By The Canadian Press

Corus revenue slumps in first quarter as Blue Jays help drive TV ad dollars to Rogers

Jan 14, 2026 | 9:03 AM

TORONTO — The Toronto Blue Jays’ World Series run last fall spurred massive audiences for Rogers’ broadcasts, but rival Corus Entertainment Inc. says that meant it saw fewer ad dollars.

“Sports, particularly the Blue Jays playoff run in September and October, contributed to a temporary but significant shift in audience behaviour,” Corus chief executive John Gossling told analysts on the company’s latest earnings call.

“This impacted our specialty audiences in particular, as well as advertising buying patterns.”

Rogers has said the World Series averaged 7.5 million viewers across its platforms such as Sportsnet, Sportsnet+ and Citytv, with 23 million Canadians tuning in at some point.

And while the Jays were Canada’s team, it marked the latest challenge for Corus related to its long-slumping advertising revenue.

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For Corus, total revenue in its first quarter was $267.6 million, down 18.2 per cent from $327.2 million a year ago.

TV revenue amounted to $245.1 million, down 19.3 per cent from $303.6 million in its previous first quarter, while radio revenue was $22.5 million, down 4.5 per cent from $23.5 million.

Overall, the television and radio broadcaster reported a loss of $11.1 million in the quarter ended Nov. 30, compared with a profit of $11.9 million in the same quarter a year earlier.

Despite the loss, Gossling said the results were in line with the company’s expectations, noting “persistent market headwinds and industry conditions” continuing to hurt its advertising and subscriber revenue.

Gossling said Corus may be better positioned to improve its ad revenue in its second quarter, but noted it will still face challenges including the upcoming Winter Olympics, for which CBC owns broadcasting rights.

The timing of the event in February comes in the middle of Corus’ winter schedule, he said.

The company behind Global Television said its first-quarter loss amounted to six cents per diluted share compared with a profit of six cents per diluted share a year earlier. On an adjusted basis, Corus said it lost a penny per share in its latest quarter compared with an adjusted profit of 14 cents per share a year earlier.

Subscriber revenue was also down following the discontinuation of seven specialty channels by Corus since last year, declines in its linear business and ongoing disputes with certain distributors, the company said.

Losses were partially offset by Corus’ cost reduction plan, which saw it cut 16 per cent of general and administrative expenses in the quarter. That included a 10 per cent decrease in employee costs.

The results came as Corus works to complete a recapitalization deal first announced in November of last year that will see its debtholders take ownership of the company.

Under the agreement, $500 million of Corus’ senior notes would be exchanged for 99 per cent of the shares in the restructured company. Existing Corus shareholders are expected to swap their holdings for shares representing one per cent of the new company.

The recapitalization deal is expected to reduce Corus’ third-party indebtedness and other liabilities of over $500 million and see annual cash interest savings of up to $40 million.

Shareholders and holders of the company’s outstanding, unsecured, senior notes are expected to vote on the plan on Jan. 30.

Gossling urged them to vote in favour of the deal.

“It represents our best and most viable option to help Corus build a stronger future for all,” he said.

This report by The Canadian Press was first published Jan. 14, 2026.

Companies in this story: (TSX: CJR.B)

Sammy Hudes, The Canadian Press