Central Daily News Submits Restructuring Plan with 64.73% Stake Transfer on July 11

According to E-Daily, Central Daily News submitted a comprehensive self-rescue plan on July 11 after its creditor committee approved a debt restructuring (workout) with 75% of financial creditors in agreement. The restructuring includes a plan to sell the entire 64.73% stake held by Central Holdings, the company's largest shareholder controlled by the founding family.

Mid-sized construction companies including Daewoo E&C and Hoban Group are reportedly considering acquiring the stake, as builders have historically pursued media acquisitions to enhance brand visibility and social influence. The workout grants creditors a three-month forbearance period on debt collection.