[Edaily Reporter Gim Ga Yeong ] As the general entertainment channel JTBC undergoes corporate rehabilitation proceedings, it is accelerating the sale process.

According to JTBC on the 4th, the Seoul Bankruptcy Court approved JTBC’s application for a sale notice and guidelines for submitting letters of intent (LOI) on the same day, the 3rd.
JTBC plans to issue a sale notice on the 9th and proceed with the full-scale sale process. The sale will be conducted through an open competitive bidding process.
A JTBC spokesperson stated, “We plan to accept Letters of Intent (LOIs) for four weeks following the sale announcement, after which we will proceed with follow-up procedures such as preliminary due diligence.”
JTBC is pursuing a “pre-approval merger and acquisition (M&A).” This is a process in which a buyer is identified before the rehabilitation plan is approved, and debts are repaid using the proceeds from the sale. Han Young Accounting Firm has been appointed as the lead advisor for the sale.
JTBC had originally planned to issue the sale announcement last month, but the schedule was postponed.