|By PR Newswire||
|December 10, 2012 01:00 AM EST||
BURBANK, Calif., Dec. 10, 2012 /PRNewswire/ -- Liberman Broadcasting, Inc. ("Parent"), LBI Media Holdings, Inc. ("Holdings") and LBI Media, Inc. ("Media" and together with Parent and Holdings, the "Companies") announced today that they have extended the expiration date for their previously announced private exchanges offers (the "Exchange Offers") with respect to Media's 8½% senior subordinated notes due 2017 (the "Old Senior Subordinated Notes") and Holdings' 11% senior discount notes due 2013 (the "Discount Notes", and together with the Old Senior Subordinated Notes, the "Old Notes") and the solicitation of consents with respect to the proposed amendments to the indenture governing the Discount Notes (the "Discount Notes Consent Solicitation") to 5 p.m., New York City time, on December 14, 2012.
Old Notes may still be tendered and consents with respect to the Discount Notes Consent Solicitation may still be delivered until 5 p.m., New York City time, on December 14, 2012 unless the Exchange Offers or Discount Notes Consent Solicitation is terminated or withdrawn earlier, or unless the Exchange Offers or Discount Notes Consent Solicitation is further extended. The Companies have the right to amend, terminate or withdraw any of the Exchange Offers or Discount Notes Consent Solicitation, at any time and for any reason, including if any of the conditions to the Exchange Offers or Discount Notes Consent Solicitation are not satisfied. The Withdrawal Deadline (as defined in the Offering Memorandum) for the Exchange Offers and the Discount Notes Consent Solicitation has expired. Old Notes that have previously been validly tendered (and not withdrawn) in the Exchange Offers and consents that have been validly delivered (and not withdrawn) in the Discount Notes Consent Solicitation may no longer be withdrawn.
The terms of the Exchange Offers and Discount Notes Consent Solicitation were initially described in a confidential offering memorandum and consent solicitation statement, dated July 17, 2012 (the "Initial Offering Memorandum"). The Initial Offering Memorandum was supplemented by the Supplement to the Confidential Offering Memorandum and Consent Solicitation Statement dated July 24, 2012, the Second Supplement to the Confidential Offering Memorandum and Consent Solicitation Statement dated October 12, 2012, the Third Supplement to the Confidential Offering Memorandum and Consent Solicitation Statement dated October 18, 2012, the Fourth Supplement to the Confidential Offering Memorandum and Consent Solicitation Statement dated October 26, 2012, the Fifth Supplement to the Confidential Offering Memorandum and Consent Solicitation dated November 2, 2012, the Sixth Supplement to the Confidential Offering Memorandum and Consent Solicitation dated November 19, 2012 and the press releases issued by Media or Media and Holdings on August 14, 2012, August 30, 2012, September 21, 2012, September 28, 2012, October 5, 2012, October 12, 2012, October 26, 2012, November 2, 2012, November 13, 2012, November 19, 2012 and December 4, 2012 (collectively, the "Offering Memorandum").
The Companies announced additional preliminary results of the Exchange Offers and the Discount Notes Consent Solicitation. As of 5 p.m., New York City time, on December 7, 2012, (i) approximately $174.6 million, or 76.3%, of the outstanding principal amount of Old Senior Subordinated Notes had been validly tendered and not withdrawn, and (ii) approximately $30.4 million, or 72.7%, of the outstanding principal amount of Discount Notes not held by Holdings had been validly tendered and not withdrawn and the corresponding amount of Discount Notes had validly delivered consents to the proposed amendments to the indenture governing the Discount Notes in connection with the Discount Notes Consent Solicitation.
Media also announced today that it has extended the expiration date for the concurrent solicitation of solicitation consents (the "Solicitation Consents") to the proposed amendments to the indenture governing Media's 9¼% Senior Secured Notes due 2019 (the "First Priority Senior Secured Notes") to 5 p.m., New York City time, on December 14, 2012. Holders of First Priority Senior Secured Notes may still deliver Solicitation Consents until 5 p.m., New York City time, on December 14, 2012; however, the right to revoke Solicitation Consents has expired. Solicitation Consents that have previously been validly delivered (and not withdrawn) may no longer be revoked.
The terms of the solicitation of Solicitation Consents are described in the Consent Solicitation Statement, dated July 17, 2012, as supplement by the Supplement, dated October 12, 2012, the Second Supplement, dated October 18, 2012, the Third Supplement, dated November 2, 2012 and further supplemented by the Fourth Supplement, dated November 19, 2012 (collectively, the "Consent Solicitation Statement").
As of 5 p.m., New York City time, on December 7, 2012, approximately $64.7 million, or 29.4%, of the outstanding principal amount of First Priority Senior Secured Notes had validly delivered Solicitation Consents.
The securities offered as consideration in exchange for the Old Notes in the Exchange Offers will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be transferred or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. The Exchange Offers are being made only to qualified institutional buyers and accredited investors and outside the United States to persons other than U.S. persons. The Exchange Offers are made only by, and pursuant to, the terms set forth in the Offering Memorandum, and the information in this press release is qualified by reference to the Offering Memorandum and the accompanying consent and letter of transmittal and beneficial ownership information form.
This press release shall not constitute a solicitation of consents, an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. No recommendation is made as to whether holders of the securities should tender their securities or give their consent.
