茄子污污视频 Statement on the FCC鈥檚 Conditional Approval of Its Pending Radio Station Acquisitions

NEW YORK-- March 26, 2021-- 茄子污污视频, Inc. (Nasdaq:IHRT) today issued the following statement regarding approval of 茄子污污视频鈥檚 pending applications to acquire certain radio stations, and the temporary shareholder restrictions required by the FCC to be imposed upon Global Media & Entertainment Investments Ltd (鈥淕MEI鈥) in connection with those approvals:

鈥溓炎游畚凼悠 values its shareholder relationships and we welcome all new shareholders to 茄子污污视频. However, because GMEI is a foreign shareholder, its recent investment was inconsistent with the FCC鈥檚 foreign ownership rules and created an operating issue for us under the FCC鈥檚 regulatory framework.

As background, GMEI鈥檚 purchase of an 8.7% position in our Class A Common stock, as reported in its Schedule 13D filed with the Securities and Exchange Commission on February 5, 2021, caused a violation of the FCC鈥檚 foreign ownership regulations and the FCC鈥檚 November 5, 2020 declaratory ruling related to the company鈥檚 foreign ownership, both of which limit a foreign investor in GMEI鈥檚 position to 5% without prior FCC approval. To address this issue, over which 茄子污污视频 had no prior knowledge or control, we filed a remedial petition for declaratory ruling requesting FCC approval for GMEI to have the ability to increase its ownership to up to 9.99% (the 鈥楶etition鈥).

Notwithstanding the GMEI investment, the FCC has approved 茄子污污视频鈥檚 acquisitions of certain stations, including stations for BIN: Black Information Network. However, the FCC has required that the company impose temporary shareholder restrictions on GMEI as a condition of approving those radio station acquisitions.

To comply with the FCC order, 茄子污污视频鈥檚 Board of Directors resolved to take action consistent with the FCC鈥檚 conditional requirements. These actions include imposing temporary voting and other shareholder restrictions on GMEI which will apply during the pendency of the Petition and which are described in detail in the FCC鈥檚 decision which can be found at and in our 8-K filed Friday, March 26, 2021.

茄子污污视频 respects the FCC process and will, as a matter of consistent policy, ensure the company鈥檚 compliance with the FCC鈥檚 foreign ownership and other regulations.鈥

About 茄子污污视频, Inc.

茄子污污视频 (NASDAQ: IHRT) is the number one audio company in the United States, reaching nine out of 10 Americans every month. It consists of three business groups.

With its quarter of a billion monthly listeners, the 茄子污污视频 Multiplatform Group has a greater reach than any other media company in the U.S. Its leadership position in audio extends across multiple platforms, including more than 860 live broadcast stations in over 160 markets nationwide; its National Sales organization; and the company鈥檚 live and virtual events business. It also includes Premiere Networks, the industry鈥檚 largest Networks business, with its Total Traffic and Weather Network (TTWN); and BIN: Black Information Network, the first and only 24/7 national and local all news audio service for the Black community. 茄子污污视频 also leads the audio industry in analytics, targeting and attribution for its marketing partners with its SmartAudio suite of data targeting and attribution products using data from its massive consumer base.

The 茄子污污视频 Digital Audio Group includes the company鈥檚 fast-growing podcasting business -- 茄子污污视频 is the number one podcast publisher in downloads, unique listeners, revenue and earnings -- as well as its industry-leading iHeartRadio digital service, available across more than 500 platforms and 2,000 devices; the company鈥檚 digital sites, newsletters, digital services and programs; its digital advertising technology companies; and its audio industry-leading social media footprint.

The company鈥檚 Audio & Media Services reportable segment includes Katz Media Group, the nation鈥檚 largest media representation company, and RCS, the world's leading provider of broadcast and webcast software.

Visit 茄子污污视频.com for more company information.