iHeartCommunications, Inc. Announces Extension of Private Term Loan Offers
iHeartCommunications, Inc. (“iHeartCommunications”) today announced that it is extending the deadline for participation in the
private offers (the “Term Loan Offers”) to lenders under its Term Loan D and Term Loan E facilities (“Existing Term Loans”) to
amend the Existing Term Loans. The Term Loan Offers have been extended to 5:00 p.m., New York City time, on January 5, 2018.
iHeartCommunications is extending the Term Loan Offers to continue discussions with lenders regarding the terms of the Term Loan
Offers.
The terms of the Term Loan Offers have not been amended and remain the same as set forth in the Confidential Information
Memorandum, dated March 15, 2017, as supplemented by Supplements No. 1 through No. 5 (as so supplemented, the “Confidential
Information Memorandum”).
The Term Loan Offers, which are only available to holders of Existing Term Loans, are being made pursuant to the Confidential
Information Memorandum, and are exempt from registration under the Securities Act of 1933 (the “Securities Act”). The new
securities (the “New Securities”) of iHeartMedia, Inc., CC Outdoor Holdings, Inc., Broader Media, LLC and/or iHeartCommunications
being offered in the Term Loan Offers are offered only in reliance on exemptions from registration under the Securities Act. The
New Securities have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction,
and may not be offered or sold in the United States without registration or an applicable exemption from the Securities Act and
applicable state securities or blue sky laws and foreign securities laws.
Documents relating to the Term Loan Offers will only be distributed to holders of Existing Term Loans that complete and return a
letter of eligibility. Holders of Existing Term Loans that desire a copy of the letter of eligibility must contact Global
Bondholder Services Corporation, the tabulation agent and information agent for the Offers, by calling toll-free (866) 470-3700 or
at (212) 430-3774 (banks and brokerage firms) or visit the following website to complete and deliver the letter of eligibility in
electronic form: http://gbsc-usa.com/eligibility/ihc-termloanoffers.
This press release is for informational purposes only and shall not constitute an offer to sell or exchange nor the solicitation
of an offer to buy the New Securities or any other securities. The Term Loan Offers are not being made to any person in any
jurisdiction in which the offer, solicitation or sale is unlawful. Any offers of the New Securities are being made only by means of
the Confidential Information Memorandum.
About iHeartMedia, Inc./iHeartCommunications, Inc.
iHeartMedia, Inc. (PINK:IHRT), the parent company of iHeartCommunications, Inc., is one of the leading global media and
entertainment companies. The company specializes in radio, digital, outdoor, mobile, social, live events, on-demand entertainment
and information services for local communities, and uses its unparalleled national reach to target both nationally and locally on
behalf of its advertising partners. The company is dedicated to using the latest technology solutions to transform the company’s
products and services for the benefit of its consumers, communities, partners and advertisers, and its outdoor business reaches
over 31 countries across five continents, connecting people to brands using innovative new technology.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements based on current iHeartCommunications management expectations. These
forward-looking statements include all statements other than those made solely with respect to historical facts. Numerous risks,
uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking
statements. These risks, uncertainties and other factors include, but are not limited to, whether or not iHeartCommunications will
consummate the Term Loan Offers, and if it does, the timing of the Term Loan Offers. Many of the factors that will determine the
outcome of the subject matter of this press release are beyond iHeartCommunications’ ability to control or predict.
iHeartCommunications undertakes no obligation to revise or update any forward-looking statements, or to make any other
forward-looking statements, whether as a result of new information, future events or otherwise.
iHeartCommunications, Inc.
Media
Wendy Goldberg, 212-377-1105
Executive Vice President – Communications
or
Investors
Eileen McLaughlin, 212-377-1116
Vice President – Investor Relations
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