[Sportschosun Jo Min-jung] JTBC, which is undergoing rehabilitation proceedings and an Autonomous Restructuring Support Program, has settled unpaid appearance fees and outside production costs.
JTBC said in an official statement on the 8th, "The dispatch fees and service fees whose payment had been delayed due to court approval procedures were all paid last week after receiving court permission." It added, "Based on the recently approved blanket authorization, unpaid appearance fees and outside production costs for some variety shows were also fully settled today."
JTBC bowed its head, saying, "We sincerely apologize to the performers and partner companies for the delay in the payment schedule while waiting for the court's decision."
Earlier, JTBC declared a default last month after failing to repay 20.6 billion won in securitized borrowings at maturity. After that, JoongAng Holdings, Jungang P&I, ContentreeJoongAng, and Megabox Joongang, among other affiliates of JoongAng Group, filed for rehabilitation proceedings, and JTBC also applied to the court for the Autonomous Restructuring Support Program.
At the end of last month, the Seoul Bankruptcy Court decided to begin rehabilitation proceedings for the affiliates excluding JTBC, while JTBC is currently discussing whether to initiate rehabilitation proceedings through the Autonomous Restructuring Support Program.
Jo Min-jung, mj.cho@sportschosun.com
