As E Broadcasting moves to acquire 中央日報, Snowfox founder Chairman Kim Seung-ho (キム・スンホ) has offered his support. While some have pointed to the ability to raise acquisition financing as a key factor, the market is closely watching the outcome of the bidding process.
E Broadcasting is mobilising as a potential bidder for 中央日報, and according to people familiar with the matter, Chairman Kim Seung-ho (キム・スンホ) has expressed his support. The company had previously been viewed as facing challenges in securing external funding and firm commitments from investors, but the prevailing view is that securing a new source of funding could be decisive.
中央日報 is one of South Korea's leading general-interest daily newspapers, with sales of KRW321.0 billion last year. The acquisition was reported to be proceeding through a paid capital increase by third-party allotment. E Broadcasting submitted an LOI, but has been criticised for lacking sufficient financial resources, and securing external funding could determine the outcome.
Chairman Kim cited changes in traditional media and new business opportunities in the AI era as the background to his participation in E Broadcasting's bid to acquire 中央日報, the operator of Sampro TV. He previously sold Snowfox in the United States to Zensho, but the scale and structure of his investment in this transaction have not yet been disclosed.