The Seoul Bankruptcy Court has granted South Korean broadcaster JTBC an additional month to negotiate restructuring plans with its creditors.
The ruling, issued on Wednesday, extends the deadline for the company to reach an agreement amid its ongoing liquidity crisis.
This development follows the court's earlier permission for JTBC to pursue autonomous restructuring, a process that underscores the severity of the broadcaster's financial difficulties.
The extension provides management with more time to finalize a deal with lenders, who have been engaged in stop-start negotiations for months.
The broadcaster's financial troubles have been a focal point for investors monitoring the South Korean media sector.
The court's decision to extend the timeline suggests that a resolution remains elusive, keeping uncertainty over the company's future structure and debt obligations in place.