[Edaily Reporter Gim Ga Yeong ] JTBC, which is currently undergoing corporate rehabilitation proceedings, has issued a sale notice and has begun the process of finding a new owner in earnest.

EY Han Young, the lead advisor for the JTBC sale, announced on the 9th through a sale notice, “The sale will be conducted via an open competitive bidding process, utilizing external capital raised through a third-party allocation capital increase and the issuance of corporate bonds.”
The submission period for Letters of Intent (LOIs) will last for four weeks from the date of the announcement. Following this, the company plans to conduct preliminary due diligence on the companies that submitted LOIs and select a preferred bidder in January of next year.
A JTBC spokesperson stated, “We will conduct the sale transparently and fairly in accordance with relevant laws and regulations and the procedures of the rehabilitation court,” adding, “We will use this merger and acquisition (M&A) as an opportunity to establish a foundation for sustainable growth and strengthen the competitiveness of our content and channels.”
JTBC is pursuing a “pre-approval merger and acquisition (M&A).” This is a process in which a buyer is finalized 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 a sale notice last month, but the schedule was postponed.