SEOUL, Oct. 23 (Yonhap) — Financial sources reported on Monday that three entities have made their final offers to purchase a major ownership stake in cable news channel YTN. The Korea Communications Commission will soon announce the winner of the bidding and the amount of the bid.
In November of last year, two state-run firms announced that they were putting their combined 30.95 percent stake in YTN up for sale. Hansae Co., a clothing exporter, Eugene Group, which has interests in distribution, finance, logistics, and entertainment, and the Global Peace Foundation (GPF), which was founded by Moon Hyun-jin, the third son of Moon Sun-myung, the late leader of the Unification Church, are the three bidders.
Samil PricewaterhouseCoopers is managing the transaction.
This file photo taken April 7, 2014, shows YTN's new headquarters named YTN New Square in Sangam, Mapo, in western Seoul. (Yonhap)
kyongae.choi@yna.co.kr
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