The broadcaster asked the regulator to 'urgently' make the changes last October, saying they would provide 'much needed flexibility''amid programming and advertising uncertainty.
The Corus logo at Corus Quay in Toronto is photographed on Friday, June 22, 2018. Corus Entertainment Inc. reported its first-quarter profit fell compared with a year ago as its revenue also moved lower.Inc.’s request to ease some of its Canadian content spending requirements after the company warned of an increasingly dire financial situation.
It added the risk of Corus exiting the Canadian broadcasting landscape “would greatly reduce the options Canadian viewers have for content,” calling Corus a vital source of news through its Global Television Network, along with being the largest provider of independent programming in Canada.Last fall, Corus president and CEO Doug Murphy said the company was hit hard by advertising revenue declines during strikes by the Writer’s Guild of America and the Screen Actors Guild in the U.S.
Under rules set by the CRTC, Corus has been able to underspend on Canadian programming in a given year by up to 10 per cent of the minimum requirements as long as it makes up the difference the following year. But that clause didn’t apply to final year of its licence term, which will expire August 2026.
In a letter attached to the decision, which was addressed to executives from Corus, Rogers, Bell Canada, Quebecor Inc. and other stakeholders, the commission said it “acknowledges that the broadcasting landscape has changed significantly in recent years and that broadcasters are facing additional pressures to meet their respective obligations.
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