D.F. King & Co., Inc. ("D.F. King") is acting as the Information Agent and Exchange Agent for the Exchange Offers and Discount Notes Consent Solicitation and Solicitation Consents. Requests for the Offering Memorandum, the accompanying consent and letter of transmittal and beneficial ownership information form, the Consent Solicitation Statement, the accompanying consent and letter of transmittal, and any supplements thereto may be directed to D.F. King at (212) 269-5550 (for brokers and banks) or (800) 431-9645 (for all others).
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Companies' current views with respect to future events and are based on assumptions and are subject to risks and uncertainties. The Companies undertake no obligation to update or revise any forward-looking statements to reflect developments or information obtained after the date of this press release, except as required by law.
SOURCE LBI Media, Inc.
The most often asked question post-DevOps introduction is: “How do I get started?” There’s plenty of information on why DevOps is valid and important, but many managers still struggle with simple basics for how to initiate a DevOps program in their business. They struggle with issues related to current organizational inertia, the lack of experience on Continuous Integration/Delivery, understanding where DevOps will affect revenue and budget, etc. In their session at DevOps Summit, JP Morgentha...
May. 28, 2015 10:18 AM EDT
While there are hundreds of public and private cloud hosting providers to choose from, not all clouds are created equal. If you’re seeking to host enterprise-level mission-critical applications, where Cloud Security is a primary concern, WHOA.com is setting new standards for cloud hosting, and has established itself as a major contender in the marketplace. We are constantly seeking ways to innovate and leverage state-of-the-art technologies. In his session at 16th Cloud Expo, Mike Rivera, Seni...
May. 28, 2015 10:15 AM EDT Reads: 768
To manage complex web services with lots of calls to the cloud, many businesses have invested in Application Performance Management (APM) and Network Performance Management (NPM) tools. Together APM and NPM tools are essential aids in improving a business's infrastructure required to support an effective web experience... but they are missing a critical component - Internet visibility. Internet connectivity has always played a role in customer access to web presence, but in the past few years u...
May. 28, 2015 10:00 AM EDT Reads: 5,573
There's Big Data, then there's really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at Big Data Expo®, Hannah Smalltree, Director at Treasure Data, discussed how IoT, Big D...
May. 28, 2015 10:00 AM EDT Reads: 4,111
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists will peel away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud en...
May. 28, 2015 10:00 AM EDT Reads: 1,827
EMC Corporation on Tuesday announced it has entered into a definitive agreement to acquire privately held Virtustream. When the transaction closes, Virtustream will form EMC’s new managed cloud services business. The acquisition represents a transformational element of EMC’s strategy to help customers move all applications to cloud-based IT environments. With the addition of Virtustream, EMC completes the industry’s most comprehensive hybrid cloud portfolio to support all applications, all workl...
May. 28, 2015 10:00 AM EDT Reads: 818
Software Defined Storage provides many benefits for customers including agility, flexibility, faster adoption of new technology and cost effectiveness. However, for IT organizations it can be challenging and complex to build your Enterprise Grade Storage from software. In his session at Cloud Expo, Paul Turner, CMO at Cloudian, looked at the new Original Design Manufacturer (ODM) market and how it is changing the storage world. Now Software Defined Storage companies can build Enterprise grade ...
May. 28, 2015 10:00 AM EDT Reads: 4,557
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
May. 28, 2015 10:00 AM EDT Reads: 4,043
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists will address the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affec...
May. 28, 2015 10:00 AM EDT Reads: 1,418
Information Technology (IT) service providers have historically struggled between the huge capital expenditure and long development cycles of building their own cloud versus the thin margins and limited flexibility of using public retailers such as Amazon Web Services (AWS). The emergence of wholesale cloud, and the technologies that make it possible, is revolutionizing how and by whom enterprise IT is delivered. Wholesale cloud is the game-changing third option between building your own (BYO) c...
May. 28, 2015 09:00 AM EDT Reads: 2,975
Shipping daily, injecting faults, and keeping an extremely high availability "without Ops"? Understand why NoOps does not mean no operations. Agile development methodologies require evolved operations to be successful. In his keynote at DevOps Summit, David Tesar, Microsoft Technical Evangelist on Microsoft Azure and DevOps, will discuss how Microsoft teams who have made huge progress with a DevOps transformation effectively utilize operations staff and how challenges were overcome. Regardless ...
May. 28, 2015 09:00 AM EDT Reads: 1,522
You often hear the two titles of "DevOps" and "Immutable Infrastructure" used independently. In his session at DevOps Summit, John Willis, Technical Evangelist for Docker, will cover the union between the two topics and why this is important. He will cover an overview of Immutable Infrastructure then show how an Immutable Continuous Delivery pipeline can be applied as a best practice for "DevOps." He will end the session with some interesting case study examples.
May. 28, 2015 09:00 AM EDT Reads: 1,715
SYS-CON Media named Andi Mann editor of DevOps Journal. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Andi Mann, Vice President, Strategic Solutions, at CA Technologies, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, communicator, and thought lea...
May. 28, 2015 09:00 AM EDT Reads: 1,419
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
May. 28, 2015 09:00 AM EDT Reads: 2,471
Even though it’s now Microservices Journal, long-time fans of SOA World Magazine can take comfort in the fact that the URL – soa.sys-con.com – remains unchanged. And that’s no mistake, as microservices are really nothing more than a new and improved take on the Service-Oriented Architecture (SOA) best practices we struggled to hammer out over the last decade. Skeptics, however, might say that this change is nothing more than an exercise in buzzword-hopping. SOA is passé, and now that people are ...
May. 28, 2015 09:00 AM EDT Reads: 3,510