Corus' current logo from April 1, 2016 onwards
Corus headquarters in Toronto as seen from CN Tower
Western International Communications
Toronto, Ontario, Canada
|Revenue||$833 million CAD (2014)|
Number of employees
Corus Entertainment Inc. (stylized as corus.) is a Canadian media and broadcasting company. Formed in 1999 as a spin-off from Shaw Communications, it is headquartered at Corus Quay in Toronto, Ontario, and has prominent holdings in the radio, publishing, and television industries. Corus Entertainment's voting majority is held by the company's founder JR Shaw and his family, and a 39% stake of Corus stock is owned by Shaw Communications.
Corus has a large presence in Canadian broadcasting, as owner of the national Global Television Network, 39 radio stations, and a portfolio of 45 specialty television services. Corus is especially prominent within the children's television market, through its ownership of the domestic YTV, Treehouse TV and Teletoon/Télétoon networks, localized versions of the Cartoon Network, Disney Channel, Disney Junior, Disney XD, and Nickelodeon brands, along with the animation studio Nelvana and book publisher Kids Can Press.
The second incarnation of Shaw's media division—formed from the properties of the defunct Canwest Global—was spun into Corus on April 1, 2016, giving it control of the over-the-air Global network, and 19 additional specialty channels.
- 1 History
- 2 Corporate governance
- 3 Sponsorships and industry partnerships
- 4 Relationship with Shaw Communications
- 5 See also
- 6 References
- 7 External links
In September 1998, JR Shaw and Shaw Media CEO John Cassaday announced plans for Shaw Communications to spin-out its media properties, including radio stations and television specialty channels, into a new company. The spin-out would leave Shaw as a "pure play" telecommunications company. The decision to spin out the properties, into what would be known as Corus Entertainment, was meant to comply with Canadian Radio-television and Telecommunications Commission (CRTC) recommendations at the time which discouraged vertical integration by cable companies who also owned media properties. Corus would be a separate, publicly-traded company, first listed on the Toronto Stock Exchange in September 1999, but would still be primarily controlled by the Shaw family.
In September 1999, Corus acquired the broadcasting assets of the Power Corporation of Canada, which included four television stations and sixteen radio stations. In October 1999, it was announced that as part of the break-up of Western International Communications (WIC), Corus would acquire the company's 12 radio stations and most of its specialty channels, including stakes in Family Channel, SuperChannel and MovieMax!.
In September 2000, after negotiations and rumoured offers by other studios, Corus announced that it would acquire the Toronto-based animation studio Nelvana for $540 million; the deal was considered to be a compliment to its children's television networks, including YTV and Treehouse TV, and its stakes in Family and Teletoon—networks which had already licensed Nelvana programs in the past. Corus also stated that it planned to use the purchase to help launch a preschool-oriented cable network in the United States.
In March 2001, in response to complaints by the CRTC over its near-monopoly on ownership of children's specialty channels in Canada, Corus sold its stake in Family Channel to Astral Media for $126.9 million. Corus also sold its stake in Western Canada pay-per-view service Viewers Choice to Shaw for $22.6 million, and acquired the Women's Television Network (WTN) from Shaw for $132.6 million. Shaw had acquired WTN's parent company, Moffat Communications, in order to gain control of the company's cablesystem assets. In August 2002, Corus sold CKDO and CKGE-FM to Durham Radio.
In March 2004, Corus and Astral announced that it would acquire and swap radio stations in Quebec; Corus acquired the Radiomédia network (including CKAC) and Quebec City's CFOM, while Astral acquired CFVM-FM Amqui, CJOI-FM and CIKI-FM Rimouski, CFZZ-FM Saint-Jean-sur-Richelieu, and CJDM-FM Drummondville. Corus also sold its Red Deer, Alberta stations CKGY-FM and CIZZ-FM to Newcap Radio.
Additional partnerships, Corus Québec sale
Also in August 2007, Corus announced a partnership with Hearst Corporation to launch Cosmopolitan TV. In March 2008, CTVglobemedia sold Canadian Learning Television to Corus for $73 million Corus launched a Canadian version of Nickelodeon on November 2, 2009, replacing Discovery Kids. In 2010, Corus's sister company Shaw Communications re-entered the broadcasting industry through its acquisition of the media assets of the bankrupt Canwest, which re-formed the Shaw Media division.
On April 30, 2010, Corus announced that it would sell its Québec radio stations, with the exception of CKRS, to Cogeco for $80 million, pending CRTC approval. Corus cited their low profitability in comparison to their stations elsewhere as reasoning for the sale. On June 25, it was reported that Corus had agreed to sell CKRS to Radio Saguenay, a local business group. The sale of the Corus Québec stations was approved by the CRTC on December 17, 2010, on the condition that Cogeco-owned CJEC-FM and Corus-owned CFEL-FM and CKOY-FM be sold to another party by December 2011. On January 13, 2011, competing broadcaster Astral Media announced that they would seek legal action to stop the sale of these stations to Cogeco, citing the fact that it would own more stations than Astral in the Montreal market, making the competition unfair.
On November 9, 2010, Hasbro Studios signed an agreement with Corus to broadcast their productions on its networks. On March 26, 2012, Corus and Shaw launched ABC Spark, a localized version of US cable network ABC Family, with Shaw owning 49%.
