Economy · Planned · 2 sources combined
CJ and Dow Kium Alliance
Bidding for JoongAng Ilbo Acquisition
Deadline Deadline October 19 · Main Bidding Deadline for JoongAng Ilbo Sale
In short
CJ Group and Dow Kium Group have joined forces to enter the bidding for acquiring JoongAng Ilbo newspaper.
The two companies plan to participate together in the main bidding round.
CJ is already the third-largest shareholder with 9.24% stake in JoongAng Ilbo.
Key facts
| When | Main bidding will proceed until 2 p.m. on October 19. |
|---|---|
| Who | CJ Group and Dow Kium Group form a consortium. |
| What | The two companies plan to jointly participate in the main bidding for selling JoongAng Ilbo. |
| How | The alliance is analyzed as a strategy to circumvent large conglomerate shareholding restrictions under press law. |
What it means for me
As a media company ownership matter, direct impact on general readers' daily lives is limited.
