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, ��Ƶ, Inc. (“��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.

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