Tag: Exchange Offer

Industry News

Beasley Extends Deadline for Stock Exchange Offer

By TALKERS | by TALKERS

Beasley Broadcast Group, Inc. announces that the Withdrawal Deadline, Expiration Date and Subscription Form Delivery Date in connection with the previously announced exchange offer, tender offer, and offering of new notes by its wholly owned subsidiary, Beasley Mezzanine Holdings, LLC, have been extended to 5:00im pm, New York City time, on October 4, 2024, unless further extended. The Settlement Date has been extended to October 8, 2024, unless further extended. The extension was granted at the request of certain key holders of the existing 8.625% Senior Secured Notes due 2026 to amend their relative participation in the Tender Offer and the Exchange Offer. As of 5:00 pm on September 30, 2024, approximately 93% of outstanding Existing Notes have been submitted for tender or exchange in the Offers. The Company anticipates that after accommodating this request the total number of Existing Notes tendered or exchanged by the requesting Holders will remain unchanged.

Industry News

TALKERS News Notes

By TALKERS | by TALKERS

Edison Research just released its charts of the Top 25 Podcasts in the UK for the fourth quarter of 2023 and it’s interesting to note that the only U.S.-produced podcast to make the top 25 was “The Joe Rogan Experience,” which was #1 in the UK as it was in the U.S.

Cumulus Media announces that its subsidiary, Cumulus Media New Holdings Inc (the “Issuer”), is extending the Early Tender Time in its previously-announced Exchange Offer and Consent Solicitation (the “Exchange Offer and Consent Solicitation”), in which the Issuer offered to exchange any and all of the Issuer’s outstanding 6.750% Senior Secured First-Lien Notes due 2026 (the “Old Notes”) for new 8.750% Senior Secured First-Lien Notes due 2029 (“New Notes”), to be issued by the Issuer, upon the terms of and subject to the conditions set forth in the confidential offering memorandum and consent solicitation statement dated February 27, 2024 (the “Offering Memorandum”). Capitalized terms used but not defined in this press release have the respective meanings ascribed to such terms in the Offering Memorandum. The Issuer is extending the previously announced Early Tender Time to 5:00 pm ET on March 18, 2024.