TORONTO, Feb. 17,
2023 /CNW/ - Corus
Entertainment Inc. ("Corus" or the
"Company") (TSX: CJR.B) announced today that it has
completed an agreement to amend (the "Amendment") its Sixth Amended
and Restated Credit Agreement with its bank group, led by RBC
Capital Markets and TD Securities, dated March 18, 2022 (the "Credit Facility"). Pursuant
to the Amendment, the maximum Total Debt to Cash Flow Ratio
required under the financial covenants is increased through and
including November 30, 2023. The
Amendment also includes a financial covenant which, in the event
that the Total Debt to Cash Flow Ratio exceeds a certain level, may
restrict Distributions. All terms are defined in the Credit
Facility.
A copy of the Amendment to the Credit Facility will be filed
under the Company's profile on SEDAR at www.sedar.com.
About Corus Entertainment
Inc.
Corus Entertainment Inc. (TSX: CJR.B) is a leading media and
content company that develops and delivers high quality brands and
content across platforms for audiences around the world. Engaging
audiences since 1999, the company's portfolio of multimedia
offerings encompass 33 specialty television
services, 39 radio stations, 15 conventional television stations,
digital and streaming services, animation software, technology and
media services. Corus is
an internationally-renowned content creator and
distributor through Nelvana, a world
class animation studio expert in all formats and Corus
Studios, a globally recognized producer of hit scripted and
unscripted content. The company also owns full-service social
digital agency so.da, lifestyle entertainment company Kin
Canada, leading 2D animation software supplier Toon Boom and
children's book publishing house, Kids Can Press. Corus'
roster of premium brands includes Global Television, W Network,
HGTV Canada, Food Network Canada, Magnolia Network Canada, The
HISTORY® Channel, Showcase, Adult Swim, National Geographic, Disney
Channel Canada, YTV, Global News, Globalnews.ca, Q107, Country
105, and CFOX, along with streaming platforms STACKTV, TELETOON+,
the Global TV App and Curiouscast. Corus is the domestic
advertising representative and an original content partner for
Pluto TV, a Paramount Company, which is the leading free
ad-supported streaming television (FAST) service. For more
information visit www.corusent.com.
SOURCE Corus Entertainment Inc.