iHeartCommunications, Inc. Announces Amendment And Extension Of Private Term Loan Offers

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San Antonio, TX, April 13, 2017 - iHeartCommunications, Inc. (“iHeartCommunications”) today announced that it is amending and extending the private offers (the “Term Loan Offers”) to lenders under the Company’s Term Loan D and Term Loan E facilities (“Existing Term Loans”) to amend the Existing Term Loans. As described below, the Term Loan Offers have been amended to increase the ratio of amended term loans to Existing Term Loans. The Term Loan Offers were previously scheduled to expire on April 14, 2017, at 5:00 p.m., New York City time, and will now expire on April 21, 2017, at 5:00 p.m., New York City time.

The amendments and extensions to the Term Loan Offers will be set forth in a Supplement No. 4 to the Confidential Information Memorandum dated April 13, 2017 (as amended or supplemented from time to time, the “Confidential Information Memorandum”).

As a result of the amendment to the Term Loan Offers, the consideration being offered in the Mid Participation Scenario is the same as the consideration being offered in the Low Participation Scenario. The consideration being offered in the High Participation Scenario or the Term Loans Only Scenario has not been amended. iHeartCommunications also expects to make certain other technical amendments that will be described in Supplement No. 4 to the Confidential Information Memorandum.

About iHeartMedia, Inc.

iHeartMedia (NASDAQ: IHRT) is the number one audio company in the United States, reaching nine out of 10 Americans every month. It consists of three business groups.

With its quarter of a billion monthly listeners, the iHeartMedia Multiplatform Group has a greater reach than any other media company in the U.S. Its leadership position in audio extends across multiple platforms, including more than 860 live broadcast stations in over 160 markets nationwide; its National Sales organization; and the company’s live and virtual events business. It also includes Premiere Networks, the industry’s largest Networks business, with its Total Traffic and Weather Network (TTWN); and BIN: Black Information Network, the first and only 24/7 national and local all news audio service for the Black community. iHeartMedia also leads the audio industry in analytics, targeting and attribution for its marketing partners with its SmartAudio suite of data targeting and attribution products using data from its massive consumer base.

The iHeartMedia Digital Audio Group includes the company’s fast-growing podcasting business -- iHeartMedia is the number one podcast publisher in downloads, unique listeners, revenue and earnings -- as well as its industry-leading iHeartRadio digital service, available across more than 250 platforms and 2,000 devices; the company’s digital sites, newsletters, digital services and programs; its digital advertising technology companies; and its audio industry-leading social media footprint.

The company’s Audio & Media Services reportable segment includes Katz Media Group, the nation’s largest media representation company, and RCS, the world's leading provider of broadcast and webcast software.

Visit iHeartMedia.com for more company information.