Lenders are set to take over Canadian broadcaster
The owner of Global Television and a slate of specialty TV channels said Monday it has reached a deal with lenders and bondholders to reduce debt and other liabilities by more than C$500 million ($356 million). The transaction, which will be carried out through a court-supervised process, is expected to trim annual interest expenses by as much as C$40 million.
Under the plan, Corus will trade C$500 million of senior ...