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…
Debt-laden Korean television network JTBC intends to announce a preferred bidder for a potential sale in January, announced the company on Monday. The sale process will involve an open competitive bidding mechanism to inject external funding, according to EY Hanyoung, the accounting firm guiding the transaction. Interested parties have four weeks to submit a letter of intent.
JTBC pledged to conduct the sale transparently and fairly, adhering to applicable laws and rehabilitation court protocols. The broadcaster hopes the sale will provide a stable foundation for future growth and enhance content and channel competitiveness. The decision to sell came two months after the Seoul Bankruptcy Court greenlit JTBC's request to commence rehabilitation proceedings in late August, enabling the company to restructure its debts under court oversight.
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- Troubled broadcaster JTBC to select preferred bidder in Jan. en.yna.co.kr
- Troubled broadcaster JTBC to select preferred bidder in January koreatimes.co.kr
