JTBC enters rehabilitation proceedings and sale process

The Seoul Rehabilitation Court has officially decided to commence rehabilitation proceedings for JTBC, marking the end of its Autonomous Restructuring Support (ARS) period. Following the court's decision, JTBC will now enter a formal sale process to seek a new owner and stabilize its management.

The court cited several factors for the company's financial distress, including a shrinking advertising market due to the rise of OTT platforms, increased production costs for talent and labor, and significant concentrated expenditures for Olympic broadcasting rights. Additionally, a broader liquidity crisis within the JoongAng Group contributed to the situation.

JTBC has stated that despite the sale process, the production and broadcasting of current and upcoming programs will continue as scheduled. The company aims to complete the sale as quickly as possible to normalize operations. Under the court-led process, JTBC must submit a list of creditors by October 8 and a formal rehabilitation plan by January 29, 2027.