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NEW YORK - ÇÑ×ÓÎÛÎÛÊÓƵ, 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 ÇÑ×ÓÎÛÎÛÊÓƵ’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 ÇÑ×ÓÎÛÎÛÊÓƵ of up to 100%. The FCC’s decision will enable holders of ÇÑ×ÓÎÛÎÛÊÓƵ warrants to have those warrants exchanged into Class A or Class B shares of ÇÑ×ÓÎÛÎÛÊÓƵ common stock, subject to compliance with the Declaratory Ruling, the Communications Act, and FCC rules, and will afford ÇÑ×ÓÎÛÎÛÊÓƵ flexibility to accommodate increased foreign investment that may result from share purchases by the public.

Holders of ÇÑ×ÓÎÛÎÛÊÓƵ warrants will receive instructions regarding how to participate in the exchange of warrants from Computershare, ÇÑ×ÓÎÛÎÛÊÓƵ’s warrant agent, in an Exchange Notice that will be sent via U.S. mail. For additional information about the warrant exchange, please visit or contact the Computershare Call Center at (800) 736-3001 within the United States, or outside of the United States +1 (781) 575-3100.