DaouKiwoom-CJ Consortium to Sign Deal to Acquire JoongAng Ilbo This Week
6 Articles
6 Articles
DaouKiwoom-CJ consortium to sign deal to acquire JoongAng Ilbo this week
A consortium comprising CJ, Shinsegae and two other companies will sign a deal Thursday to acquire debt-laden South Korean newspaper publisher JoongAng Ilbo, the company said Wednesday. Under the deal, the DaouKiwoom-CJ consortium will purchase 520 billion won ($388 million) worth of new shares in JoongAng Ilbo, with Daou Technology, CJ, Shinsegae and Saramin contributing 36.5 percent, 35.7 percent, 14.1 percent and 13.7 percent, respectively. T…
The Daou-CJ consortium will become the largest shareholder of JoongAng Ilbo. The consortium announced that it would guarantee the employment of JoongAng Ilbo employees and ensure editorial independence. JoongAng Ilbo announced on the 4th that it would sign a Conditional Share Subscription Agreement (SSA) worth 520 billion won with the Daou-CJ consortium, the preferred bidder for the merger and acquisition, on the 5th.
(Seoul = Yonhap News) KOSDAQ-listed company Saramin [143240] [invested 1,428 shares of JoongAng Ilbo, a newspaper manufacturing and sales business operator under the Act on the Promotion of Newspapers, etc.]
This article appeared on the Chosun Biz Money Move (MM) site at 13:05 on November 4, 2026. The consortium of Daou Kiwoom, CJ, and Shinsegae, which is pursuing the acquisition of JoongAng Ilbo, will secure management control of the newspaper through a paid-in capital increase worth 520 billion won without a capital reduction. It is understood that this will be done by issuing over 100 million new shares at par value, significantly diluting the st…
The Daou-CJ Consortium will become the new largest shareholder of JoongAng Ilbo. JoongAng Ilbo filed for a workout last June following the liquidity crisis at JoongAng Group affiliates, including JTBC and Contentree JoongAng. As part of the workout process, the company had been pursuing the sale of its management rights. On the 4th, JoongAng Ilbo announced that the Daou-CJ Consortium, the preferred bidder for the merger and acquisition (M&A) ai…
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