iHeartMediaAmerica's #1 Audio Company Reaching 9 out of 10 Americans every month
iHeartMedia Receives Approval from the FCC to Increase Foreign Ownership to 100%
NEW YORK - iHeartMedia, Inc. (Nasdaq: IHRT), the number one audio company in America, today received a Declaratory Ruling from the Federal Communications Commission (FCC) approving an increase in iHeartMedia’s authorized aggregate foreign ownership from 25% to 100%, subject to certain conditions set forth in the Declaratory Ruling. The FCC concluded that the public interest would not be served by prohibiting foreign investment in iHeartMedia of up to 100%. The FCC’s decision will enable holders of iHeartMedia warrants to have those warrants exchanged into Class A or Class B shares of iHeartMedia common stock, subject to compliance with the Declaratory Ruling, the Communications Act, and FCC rules, and will afford iHeartMedia flexibility to accommodate increased foreign investment that may result from share purchases by the public.
Holders of iHeartMedia warrants will receive instructions regarding how to participate in the exchange of warrants from Computershare, iHeartMedia’s warrant agent, in an Exchange Notice that will be sent via U.S. mail. For additional information about the warrant exchange, please visit http://investors.iheartmedia.com/warrant-exchange or contact the Computershare Call Center at (800) 736-3001 within the United States, or outside of the United States +1 (781) 575-3100.