Corus announced an agreement to divest Toon Boom Animation to Integrated Media Company for ~$142M. The proceeds from the divestiture will be used for reducing its debt load. This will help to reduce its large outstanding debt balance, with a current net debt position of $1.3B. The company pays dividends of ~$42M per year, and it generates just over $100M in free cash flow per year, which combined with its recent divestiture should allow the dividend to continue for a bit longer, however, free cash flows have been declining over the years.
It is a step in the right direction, however, its debt remains high, interest payments are substantial, and the majority of the company is shrinking. We would have no interest in the company here.