iHeartMedia, Inc.

Case No. 18-31274


Case Background

On March 14, 2018, iHeartMedia, Inc. announced that it reached an agreement in principle with the majority of its creditors and its financial sponsors reflecting widespread support for a comprehensive balance sheet restructuring that would reduce iHeartMedia’s debt and give iHeartMedia a capital structure that matches its strong operating business.

To implement this agreed upon restructuring, iHeartMedia and certain of its subsidiaries (collectively, the “Company”) filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Court”). The cases are pending before the Honorable Marvin Isgur, and the cases are jointly administered under Case No. 18-31274.  Clear Channel Outdoor Holdings, Inc. and its subsidiaries did not commence Chapter 11 proceedings.

On October 18, 2018, iHeartMedia filed its Fifth Amended Joint Chapter 11 Plan of Reorganization (the “Plan”) and related Disclosure Statement. The Court began a hearing to consider confirmation of the Plan and on January 22, 2019, entered an order confirming the Plan, which will definitively restructure iHeartMedia’s debt and further enhance the Company’s position as America’s number one audio company. With its Plan approved, iHeartMedia completed its restructuring process in the first half of 2019.

iHeartMedia serves audiences, advertisers and other business partners across its industry-leading platforms. With broadcast radio, podcast, influencers, live events, social marketing, digital platforms and data capabilities, iHeartMedia uniquely meets the needs of digital and traditional marketers and has a greater consumer reach in the U.S. than any other media outlet.

For additional information:

• Click here to view the Company’s Plan Confirmation Press Release.

• Click here to view the Company’s Filing Press Release.

• Click here for Restructuring Frequently Asked Questions.

Media inquiries should be emailed to WendyGoldberg@iheartmedia.com.

Important Information & Dates

Deadline to File Claims

The Bankruptcy Court has set the following deadlines for filing proofs of claim against the Debtors:

  • General Claims Bar Date: June 29, 2018 at 5:00 p.m. (Central Time)
  • Governmental Claims Bar Date: September 11, 2018 at 5:00 p.m. (Central Time)

Click on "Submit a Claim" above to download a proof of claim form and for more information regarding filing a claim against the Debtors.

Plan and Disclosure Statement

On April 28, 2018, the Debtors filed their Plan of Reorganization and accompanying Disclosure Statement, both of which have been subsequently amended, supplemented, and modified.  On September 20, 2018, the Bankruptcy Court entered an order approving the Disclosure Statement and authorizing the Debtors to commence the solicitation of their Plan of Reorganization.  Following the November 16, 2018 voting deadline, the Debtors filed their memorandum of law in support of confirmation along with supporting declarations.  On January 10, 2019, the Bankruptcy Court conducted a hearing regarding confirmation of the Plan of Reorganization, which has been continued to January 17, 2019 at 9:00 AM (CT), January 22, 2019 at 8:30 AM (CT), and January 23, 2019 at 2:30 PM (CT).  On May 1, 2019, the Effective Date of the Plan occurred, and the Plan was consummated.

Please click on the link below to access the Plan and Disclosure Statement documents:

Plan & Disclosure Statement

Hearing on First Day Motions

A hearing on the Debtors' First Day Motions was held on March 15, 2018 at 2:00 PM (CT) before the Honorable Marvin Isgur, United States Bankruptcy Court for the Southern District of Texas (Houston Division).  A final hearing on certain of the First Day Motions  was held on April 12, 2018 at 2:00 PM (CT).  Please click below to view and download the Debtors' First Day Motions and First Day Orders:

First Day Motions

First Day Orders

Notice of Extension of FCC Certification Deadline 

To enable the Debtors to issue certain new equity securities pursuant to the Plan of Reorganization in compliance with the media and foreign ownership limitations set forth in the Communications Act of 1934, as amended, and the rules of the Federal Communications Commission, the Debtors must collect certain information from the potential recipients of those new equity securities.  Please click  here<span "> for further information regarding the purpose and the procedures for collecting the above-referenced certifications.   Please also note that the deadline to tender your notes and/or shares into DTC’s ATOP (if applicable) and the deadline to submit your paper copy certification form (as required by the Court-approved procedures) have been extended to February 11, 2019 at 5:00 PM ET and February 15, 2019 at 11:59 PM ET, respectively. Please click here<span "> for the most recent notice of extended deadlines.


