JTBC Confirms EY Han Young as Lead Manager for Sale... Sale Notice to Be Issued in October

JoongAng Ilbo and JTBC headquarters (Photo by Yonhap News)

General programming channel JTBC has selected EY Han Young as the lead manager for its sale and is moving ahead with the process in earnest.

JTBC, which is undergoing corporate rehabilitation proceedings, said on October 14, “As EY Han Young has already familiarized itself with JTBC’s current status and key businesses in its role as the court-appointed examiner, we expect the merger and acquisition (M&A) process to proceed swiftly. We plan to issue a sale notice this month, with the goal of selling the company before the rehabilitation plan is approved.”

EY Han Young said, “JTBC is a major asset with high brand value, supported by its drama and entertainment content production capabilities, its intellectual property (IP) assets, and the highest news ratings among general programming channels. Multiple prospective buyers have expressed interest ahead of the sale process, and we expect market interest to grow further once the process begins in earnest.”

Starting with a sale notice this month, JTBC plans to proceed with the submission of letters of intent, due diligence, and bidding.

JTBC then plans to select a preferred negotiating partner and complete the M&A before approval of the rehabilitation plan, following the court procedures related to the final sale agreement.

This content was produced with the assistance of AI translation services.