Korea’s JoongAng Seeks Rehabilitation After Broadcaster Default

South Korean media giant JoongAng Group has filed for court rehabilitation after its broadcaster defaulted on a loan, with the company hit by financial strain linked to its purchase of...

By Haram Lim, Sohee Kim · Bloomberg Markets

South Korean media giant JoongAng Group has filed for court rehabilitation after its broadcaster defaulted on a loan, with the company hit by financial strain linked to its purchase of expensive sports broadcasting rights acquired at the peak of the media market.