Dates

May 1 2019 Effective Date ___________ Notice of (I) ... Add to Calendar
November 20 2019 Hearing 1:30 p.m. (CT) Agenda for Hea... Add to Calendar
+ SHOW ALL DATES
March 14 2018 __
Petition Date Add to Calendar
March 15 2018 2:00 PM (CT)
Hearing on First Day Motions First Day Motions Add to Calendar
March 27 2018 9:30 AM (CT)
April 12 2018 2:00 PM (CT)
Final Hearing on First Day Motions First Day Orders Add to Calendar
April 17 2018 10:00 AM (CT)
April 30 2018 1:30 PM (CT)
May 7 2018 10:30 AM (CT)
May 17 2018 11:00 a.m. (CT)
Hearing Add to Calendar
May 30 2018 10:00 a.m. (CT)
May 31 2018 1:30 p.m. (CT)
June 7 2018 3:30 p.m. (CT)
June 18 2018 3:30 p.m. (CT)
June 19 2018 3:45 p.m. (CT)
June 27 2018 11:30 a.m. (CT)
Omnibus Hearing Add to Calendar
June 29 2018 5:00 p.m. (CT)
July 10 2018 10:00 a.m. (CT)
July 11 2018 10:45 a.m. (CT)
Hearing Add to Calendar
August 2 2018 9:00 a.m. (CT)
August 8 2018 4:00 p.m. (CT)
Status Conference Add to Calendar
August 14 2018 11:00 a.m. (CT)
August 17 2018 10:00 a.m. (CT)
September 6 2018 10:00 a.m. (CT)
September 11 2018 5:00 p.m. (CT)
September 13 2018 2:30 p.m. (CT)
September 20 2018 10:00 a.m. (CT)
Telephonic Hearing Add to Calendar
September 25 2018 2:30 p.m. (CT)
October 3 2018 2:30 p.m. (CT)
October 26 2018 1:30 p.m. (CT)
November 6 2018 10:00 a.m. (CT)
November 19 2018 2:30 p.m. (CT)
November 27 2018 2:30 p.m. (CT)
November 30 2018 10:30 a.m. (CT)
December 17 2018 2:30 p.m. (CT)
January 10 2019 9:00 a.m. (CT)
January 17 2019 9: 00 a.m. (CT)
January 22 2019 8:30 a.m. (CT)
January 23 2019 2:30 p.m. (CT)
February 5 2019 2:30 p.m. (CT)
February 11 2019 5:00 p.m. (ET)
February 15 2019 11:59 p.m. (ET)
March 1 2019 __
March 7 2019 11:00 a.m. (CT)
Hearing on Claim Objections Add to Calendar
April 16 2019 1:30 p.m. (CT)
Hearing on Claim Objections Add to Calendar
May 1 2019 __
June 20 2019 1:30 p.m. (CT)
September 30 2019 1:30 p.m. (CT)
Hearing Add to Calendar
November 20 2019 1:30 p.m. (CT)

Parties

Debtors' Counsel

  • Kirkland & Ellis LLP (Chicago)

    300 North LaSalle Street
    Chicago, IL   60654
    https://www.kirkland.com
    Phone: 312.862.2000
    Fax: 312.862.2200

    James H.M. Sprayregen, P.C.
    Anup Sathy, P.C.
    Brian D. Wolfe

  • Kirkland & Ellis LLP (New York)

    601 Lexington Avenue
    New York, NY   10022
    https://www.kirkland.com
    Phone: 212.446.4800
    Fax: 212.446.4900

    Christopher J. Marcus, P.C.

  • Jackson Walker L.L.P.

