JTBC has opened a sale process to attract outside investment, with a preferred bidder expected in January, The Korea Herald reported.
EY Hanyoung, the accounting firm advising on the transaction, has given potential buyers four weeks to submit letters of intent. Its notice describes an open competition intended to bring new funding into the broadcaster.
JTBC said it would follow relevant laws and rehabilitation court procedures, describing the process as “transparent and fair.” The broadcaster said it hopes the deal will support growth and strengthen its position in content and channels.
JTBC plans to select its preferred bidder in January.
