Urban One, Inc. Announces Expiration of Tender Offer of 9.25% Senior Subordinated Notes Due 2020
January 07, 2019 at 04:32 pm
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Urban One, Inc. announced the expiration and final results of its previously announced cash tender offer (the "Tender Offer") to purchase any and all of its outstanding 9.25% Senior Subordinated Notes due 2020 (the "Notes"). The Tender Offer expired pursuant to its terms at 11:59 p.m. New York City time on January 3, 2019 (the "Expiration Time"). As earlier announced, the Company previously accepted for purchase $213,255,000 aggregate principal amount of the Notes, which Notes had been validly tendered and not validly withdrawn as of 5:00 p.m., New York City time on December 18, 2018 (the "Early Tender Time"), and paid for such Notes on December 20, 2018. Between the Early Tender Time and the Expiration Time, the Company received no additional tenders of Notes. Immediately following the Expiration Time, approximately $2.0 million aggregate principal amount of Notes remained outstanding.
Urban One, Inc. is an urban-oriented, multi-media company. The Companyâs core business is its radio broadcasting franchise, which is a radio broadcasting operation that primarily targets African-American and urban listeners. The Company operates through four segments: radio broadcasting, Reach Media, digital and cable television. The radio broadcasting segment consists of all broadcast results of operations. The Reach Media segment consists of the results of operations for the related activities and operations of the Companyâs syndicated shows. The digital segment includes the results of the Companyâs online business, including the operations of Interactive One, as well as the digital components of the Companyâs other reportable segments. The cable television segment includes the results of the operations of TV One and CLEO TV. The Company owns and/or operates over 72 independently formatted broadcast stations, located in 13 of the African-American markets in the United States.
URBAN ONE, INC. 
