iHeartCommunications, Inc. Announces Private Term Loan Offers in Connection With a Proposed Global Restructuring of Its Indebtedness

iHeartCommunications, Inc. Announces Private Term Loan Offers in Connection With a Proposed Global Restructuring of Its Indebtedness

San Antonio, TX, March 15, 2017 - iHeartCommunications, Inc. (“iHeartCommunications”) today commenced 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 and/or exchange them for new term loans of iHeartCommunications (the “New Term Loans”), and new securities (the “New Securities”) of iHeartCommunications, 鶹Ƶ, Inc. (“鶹Ƶ”), CC Outdoor Holdings, Inc. (“CCO Holdings”) and/or Broader Media, LLC (“Broader Media”). CCO Holdings is a newly-formed entity that will hold an approximate 89.9% equity interest in Clear Channel Outdoor Holdings, Inc. (“CCOH”) upon closing of the Term Loan Offers if the High Participation Threshold (as defined below) is achieved.

About 鶹Ƶ, Inc.

鶹Ƶ, Inc. [Nasdaq: IHRT] is the leading audio media company in America, with nine out of ten Americans listening to iHeart broadcast radio in every month. iHeart's broadcast radio assets alone have a larger audience in the U.S. than any other media outlet and over four times the ad-enabled audience of the largest digital only audio service. iHeart is the largest podcast publisher according to both Podtrac and Triton, with more downloads than the next two podcast publishers combined, has the most recognizable live events across all genres of music, has the number one social footprint among audio players, has the highest-reach and most engaged influencers, and is the only fully integrated audio ad tech solution across broadcast, streaming and podcasts. The company continues to leverage its strong audience connection and unparalleled consumer reach to build new platforms, products and services. Visit 鶹Ƶ.com for more company information.