The Globe and Mail reports in its Friday, Oct. 10, edition that Corus Entertainment is facing a deja vu as lenders attempt to fix its struggling balance sheet. The Globe's Andrew Willis and Irene Galea write that top restructuring experts are working on a debt-for-equity swap to restructure $1.1-billion in debt. Many of these advisers were involved in the 2009 bankruptcy of Canwest Global and its subsequent sale to Shaw Communications. In this instalment of a long-running series, advisers for creditors and the Corus board are negotiating a deal to exchange $750-million in bonds for new shares that would give a majority equity interest in the company, currently controlled by Calgary's Shaw family. Corus executives aim to reduce interest payments and corporate loans to free up cash for programming as they shift from traditional broadcasting to digital media. On Wednesday, Bloomberg reported Corus's goal is to emerge from the restructuring with a $500-million enterprise value, representing its debt plus equity. Corus bonds due in 2028 and 2030 trade at 30 cents on the dollar. Talks with lenders about a potential restructuring that could dilute existing shareholders are negatively impacting the share price.