The Globe and Mail reports in its Friday edition that Corus Entertainment has finalized its recapitalization plan and appointed a new board of directors to strengthen its balance sheet amid declining revenue and weak advertising demand. The Globe's Irene Galea writes that the board faces the challenge of turning around a company impacted by job cuts and pressure from industry competition, particularly from streaming giants. Corus struck an agreement with debtholders last year in order to maintain operations as it struggled with a heavy debt load and liquidity constraints. The restructuring, okayed by the telecom regulator in September, saw some of Corus's lenders exchange about $500-million in debt for a 99-per cent ownership interest in new parent company Corus Entertainment Holdings, which will manage the company's 40 television stations and 36 radio stations. The new board will be composed of Maryann Turcke, Erin O'Toole, Stuart Garvie, Jeremy Walker and Corus chief executive officer and interim chief financial officer John Gossling. Ms. Turcke has been appointed chair of the board. She recently served as the chief operating officer of the National Football League, and previously as president of Bell Media.