    1401 McKinney Street, Suite 1900
    Houston, TX   77010
    https://www.jw.com
    Phone: 713.752.4200
    Fax: 713.752.4221

    Patricia B. Tomasco
    Matthew D. Cavenaugh
    Jennifer F. Wertz

United States Trustee and Court Information

Debtors

Case Number Debtor Name Petition Date
Case Number 18-31274 Debtor Name iHeartMedia, Inc. Petition Date March 14, 2018
Case Number 18-31277 Debtor Name AMFM Broadcasting Licenses, LLC Petition Date March 14, 2018
Case Number 18-31278 Debtor Name AMFM Broadcasting, Inc. Petition Date March 14, 2018
Case Number 18-31279 Debtor Name AMFM Operating, Inc. Petition Date March 14, 2018
Case Number 18-31280 Debtor Name AMFM Radio Licenses, LLC Petition Date March 14, 2018
Case Number 18-31281 Debtor Name AMFM Texas Broadcasting, LP Petition Date March 14, 2018
Case Number 18-31282 Debtor Name AMFM Texas Licenses, LLC Petition Date March 14, 2018
Case Number 18-31283 Debtor Name AMFM Texas, LLC Petition Date March 14, 2018
Case Number 18-31284 Debtor Name Capstar Radio Operating Company Petition Date March 15, 2018
Case Number 18-31285 Debtor Name Capstar TX, LLC Petition Date March 14, 2018
Case Number 18-31286 Debtor Name CC Broadcast Holdings, Inc. Petition Date March 14, 2018
Case Number 18-31287 Debtor Name CC Finco Holdings, LLC Petition Date March 14, 2018
Case Number 18-31288 Debtor Name CC Licenses, LLC Petition Date March 14, 2018
Case Number 18-31289 Debtor Name Christal Radio Sales, Inc. Petition Date March 15, 2018
Case Number 18-31290 Debtor Name Cine Guarantors II, Inc. Petition Date March 15, 2018
Case Number 18-31291 Debtor Name Citicasters Co. Petition Date March 15, 2018
Case Number 18-31292 Debtor Name Citicasters Licenses, Inc. Petition Date March 15, 2018
Case Number 18-31293 Debtor Name Clear Channel Broadcasting Licenses, Inc. Petition Date March 15, 2018
Case Number 18-31294 Debtor Name Clear Channel Holdings, Inc. Petition Date March 15, 2018
Case Number 18-31295 Debtor Name Clear Channel Investments, Inc. Petition Date March 15, 2018
Case Number 18-31296 Debtor Name Clear Channel Metro, LLC Petition Date March 15, 2018
Case Number 18-31297 Debtor Name Clear Channel Mexico Holdings, Inc. Petition Date March 15, 2018
Case Number 18-31298 Debtor Name Clear Channel Real Estate, LLC Petition Date March 15, 2018
Case Number 18-31299 Debtor Name Critical Mass Media, Inc. Petition Date March 15, 2018
Case Number 18-31273 Debtor Name iHeartCommunications, Inc. Petition Date March 14, 2018
Case Number 18-31275 Debtor Name iHeartMedia Capital I, LLC Petition Date March 14, 2018
Case Number 18-31276 Debtor Name iHeartMedia Capital II, LLC Petition Date March 14, 2018
Case Number 18-31301 Debtor Name iHeartMedia Management Services, Inc. Petition Date March 15, 2018
Case Number 18-31302 Debtor Name iHM Identity, Inc. Petition Date March 15, 2018
Case Number 18-31303 Debtor Name Katz Communications, Inc. Petition Date March 15, 2018
Case Number 18-31304 Debtor Name Katz Media Group, Inc. Petition Date March 15, 2018
Case Number 18-31305 Debtor Name Katz Millennium Sales & Marketing, Inc. Petition Date March 15, 2018
Case Number 18-31306 Debtor Name Katz Net Radio Sales, Inc. Petition Date March 15, 2018
Case Number 18-31307 Debtor Name M Street Corporation Petition Date March 15, 2018
Case Number 18-31308 Debtor Name Premiere Networks, Inc. Petition Date March 15, 2018
Case Number 18-31309 Debtor Name Terrestrial RF Licensing, Inc. Petition Date March 15, 2018
Case Number 18-31310 Debtor Name TTWN Media Networks, LLC Petition Date March 15, 2018
Case Number 18-31311 Debtor Name TTWN Networks, LLC Petition Date March 15, 2018
Case Number 18-31300 Debtor Name iHeartMedia + Entertainment, Inc. Petition Date March 15, 2018
Case Number 18-31274 Debtor Name All Debtors Petition Date March 14, 2018