JTBC Opens Public Sale Process, With a Preferred Bidder to Be Picked in January
Broadcaster JTBC, which is under court-led rehabilitation, launched an open competitive sale on Nov. 9 KST and plans to select a preferred bidder in January 2027.
JTBC is officially for sale. The broadcaster, which is going through corporate rehabilitation, opened a public competitive bidding process on Nov. 9 KST and plans to choose a preferred negotiating partner in January 2027.
Its sale manager, EY Hanyoung, said the deal will bring in outside capital through a third-party paid-in capital increase and bond issuance. CHOSUNBIZ reports that means a buyer would put new money into JTBC to take control, rather than buying existing shareholders' stakes.
According to CHOSUNBIZ, letters of intent are due Dec. 4, preliminary due diligence runs Dec. 7 to Jan. 8, and final bids close Jan. 15. JTBC said it will follow the rehabilitation court's procedures and hopes the sale gives it a base for sustainable growth and stronger content and channels.
Confirmed
- EY Hanyoung, JTBC's sale manager, said in a sale notice on Nov. 9 KST that the sale will run as an open competitive bid by bringing in outside capital through a third-party paid-in capital increase and bond issuance.
- JTBC said it will run the sale transparently and fairly under the relevant laws and the rehabilitation court's procedures.
Reported by other outlets
- CHOSUNBIZ reports letters of intent are due by Dec. 4, preliminary due diligence runs from Dec. 7 to Jan. 8, and final proposals are due Jan. 15, 2027.
- CHOSUNBIZ reports the buyer would inject new capital into JTBC to gain management control, rather than buy out existing shareholders' stakes.