What’s In This Email

• Corus Entertainment announces major job cuts amid money troubles

• Canadian housing: Movement minimal despite rate cuts

• Visit Sandbanks Provincial Park

• Festival of South Asia

• Notable Spotlight: High Town

• Notable Listing: 344 Wellesley St. E

• Notable Plug 🔌

✍️ TAKE NOTE

Corus Entertainment Announces Major Job Cuts Amid Financial Struggles

Corus Entertainment Inc., a prominent television and radio broadcaster in Toronto, is undergoing significant restructuring to cut costs amid declining advertising revenue, regulatory challenges, and licensing battles. The company has announced that it expects to reduce its full-time workforce by 25% by the end of next month.

Key Takeaways

• Job Cuts: Around 800 positions will be eliminated, representing a 25% reduction in the full-time workforce since the beginning of the 2023 fiscal year.

• Financial Losses: Corus reported a loss attributable to shareholders of $769.9 million in its latest quarter, with revenue falling 16% year-over-year to $331.8 million.

• Declining Revenues: Television revenue dropped by 17% to $308.2 million, and radio revenue fell by 9.9% to $23.6 million.

• Operational Changes: Co-CEOs John Gossling and Troy Reeb are making "tough decisions" to close unsustainable business areas and pause long-term development activities to implement efficiency initiatives.

• Content and Licensing Challenges: The company lost rights to major brands like HGTV and Food Network due to a deal between Rogers Communications Inc. and Warner Bros. Discovery. Corus is exploring legal and regulatory options in response.

• Leadership Changes: Doug Murphy has retired as CEO, with Gossling and Reeb stepping in as co-CEOs.

Why This Matters: For those interested in business and media industries, understanding Corus Entertainment's significant changes highlights traditional media companies' broader challenges. These restructuring efforts and financial strategies reflect the evolving landscape of media consumption and the economic pressures on legacy media organizations.


Read the full article here.

Canadian Housing Market Update: Minimal Movement Despite Rate Cuts

The Bank of Canada’s recent rate cut has had little impact on the housing market. While some regions saw minor price increases, the national housing market remains relatively flat. Here’s a closer look at the latest trends and data in Canada’s housing bubbles.

Key Takeaways

• Overall Market Trends: Home sales rose by 3.7% in June from May but were down 9.4% year-over-year. New listings increased by 1.5%, with inventory up by 26% year-over-year.

• Home Prices: Nationally, home prices edged up by just 0.1% in June from May. From the peak in February 2022, prices have dropped by 14% and are down 3.4% year-over-year.

City-Specific Insights:

• Greater Toronto Area:

  • Single-family homes: +0.3% month-to-month, -15% from peak.

  • Condos: +0.2% month-to-month, -12.4% from peak.

• Greater Vancouver:

  • Single-family homes: +0.2% month-to-month, -2.5% from peak.

  • Condos: Unchanged month-to-month, +0.9% year-over-year.

• Calgary:

  • Single-family homes: +0.5% month-to-month to a new high, +11.3% year-over-year.

• Montreal:

  • Single-family homes: +1.4% month-to-month, -1.8% from peak.

• Edmonton:

  • Single-family homes: +1.3% month-to-month, -0.3% from peak.

  • Condos: +1.3% month-to-month, -19% from peak in June 2007.

• Quebec City:

  • Single-family homes: +2.0% month-to-month to a new high, +8.0% year-over-year.

• Winnipeg:

  • Single-family homes: +1.7% month-to-month, -1.6% from peak.

Why This Matters: This update highlights the nuanced dynamics of the Canadian housing market, emphasizing regional differences and overall stability despite economic interventions. Understanding these trends is crucial for potential homebuyers, investors, and stakeholders in the real estate market.

Read the full article here.

@ontariowonders

📍Sandbanks Provincial Park #sandbanks #beach #ontariopark #ontariobeach #summervibes #ontariotravels #destination #camping #placestovisit #fyp

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High Town

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Hightown Toronto, the newest Asian fusion izakaya on Baldwin Street! Step into a 90s-inspired space adorned with posters of Chinese celebrities from iconic TV series. Enjoy a seasonal menu blending Asian flavours with a modern twist, each dish inspired by diverse regions of China and expertly paired with sake. 

📍45 Baldwin St. 

Make a reservation.

Nestled in coveted northern Cabbagetown, this 3-storey, rare 4-bedroom Victorian brick home exudes historic charm and modern elegance. Situated on one of the most sought-after streets in the area, it is part of one of the largest neighborhoods of preserved Victorian homes in North America. Featuring soaring ceilings over 9 ft high and a modern kitchen, this house showcases beautiful design and functionality.

The neighborhood exudes architectural charm and community spirit, with congenial residents and a family-friendly atmosphere. Steps from Wellesley Park, the site of the annual Forsythia Festival, complete with a new splash pad and the gated Forsythia playground. Also nearby is the must-see Riverdale Farm and Park.

Contact Bethany King about this listing.

🔌 NOTABLE PLUG

🎙️ Get Into It: Dead Eyes podcast. Actor/comedian Connor Ratliff (The Chris Gethard Show, UCB, The Marvelous Mrs. Maisel) embarks upon a quest to solve a very stupid mystery that has haunted him for two decades: why Tom Hanks fired him from a small role in the 2001 HBO mini-series, Band Of Brothers. Listen on Apple or Spotify.

📄Notable Hires: Corporate Communications Lead @ Interac Corp.(on-site, Toronto)

🎓 Hope This Helps:Content Captain. Content that fills your Sales pipeline. Automatically.Captain’s plug-and-play, no-code AI engine creates your Content, Optimizes it with a suite of Engagement Tools, and Identifies your website visitors in real-time so you can close more deals - automatically.

🌍 Notable Destinations: Vancouver to Hong Kong ($1252 - $2150) Dates: September 16 - September 25. Click on this link to see the deal.

🧠Today We Learned: scientists have figured out a way to weigh clouds. Determining the cloud's approximate size is the first step. Clouds that are average in size weigh just about 1.1 million pounds.

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Notable Life is Canada for young professionals, entrepreneurs, and culture generators operated by The Notable Group. Notable Daily inspires ideas and sharpens the minds of over 40,000 top-tier professionals in competitive industries.

Disclosure: While we utilize artificial intelligence (AI) to assist with certain aspects of content development, all information provided in our content is thoroughly vetted and edited by our team of humans. We strive to ensure the accuracy and reliability of all information. However, we recommend that readers conduct research or seek professional advice to make informed decisions. This email may contain sponsored content.