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Clear Channel Communications, Inc. Extends the Exchange Offer for Its Senior Notes due 2021
SAN ANTONIO, TX --February 3, 2014--Clear Channel Communications, Inc. (“Clear Channel”) announced today that it has extended its exchange offer of its Senior Notes due 2021, which have been registered under the Securities Act of 1933, as amended, for all outstanding Senior Notes due 2021 (the “outstanding notes”), that were issued and sold by Clear Channel in 2013 in private placement offerings.
 
The exchange offer, previously scheduled to expire on January 31, 2014 at 5:00 p.m., New York City time, will now expire on February 12, 2014, at 5:00 p.m., New York City time, unless further extended by Clear Channel.
 
Approximately $1.34 billion in aggregate principal amount, or 73.45%, of the outstanding notes were tendered in the exchange offer as of 5:00 p.m., New York City time, on January 31, 2014.  The extension is intended to allow additional time for holders of the remaining outstanding notes to tender their outstanding notes in the exchange offer.
 
Copies of the exchange offer prospectus and letter of transmittal may be obtained from the exchange agent, Deutsche Bank Trust Company Americas, at 1-800-735-7777, Option 1.
 
This announcement is not an offer to sell any securities or a solicitation of any offer to buy any securities.  The exchange offer will be made only by means of a written prospectus.
 
About Clear Channel Communications
Clear Channel Communications is one of the leading global media and entertainment companies specializing in radio, digital, outdoor, mobile, live events, and on-demand entertainment and information services for local communities and providing premier opportunities for advertisers.
 
Cautionary Note Regarding Forward Looking Statements
 
This press release contains forward-looking statements based on current Clear Channel management expectations.  These forward-looking statements include all statements other than those made solely with respect to historical facts.  Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statements.  Many of the factors that will determine the outcome of the subject matter of this press release are beyond Clear Channel’s ability to control or predict.  Clear Channel undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
 
      • For further information, please contact:
         
        Media
        Wendy Goldberg
        Executive Vice President – Communications
        (212) 549-0965

      • Investors
      • Brian Coleman
        Senior Vice President — Treasurer
        (210) 832-3111
About iHeartMedia, Inc./iHeartCommunications, Inc.

iHeartMedia, Inc (PINK: IHRT), the parent company of iHeartCommunications, Inc., is one of the leading global media and entertainment companies. The company specializes in radio, digital, outdoor, mobile, social, live events, on-demand entertainment and information services for local communities, and uses its unparalleled national reach to target both nationally and locally on behalf of its advertising partners. The company is dedicated to using the latest technology solutions to transform the company’s products and services for the benefit of its consumers, communities, partners and advertisers, and its outdoor business reaches over 35 countries across five continents, connecting people to brands using innovative new technology.

About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc., (NYSE: CCO) is one of the world’s largest outdoor advertising companies, with more than 650,000 displays in over 35 countries across five continents, including 43 of the 50 largest markets in the United States. Clear Channel Outdoor Holdings offers many types of displays across its global platform to meet the advertising needs of its customers. This includes a growing digital platform that now offers over 1,050 digital billboards across 29 U.S. markets. Clear Channel Outdoor Holdings’ International segment operates in 22 countries across Asia, Australia and Europe in a wide variety of formats.