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April 27, 2015 2:24 PM ET

Media

Company Overview of iHeartCommunications, Inc.

Company Overview

iHeartCommunications, Inc., a diversified media and entertainment company, offers radio, digital, out-of-home, mobile, and on-demand entertainment and information services. The company operates in three segments: iHeartMedia, Americas Outdoor Advertising, and International Outdoor Advertising. The iHeartMedia segment provides radio broadcasting, online and mobile services and products, program syndication, entertainment, traffic and weather data distribution, and music research services. It also operates Premiere Networks, a radio network that produces, distributes, or represents approximately 90 syndicated radio programs; and serves 5,500 radio station affiliates. In addition, this segment ...

200 East Basse Road

San Antonio, TX 78209

United States

Founded in 1972

19,200 Employees

Phone:

210-822-2828

Key Executives for iHeartCommunications, Inc.

Chairman and Chief Executive Officer
Age: 60
President, Chief Financial Officer and Director
Age: 57
Chairman of Clear Channel Media & Entertainment and Chief Executive Officer, Clear Channel Media & Entertainment
Age: 57
Interim Chief Executive of Clear Channel's Adshel Joint Venture - Australia and New Zealand
Chief Executive Officer of Clear Channel Outdoor Holdings Inc.
Age: 58
Compensation as of Fiscal Year 2014.

iHeartCommunications, Inc. Key Developments

iHeartCommunications, Inc. Announces Pricing of Upsized Offering of 10.625% Priority Guarantee Notes Due 2023

iHeartCommunications, Inc. announced the pricing of an offering of $950.0 million aggregate principal amount of its 10.625% Priority Guarantee Notes due 2023. The offering was upsized from the previously announced $550.0 million aggregate principal amount. The Notes were priced at par and will be issued under an indenture to be dated as of February 26, 2015. The sale of the Notes is expected to be completed on February 26, 2015, subject to customary closing conditions. The Notes will be fully and unconditionally guaranteed on a senior secured basis by iHeartCommunications's parent, iHeartMedia Capital I, LLC, and all of iHeartCommunications existing and future material wholly-owned domestic restricted subsidiaries. The Notes and the related guarantees will be secured by (1) a lien on (a) the capital stock of iHeartCommunications and (b) certain property and related assets that do not constitute principal property (as defined in the indenture governing iHeartCommunications legacy notes), in each case equal in priority to the liens securing the obligations under iHeartCommunications senior secured credit facilities and existing priority guarantee notes and (2) a lien on the accounts receivable and related assets securing iHeartCommunications receivables based credit facility junior in priority to the lien securing iHeartCommunications obligations thereunder. iHeartCommunications intends to use the gross proceeds from this offering to prepay at par $916.1 million of the loans outstanding under its term loan B facility and $15.2 million of the loans outstanding under its term loan C asset sale facility, to pay accrued and unpaid interest with regard to such loans to, but not including, the date of prepayment, to pay fees and expenses related to the offering and the prepayment, and the remainder for general corporate purposes, including repayment of indebtedness.

iHeartCommunications, Inc. Announces Private Offering of $550.0 Million of Priority Guarantee Notes Due 2023

iHeartCommunications, Inc. announced that it intends to offer, $550.0 million in aggregate principal amount of Priority Guarantee Notes due 2023 in a private offering that is exempt from registration under the Securities Act of 1933, as amended. The Notes will be fully and unconditionally guaranteed on a senior secured basis by iHeartCommunications parent, iHeartMedia Capital I, LLC, and all of iHeartCommunications existing and future material wholly-owned domestic restricted subsidiaries. iHeartCommunications intends to use the gross proceeds from this offering to prepay at par approximately $532.7 million of the loans outstanding under its term loan B facility and approximately $8.8 million of the loans outstanding under its term loan C asset sale facility, to pay accrued and unpaid interest with regard to such loans to, but not including, the date of prepayment, and to pay fees and expenses related to the offering and the prepayment.

Clear Channel Outdoor Holdings Inc., iHeartCommunications, Inc., iHeartMedia, Inc., Q4 2014 Earnings Call, Feb 19, 2015

Clear Channel Outdoor Holdings Inc., iHeartCommunications, Inc., iHeartMedia, Inc., Q4 2014 Earnings Call, Feb 19, 2015

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