcke.

What's a new board of directors going to do with this lost cause, while getting paid a load of money Corus doesn't have?

As of this posting, the price is now down to 98 cents.

DX wrote:

To put it all in perspective, the price of the old Corus shares had fallen to 3 cents per share at the time they were delisted (and many of those owners had probably paid dozens if not hundreds or thousands of times more for their shares at the time they bought in). Those shareholders were issued one share of Corus Entertainment Holdings (renamed from the placeholder name of NuCorp) (ticker symbol CORS) for 500 of the old shares, implying a value of $15 for each of the new company's shares, but they promptly tumbled this week after the recapitalization was finalized. However under the dilution plan, the old company shareholders only hold 1 per cent of the new company and the bond holders own the other 99 per cent or so. Remarkably the new company shares have rebounded today all the way from the 98 cents of yesterday to around $1.11. That implies a market cap value of $41 million or so for the new Corus, with the remaining original Corus shareholders combined holding a value of shares that in total are less than the average value of a home of a SOWNY board member who owns their own home. Some board members have inside insight or hope that there is a white knight or two who have patiently sat on the sidelines all this time and will now suddenly swoop in to buy some assets. If not, the best-case scenario for the bond holders is for Corus to continue operating as usual and try to throw off enough cash to keep up the interest payments on the remaining Corus debt.

I do not have a crystal ball as to what the future holds for the company, but I was told by someone I know who works at Corus Quay that they have been told there will not be any significant changes, however they will be hiring to fill some positions that were eliminated, and they will be trying to right this ship. The new Corus has confidence apparently in the company and they believe they can get this company back to the great days when they used to make money and put out a good product on air. So lets see what happens. I figure the company will get split up and sold before to long. Maybe less than a year but that's my guess.