Quebecor aims to acquire Corus, seeking a 60% debt write-off to facilitate the purchase.

Quebecor Inc. aims to acquire Corus Entertainment, seeking a write-off of over 60% of Corus's $1.05 billion debt to facilitate the purchase. This Montreal-based telecom giant first approached Corus in January. Lenders, including the Royal Bank of Canada and Toronto-Dominion Bank, are granting Corus time to resolve its financial issues rather than accepting significant loan losses. Corus has substantial secured and unsecured debts due in the coming years.