Corus Shares May Be Worthless After Rogers-Warner Deal, TD Says
- Canadian company poised to lose HGTV and other programming
- ‘This could be a very dangerous slippery slope’: TD analyst
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Shares of Canadian media company Corus Entertainment Inc. may be worth zero if Rogers Communications Inc. is successful in snatching away programming and trademark deals for channels owned by Warner Bros Discovery Inc., according to analysts at TD Cowen.
Corus, an independent television and radio company that’s controlled by the Shaw family of Alberta, is at risk of losing the Canadian rights to programming on five key channels, including HGTV and the Food Network. Rogers said Monday it signed an agreement with Warner to become the rights holder to those TV brands, starting in January.