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The U.S. Bankruptcy Court approved iHeartMedia’s motion for the entry of an order extending the periods during which the Debtors have the exclusive right to file a Chapter 11 Plan, and obtain acceptance thereof, through and including November 24, 2018 and January 23, 2019, respectively. As previously reported, “The Debtors have continued to actively engage with various parties in interest not party to the Restructuring Support Agreement to attempt to build greater consensus regarding the Plan, including significant discussions with the official committee of unsecured creditors appointed in these chapter 11 cases. The Debtors also continue to engage with their non-Debtor affiliate, Clear Channel Outdoor Holdings (‘CCOH’), regarding the treatment of CCOH’s unsecured claim against the Debtors and the specifics of the separation of CCOH from the Debtors that is contemplated under the Restructuring Support Agreement and Plan. The Debtors’ exclusive period to file a plan is currently set to expire on July 12, 2018.”
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