DaouKiwoom-CJ consortium selected as preferred bidder for debt-laden JoongAng Ilbo

Creditors of JoongAng Ilbo Co. have selected a DaouKiwoom-CJ consortium as the preferred bidder for the debt-laden media firm. The deal, if completed, would transfer control of a major South Korean newspaper group to a financial and entertainment conglomerate. Financial terms and regulatory approval remain uncertain, but the selection marks a concrete step in the restructuring process.