They have been trying to sell stations for quite a while but as we found out with the bell sales, the valuation Corus has on there stations is very high. I heard they were trying to sell 3 stations in Ontario for over 18 million total. So I assume they will either die a slow painful death or they will get rid of stations ASAP. 
On another note they registered 1073edge.com a couple weeks ago, and that is most likely the music formatted station to replace the talk on FM disaster in Calgary. My assumption is they are going to have zero local hosts and try to compete with X92.9 Calgary. That may end up as a small lifeline for a short while but will it turn the fortunes of the entire company around? Probably not. I expect the bankruptcy to happen in the next 2-3 months, unless they get stations sold. 
Also of note with regards to the shutdown of the two AM stations out west, word is that they are finally going to move CKNW from 980 down to 730 and shut down 980. It is a stronger signal on 730 so it makes sense. 
I still don't see these moves as a way to save the company, so what stations would people here sell or flip? How can Corus make things better?

Bankruptcy doesn't mean stations necessarily go kaput, nor does it mean the whole think gets sold. In the US, both iHeart and Audacy have gone through bankruptcy.

RadioAaron wrote:

Bankruptcy doesn't mean stations necessarily go kaput, nor does it mean the whole think gets sold. In the US, both iHeart and Audacy have gone through bankruptcy.

That’s true. Global TV stayed in operation when Canwest went under bankruptcy and was eventually sold off to Shaw.

Here's the article.

Shorty Wave wrote:

I can’t help but feel that Shaw has something to do with this as well

They sure did. The severed their directly owned media assets and bundled them all into a broadcasting-only entity (CORUS) that never stood a chance. They did this so that a) The media properties didn't drag down the main business and b) The main business could then be cleanly sold to Rogers. That left Rogers in a superior position to then turn around and grab some of CORUS' key media assets.
 

Shorty Wave wrote:

RadioAaron wrote:

Shorty Wave wrote:

I can’t help but feel that Shaw has something to do with this as well

They sure did. The severed their directly owned media assets and bundled them all into a broadcasting-only entity (CORUS) that never stood a chance. They did this so that a) The media properties didn't drag down the main business and b) The main business could then be cleanly sold to Rogers. That left Rogers in a superior position to then turn around and grab some of CORUS' key media assets.
 

Makes sense. I still think the CRTC shouldn’t have approved that deal, but they have no spine. I still think Rogers is sketchy, they don’t create anything, just buy what others worked hard to establish. How’s that NHL deal working for you? can’t be great since Rogers has never posted ROI info.

On Monday night, I happened to tune into Ben O'Hara-Byrne's show on 640, which also airs on Corus stations across the country. He had on a guy named John Lawford from the Public Interest Advocacy Centre, who complained that the CRTC released a preliminary report on the Rogers outage from two years ago this week, but left out a ton of specific details about what really happened the day millions lost service for more than 48 hours.

And he accused the Commission of essentially covering for Big Red and demanded that the full report be released so we can see what really happened and what's not being said. It also wasn't lost on him that the results were put out very quietly in a classic Friday afternoon news dump in the middle of summer.

The implication: the CRTC is either running scared of or is covering for Rogers because the truth might be too embarrassing for such a large telecommunications giant. 

You can hear the interview at the 15:49 mark here. 

So if you believe him, the idea that the CRTC rubber-stamped the Shaw deal isn't much of a stretch.