Longtime finance executive John Gossling and content chief Troy Reeb are taking over immediately as co-CEOs, the board of the broadcasting company controlled by the Shaw family announced Monday. Murphy had been at Corus for 21 years. Corus owns 15 Global television stations and 39 radio stations, as well as streaming services. (The Logic)

Talking point: Murphy’s total pay slid after the company missed financial targets last year (as did other executives’, including Gossling’s and Reeb’s), though he still made more than $3.7 million. Corus’s share price has plunged over several months and reached new lows last week after Rogers snatched the Canadian rights to U.S. specialty channels that have been in Corus’s portfolio. Murphy complained in a statement then that Corus was suffering from structural inequities in the Canadian media and telecom industries that hurt independent broadcasters. Corus and telco Shaw Communications used to be linked, but were disentangled before Rogers bought its former rival last year. Corus’s Global network also cut about 35 unionized media and journalism jobs last week.