Radio One Announces New Extension Of Pending Exchange Offer
August 31, 2010 at 4:15 AM (PT)
RADIO ONE has further 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 SEPTEMBER 15th, 2010.
As of 5p ET, on AUGUST 30th, 2010, approximately 91.8% of the outstanding Existing Notes had been validly tendered into the exchange offer and not withdrawn.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, dated JUNE 16th, 2010, were not satisfied and, as a result, the Company has determined to further extend the exchange offer.