Company says the move comes after a ‘comprehensive review’ of Corus’s portfolio of channels surrounding the ‘evolving needs of our audiences and distribution partners.’Tijana Martin/The Canadian Press
Corus Entertainment Inc. CJR-B-T plans to wind down five kids’ channels later this summer as the broadcaster continues to cope with advertising revenue challenges.
The company says in a statement it will stop distributing ABC Spark, Nickelodeon, Disney French (La Chaine Disney), Disney XD and Disney Jr. channels as of Sept. 1.
Shows going off air would include SpongeBob SquarePants, The Backyardigans and Bluey.
A spokesperson says the move comes after a “comprehensive review” of Corus’s portfolio of channels surrounding the “evolving needs of our audiences and distribution partners.”
Corus says it will still operate the Disney Channel across its TV and streaming platforms.
Last month, the company said it slashed seven per cent of employee costs in its most recent quarter and was continuing to look for savings amid an advertising revenue slump.
Chief executive John Gossling told analysts that Corus anticipates TV advertising revenue to decline about 20 per cent year-over-year in the current quarter as “geopolitical and economic uncertainty” linger.
