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Corus Deal Stalls, OpenAI Ads Limited, Strategy Bitcoin Losses

Wall Street Journal US Business •
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Corus Entertainment's recapitalization plan faces mounting regulatory uncertainty as minority shareholders and Quebecor urge Canada's CRTC to reject the deal. National Bank analyst Adam Shine notes the company's weak quarter with revenue down 16% and Ebitda slashed in half, but the core issue remains approval for shedding more than C$500 million in debt.

OpenAI's advertising ambitions currently pose little threat to established platforms like Meta, Google and Amazon, according to JPMorgan analysts. While the AI lab could become a serious competitor long-term if it proves conversion rates and return on ad spend, its advertising technology remains in early stages. Analysts expect any initial gains to come from experimental budgets rather than challenging established high ROI channels.

Strategy Inc. continues pressuring Bitcoin markets despite holding roughly 4% of circulating supply. The company owns 847,363 BTC purchased at an average of $75,651 per coin, sitting on an unrealized $13 billion loss as Bitcoin trades around $60,106. Its preferred stock fell to $71.25, reflecting market concerns about broader fragility rather than systemic risk.

These developments highlight cross-currents in tech investing where regulatory hurdles, competitive positioning, and crypto volatility intersect. Each story demonstrates how market expectations can diverge sharply from operational realities.