Chorokbaem Media Swings to Operating Loss in Q1 2026; Broadcasting Segment Plummets

Consolidated operating loss of 79.66 billion KRW in Q1 2026 (vs operating profit of 238.40 billion KRW in Q1 2025); pre-tax loss from continuing operations of 177.49 billion KRW.
Broadcasting program segment revenue plunged 97.8% to 3.56 billion KRW (from 164.70 billion KRW), generating an operating loss of 36.77 billion KRW.
Food service segment was the largest revenue contributor at 109.14 billion KRW (44.4% of total), followed by management (98.06 billion, 39.9%) and broadcasting channel (26.61 billion, 10.8%).
Cash and cash equivalents of 163.59 billion KRW; total borrowings (including convertible bonds) of 52.10 billion KRW; derivative liabilities of 20.58 billion KRW.
Two convertible bonds outstanding totaling 50 billion KRW (conversion price 5,000 KRW per share); put option exercisable from September 2026.
Contingent liabilities from lawsuits: 10.25 billion KRW recognized for a service fee claim; damage claim appeal in progress.

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