[Official] JTBC to Issue Sale Announcement in October: "M&A Before Approval of Rehabilitation Plan"

*This content was translated by AI.View Original

With Hanyoung Accounting Firm confirmed as the sale advisor for JTBC, which has entered corporate rehabilitation proceedings, the sale process is expected to accelerate.

On the 29th, JTBC stated, "As Hanyoung Accounting Firm already understands JTBC's current status and key businesses in its capacity as the court-appointed investigator, we expect that a swift M&A process will be possible going forward," adding, "Aiming for a sale before the approval of the rehabilitation plan, we will swiftly proceed with procedures such as issuing a sale announcement in October."

Hanyoung Accounting Firm assessed that JTBC, which possesses high brand value including its capabilities in producing drama and variety show content, IP assets, and top news viewership among general cable channels, is "a rare large-scale asset in the domestic broadcasting and content market."

In particular, it explained, "Even before the sale process began, multiple potential buyers have shown interest, and we expect market attention to increase further once formal procedures commence."

The future sale process will proceed in the order of issuing a sale announcement in October, receiving letters of intent, conducting due diligence, and holding bidding. Subsequently, the plan is to select a preferred negotiation candidate and complete the M&A before the approval of the rehabilitation plan through a definitive contract and related court procedures.

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*This content was translated by AI.View Original