June 19, 2018 1:21 PM ET

Media

Company Overview of Katz Media Group, Inc.

Company Overview

Katz Media Group, Inc. operates as a media representation company in the United States. The company represents the on-air and digital assets of a network of radio and television stations to provide marketing solutions to advertisers and agencies. It offers radio campaigning and local television advertising solutions. The company also provides strategy, analytics, and research solutions. Katz Media Group, Inc. was formerly known as E. Katz Special Advertising Agency. The company was founded in 1888 and is headquartered in New York, New York with additional offices in the United States. Katz Media Group, Inc. operates as a subsidiary of iHeartMedia, Inc. On March 14, Katz Media Group, Inc., fi...

125 West 55th Street

New York, NY 10019-5366

United States

Founded in 1888

1,780 Employees

Phone:

212-424-6500

Fax:

212-424-6489

Key Executives for Katz Media Group, Inc.

Chief Executive Officer
Age: 65
Chief Executive Officer of Katz Television Group and President of Katz Television Group
Secretary, Director and President of Katz Television Group
Age: 67
President of CCM+E National Sales
President of Eastman Radio
Compensation as of Fiscal Year 2017.

Katz Media Group, Inc. Key Developments

Joint Plan of Reorganization Plan and Disclosure Statement Filed by iHeartMedia, Inc.

iHeartMedia, Inc., along with its affiliates, filed a joint plan of reorganization with the related disclosure statement in the US Bankruptcy Court on April 28, 2018. As per the plan filed, administrative claims, professional fee claims, priority tax claims, priority non-tax claim and DIP claims shall be paid full in cash. Secured tax claims shall be paid full in cash. Other secured claims shall receive, at the option of the applicable reorganized debtor payment in full in cash or reinstatement of such allowed claim or delivery of the collateral securing such allowed claim. Each holder of an allowed ABL credit agreement claim shall receive, at the option of the applicable reorganized debtor, payment in full in cash of such holder’s allowed ABL credit agreement claim or reinstatement of such holder’s allowed ABL credit agreement claim. Allowed Term Loan / 2019 PGN Claim in the amount of $8.46 billion shall receive its Pro Rata share of either the Term Loan / 2019 PGN Supplemental Distribution or if the FCC Trust is utilized as described in the Plan, the Term Loan /2019 PGN Supplemental Non-Equity Distribution and 2.21% of the beneficial interests in the FCC Trust; and Class 5’s Pro Rata share of either the Term Loan / PGNs Collective Distribution or if the FCC Trust is utilized as described in the Plan, the Term Loan / PGNs Collective NonEquity Distribution and 91.79% of the beneficial interests in the FCC Trust. Pursuant to the Plan Settlement, each Term Loan / 2019 PGN Claim that is an Intercompany Notes Claim will be cancelled without any distribution on account of such Term Loan / 2019 PGN Claim. Allowed Non 9.0% PGN Due 2019 Claim in the amount of $5 billion shall receive its Pro Rata share of Class 6’s Pro Rata share of either the Term Loan / PGNs Collective Distribution or if the FCC Trust is utilized as described in the Plan, the Term Loan / PGNs Collective Non-Equity Distribution and 91.79% of the beneficial interests in the FCC Trust. Pursuant to the Plan Settlement, each Non 9.0% PGN Due 2019 Claim that is an Intercompany Notes Claim will be cancelled without any distribution on account of such Non 9.0% PGN Due 2019 Claim. Allowed Unsecured Debt Claim in the amount of $2.95 billion shall receive its Pro Rata share of $200 million aggregate principal amount of the New Secured Debt; and either the Unsecured Debt Equity Distribution or if the FCC Trust is utilized as described in the Plan, 5.0% of the beneficial interests in the FCC Trust. Pursuant to the Plan Settlement, each Unsecured Debt Claim that is an Intercompany Notes Claim will be cancelled without any distribution on account of such Unsecured Debt Claim. Allowed General Unsecured Claim against the Non-Obligor Debtors shall receive, at the option of the applicable Reorganized Debtor, payment in full in Cash of such Holder’s Allowed General Unsecured Claim or such other treatment rendering such Holder’s Allowed General Unsecured Claim Unimpaired. iHC Unsecured Claim shall receive its Pro Rata share of the iHC Unsecured Claims Distribution. Pursuant to the Plan Settlement, each Holder of an iHC Unsecured Claim that has a Term Loan Credit Agreement Claim, a PGN Claim, or an Intercompany Notes Claim will not receive any share of the iHC Unsecured Claim Distribution. Allowed General Unsecured Claim against the Guarantor Debtors shall receive cash. Allowed CCOH Due from Claim in the amount of $1.02 billion shall receive cash. Allowed iHeart Interest shall receive its share of either the iHeart Interests Equity Distribution or if the FCC Trust is utilized as described in the Plan, 1% of the beneficial interests in the FCC Trust, and such distributions shall be made in accordance with the terms of the documents providing for corporate governance of iHeart. All Section 510(b) Claims, if any, shall be discharged, cancelled, released, and extinguished as of the Effective Date, and will be of no further force or effect, and Holders of Allowed Section 510(b) Claims will not receive any distribution on account of such Allowed Section 510(b) Claims. All Intercompany Claims shall be, at the option of the Reorganized Debtors and the Required Consenting Senior Creditors, either Reinstated or cancelled without any distribution on account of such interests. All Intercompany Interests shall be, at the option of the Reorganized Debtors, either Reinstated in accordance with Article III.G of the Plan or cancelled without any distribution on account of such Intercompany Interests. On the Effective Date, the iHeart Interests shall be cancelled. The plan shall be funded from Issuance and Distribution of New iHeart Common Stock, Special Warrants, and/or the Beneficial Interests in the FCC Trust, Issuance of New Secured Debt and iHC and its applicable Debtor Affiliates will execute the New ABL Credit Agreement Documents.

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