The Seoul Bankruptcy Court approved troubled broadcaster JTBC’s request to begin rehabilitation proceedings, enabling it to restructure its debts under court supervision. The 2nd Division of the Seoul Rehabilitation Court, led by Presiding Judge Jung Joon-young, Chief Judge, ended JTBC’s Autonomous Restructuring System process on August 28 before commencing the formal case. JTBC, an affiliate of JoongAng Group, filed for rehabilitation on June 15, three days after failing to repay 20.6 billion won ($14.9 million) in asset-backed loans at maturity. The broadcaster has been hit by a major contraction in television advertising, fueled by rapid shifts in the media landscape.