Radio One Extends Pending Exchange Offer
July 16, 2010 at 6:37 AM (PT)
RADIO ONE, INC. has extended the expiration time of its previously announced exchange offer for its 8-7/8% Senior Subordinated Notes due 2011 and its 6-3/8% Senior Subordinated Notes due 2013, and the related consent solicitation, to 5p (ET) on JULY 31st.
As of 5p (ET) YESTERDAY (7/15), approximately 89.8% of the outstanding Existing Notes had been validly tendered into the exchange offer and not withdrawn. At the previously scheduled expiration time, the conditions necessary to consummate the exchange offer as set forth in the Company's Exchange Offer and Consent Solicitation Statement and Offering Memorandum were not satisfied and, as a result, the Company has determined to extend the exchange offer.