Re-organization, Disney deal
In March 2013, as part of Bell Media's proposed acquisition of Astral Media, Corus reached a tentative deal to acquire Astral's stakes in Historia, Séries+, and the Teletoon networks, along with several radio stations, for $400.6 million. This aspect of the deal, intended to quell concerns from the CRTC regarding Bell's total market share after the merger, was approved by the Competition Bureau on March 18, 2013. In an unrelated deal, Corus also announced that it would acquire Shaw Media's stakes in ABC Spark, Historia, and Séries+ in exchange for cash and its minority stake in Food Network Canada. Corus indicated that these purchases were meant to help the company expand its television holdings in the competitive Quebec market. Corus also planned to open a new office in Montreal following the sale.
On September 1, 2013, Corus reorganized into six divisions, Corus Radio, Corus Kids, Corus Women and Family, Corus Content Distribution and Pay TV, Corus Airtime Sales and Corus Média. Corus was, in turn, divided into three groups, the Teletoon Canada group (Teletoon, Teletoon Retro, and Cartoon Network Canada), kids' specialty services (Nelvana, Nickelodeon Canada, YTV, Treehouse TV, Disney Channel Canada, Disney Jr. Canada, Disney XD Canada, and Nick Jr. Canada), and specialties (the remainder of the company). Corus Média holds the French language channels.
On April 16, 2015, Corus Entertainment announced that it had reached an agreement with the Disney–ABC Television Group to acquire long-term, Canadian multi-platform rights to Disney Channel's programming library. Alongside the licensing deal, Corus announced that it would officially launch a Canadian version of Disney Channel on September 1, 2015. A French version, Disney La Chaîne, was also launched.
Acquisition of Shaw Media, wind-down of Movie Central
On November 20, 2015, Corus announced that it would exit the premium television industry to focus on its national specialty services. As a result, Corus will sell its rights to operate a premium television service in Western Canada to Bell Media for $211 million, resulting in the planned discontinuations of Movie Central and Encore Avenue in 2016, the expansion of The Movie Network into a national service, and Bell becoming the sole rightsholder of HBO programming in Canada.
On January 13, 2016, Corus announced that it would "acquire" Shaw Media for $2.65 billion; the company consisted of the assets of the former Canwest, including the over-the-air Global Television Network and other specialty channels. The purchase, which was primarily used to fund Shaw Communications' purchase of wireless carrier Wind Mobile, was paid with $1.85 billion in cash, and Shaw took a 39% share of Corus stock. Corus CEO Doug Murphy described the transaction as being a "transformational acquisition that redefines Corus and Canada's media landscape".
The deal was approved by the CRTC on March 23, 2016. The CRTC considered the transaction to be a reorganization of the assets of JR Shaw rather than an outright acquisition, because Corus and Shaw share effective control via Shaw and his family. This exempted Corus from the CRTC tangible benefits policy and scrutiny surrounding concentration of media ownership, as the CRTC already regarded Corus and Shaw as being a single entity for regulatory purposes. The reorganization was completed on April 1, 2016. At the same time, multiple Shaw Media executives joined the company, including its former CEO Barbara Williams (who became the new executive VP and Chief Operations Officer (COO) of Corus Entertainment), and the company adopted a new logo.
Sponsorships and industry partnerships
Corus is an industry sponsor of the University of Waterloo Stratford Campus; Gary Maavara, Corus' General Counsel, sits on the Waterloo campus' advisory board. The company also funds a couple of endowed chair positions, including Chair in Women in Management at the Ivey Business School (London, Ontario, Canada) beginning in 2003, and a Chair in Communications Strategy at the Rotman School of Management (Toronto) beginning in 2002.
Relationship with Shaw Communications
Corus Entertainment was formed from media assets that had been owned by Shaw Communications. Shaw and Corus are independent, publicly traded companies, but nonetheless, some reports indicate that the two companies continued to have a close relationship. For several years, Corus managed advertising operations (such as TV listings channels) for Shaw's cable systems, although this operation has since been discontinued. Executives have also occasionally moved between the two companies, with former Corus Television president Paul Robertson joining Shaw to head Shaw Media (the former Canwest broadcasting operations) in 2010.
Following Shaw's 2010 acquisition of Canwest's TV assets, the two companies incidentally became partners in certain channels including Dusk (later replaced by ABC Spark) and Food Network Canada; these partnerships were unwound in 2013. Otherwise, there was no connection or common programming between Corus's conventional and specialty television operations and those of Shaw Media. For example, Corus owns three over-the-air TV stations which were longtime CBC affiliates, and which agreed in 2015 to switch to Bell Media's CTV network, despite Shaw owning the rival Global network at the time.
As the two companies are both effectively controlled by JR Shaw, the CRTC considers Corus Entertainment and Shaw Communications to be a single entity in regards to certain policies,  such as the "Diversity of Voices" policy and a vertical integration rule requiring television providers to carry three channels owned by unaffiliated parties for each co-owned channel they offer: due to the effective control, Corus networks carried by Shaw television services are subject to this rule. Additionally, the CRTC considered Corus's "acquisition" of Shaw Media to be a corporate reorganization of JR Shaw's assets, and not an outright purchase.
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