JTBC has flatly denied a Japanese media report claiming that the broadcaster's World Cup coverage could be cut off because it failed to pay part of its rights fee to FIFA, calling the report "incorrect information."
On Monday, JTBC issued an official statement saying it "will broadcast the ongoing 2026 FIFA World Cup in North and Central America without any disruption all the way through the final." The broadcaster added, "We plan to vividly deliver the World Cup from the venue, including the South Korean national team's matches as well as the very end of the tournament, so we hope viewers will not be misled by incorrect information."
The previous day, Japanese broadcaster TBS reported that JTBC, which acquired the World Cup broadcast rights in South Korea, had failed to pay part of its rights fee to FIFA. The report said that if the cash-strapped JTBC fails to make the payment, there is a possibility that World Cup match broadcasts in South Korea could be suspended from the 29th onward.
Earlier, on the 12th of this month, JTBC, an affiliate of JoongAng Group, declared a default after failing to repay a total of 20.6 billion won in securitized borrowings. Regarding this, JTBC said, "We will do our best by mobilizing all available means internally and externally to resolve this situation as quickly as possible with a responsible attitude," adding that "news reporting and major sports broadcasts, as well as all broadcast content production and airing, are operating normally."
Subsequently, JTBC, along with its holding company JoongAng Holdings and affiliates Contentree JoongAng, Megabox JoongAng, and JoongAng P&I, entered corporate rehabilitation proceedings. JoongAng Ilbo, the founding company of JoongAng Group, officially filed for a workout program on the 19th.
The Seoul Bankruptcy Court's second rehabilitation division, headed by Chief Judge Jung Jun-young, will sequentially hold hearings for the representatives of JoongAng Holdings, JoongAng P&I, JTBC, Megabox JoongAng, and Contentree JoongAng starting at 10 a.m. Monday. The court plans to ask about the representatives' personal details, the debtors' overview, status of assets and liabilities, and reasons for filing for rehabilitation, and to hear their responses. The Debtor Rehabilitation and Bankruptcy Act stipulates that a decision on whether to commence rehabilitation proceedings must be made within one month of the filing date. The court is also expected to determine whether to apply the Autonomous Restructuring Support (ARS) program that JTBC has requested.
