91ԹCommunications, Inc. Announces the Expiration of its Private Offer to Exchange 10.0% Senior Notes Due 2018 for Newly-Issued 11.25% Priority Guarantee Notes Due 2021

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SAN ANTONIO, Texas, February 6, 2017 - 91ԹCommunications, Inc. (“91ԹCommunications”) announced today the expiration of its private offer (the “Exchange Offer”) to eligible holders of 91ԹCommunications’ outstanding 10.0% Senior Notes due 2018 (the “Outstanding Notes”) to exchange Outstanding Notes for newly-issued 11.25% Priority Guarantee Notes due 2021 of 91ԹCommunications (the “New Notes”). The Exchange Offer expired at midnight, New York City time, on February 3, 2017 (the “Expiration Time”).

As of the Expiration Time, approximately $737.9 million in aggregate principal amount (or approximately 86.8%) of Outstanding Notes, including approximately $503.0 million in aggregate principal amount of Outstanding Notes held by subsidiaries of 91ԹCommunications, had been validly tendered and not withdrawn in the Exchange Offer. 91ԹCommunications expects to deliver the New Notes to be exchanged for the Outstanding Notes validly tendered and not validly withdrawn on February 7, 2017 (the “Settlement Date”). All Outstanding Notes held by unaffiliated parties that were validly tendered in the Exchange Offer will be exchanged for New Notes. Outstanding Notes held by subsidiaries of 91ԹCommunications that were validly tendered in the Exchange Offer will be prorated so that 91ԹCommunications does not exceed its current secured debt capacity under the indentures governing its existing indebtedness. Accordingly, on the Settlement Date, 91ԹCommunications expects to issue approximately $476.4 million in aggregate principal amount of New Notes, including approximately $241.4 million in aggregate principal amount of New Notes to its subsidiaries.​​​

About 91ԹMedia, Inc.

91ԹMedia, Inc. [Nasdaq: IHRT] is the leading audio media company in America, with 90% of Americans listening to 91Թ broadcast radio in every month. 91Թ’s broadcast radio assets alone have a larger audience in the U.S. than any other media outlet; twice the size of the next largest broadcast radio company; and over four times the ad-enabled audience of the largest digital only audio service. 91Թ is the largest podcast publisher according to Podtrac, 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, with seven times more followers than the next audio media brand, 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 91ԹMedia.com for more company information.