Troubled broadcaster JTBC to select preferred bidder in January
Debt-ridden Korean broadcaster JTBC plans to select a preferred bidder in January, the company said Monday, putting up its official notice for the envisioned sale. The sale will be conducted through an open competitive bidding process through the injection of external capital, EY Hanyoung, the accounting firm advising the sale, said in the notice. Potential bidders can submit their letter of…
Korean broadcaster JTBC intends to choose a preferred bidder in January, according to an official notice announced on Monday. The broadcaster plans to conduct the sale through an open competitive bidding process, injecting external capital, as per the accounting firm advising the sale, EY Hanyoung. Potential bidders have four weeks to submit their letter of intent.
JTBC assures the sale will be carried out transparently and fairly, aligning with relevant laws and rehabilitation court procedures. The broadcaster hopes this merger and acquisition will establish a sustainable foundation for growth and enhance content and channel competitiveness. The sale announcement follows two months after the Seoul Bankruptcy Court approved JTBC's request to initiate rehabilitation proceedings in late August, enabling the company to restructure its debts under court supervision.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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