Exhibit 99.1
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE SOUTHERN DISTRICT OF TEXAS
HOUSTON DIVISION
Case Name: | iHeartMedia, Inc. | Petition Date: March 14, 2018 | ||||
Case Number: | 18-31274 (MI) |
Chapter 11 Post-Confirmation Report
for Period Ending: June 30, 2019
1. | Quarterly or |
2. | Summary of Disbursements*: | |||||||||||||
A. Disbursements made under the plan (itemize on page 3) | $ | 140,862,269 | ||||||||||||
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B. Disbursements not under the plan | $ | 915,684,556 | ||||||||||||
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C. Total Disbursements | $ | 1,056,546,824 | ||||||||||||
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D. Total Disbursements Subject to U.S. Trustee Fees** | $ | 818,447,772 | ||||||||||||
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* All disbursements made by the reorganized Debtor, under the plan or otherwise, must be accounted for and reported herein for the purpose of calculating the quarterly Fees. |
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** Includes disbursements made by all Debtors through June 20, 2019 and disbursments made by iHeartMedia, Inc., iHeartCommunications, Inc., and Katz Media Group, Inc. from June 21, 2019 - June 30, 2019. |
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3. | Has the order confirming plan become final? Yes | |||||||||||||
4. | Are Plan payments being made as required under the Plan? Yes | |||||||||||||
5. | If “No,” what Plan payments have not been made and why? | |||||||||||||
Please explain: |
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6. | If plan payments have not yet begun, when will the first plan payment be made? |
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7. | What date did the reorganized debtor or successor of the debtor under the plan assume the business or management of the |
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property under the plan? | 5/1/2019 | |||||||||||||
8. | Please describe any factors which may materially affect your ability to obtain a final decree at this time. |
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9. | Complete the form for Plan Disbursements attached. |
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10. | Consummation of Plan:
a. If this is a final report, has an application for Final Decree been submitted? |
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Date application was submitted | 5/30/2019 | |||||||||||||
No Date application will be submitted | ||||||||||||||
I CERTIFY UNDER PENALTY OF PERJURY THAT THE ABOVE INFORMAITON IS TRUE AND CORRECT TO THE BEST OF MY KNOWLEDGE. |
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Signed: | /s/ Scott D. Hamilton | Date: | 8/19/2019 | |||||
Scott D. Hamilton | ||||||||
(Print Name) |
Note:
1) | This is a final report for all Debtors other than iHeartMedia Inc., iHeartCommunications, Inc., and Katz Media Group, Inc., for which it is only a quarterly report. Quarterly reports for these three Debtors will continue to be filed until cases are closed. |
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE SOUTHERN DISTRICT OF TEXAS
HOUSTON DIVISION
Case Name: | iHeartMedia, Inc. | Petition Date: March 14, 2018 | ||||
Case Number: | 18-31274 (MI) |
Cash Receipts and Disbursements for the Period Ending June 30, 2019
Total | ||||||||||||
Book Cash Receipts and Disbursements (USD $ millions) | Q1 2019 | Q2 2019(1) | Period | |||||||||
Receipts | ||||||||||||
Net Operating Receipts | $ | 905.3 | $ | 867.0 | $ | 1,772.3 | ||||||
Disbursements | ||||||||||||
Rent(Non-Site Leases) | (42.2 | ) | (39.8 | ) | (82.0 | ) | ||||||
Payroll | (193.4 | ) | (194.9 | ) | (388.3 | ) | ||||||
Payroll Tax | (107.9 | ) | (102.9 | ) | (210.8 | ) | ||||||
Benefits | (66.8 | ) | (63.9 | ) | (130.8 | ) | ||||||
Utilities/Telecom | (11.1 | ) | (16.3 | ) | (27.4 | ) | ||||||
General AP | (328.7 | ) | (331.4 | ) | (660.1 | ) | ||||||
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Total Operating Disbursements | (750.1 | ) | (749.3 | ) | (1,499.4 | ) | ||||||
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Operating Cash Flow | 155.2 | 117.7 | 272.9 | |||||||||
Debt Paydown | — | — | — | |||||||||
Equity Raise | — | 59.1 | 59.1 | |||||||||
ABL Draw | — | — | — | |||||||||
Interest | (1.1 | ) | (1.0 | ) | (2.1 | ) | ||||||
Interest Income | — | — | — | |||||||||
Capex | (19.4 | ) | (19.7 | ) | (39.1 | ) | ||||||
Asset Sales/(Purchases) | — | (0.2 | ) | (0.2 | ) | |||||||
OtherNon-Operating Cash Flow | — | 2.4 | 2.4 | |||||||||
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Cash Flow Before Intercompany | 134.7 | 158.3 | 293.0 | |||||||||
Intercompany Transfer from / (to)Non-Filing Entities | (51.7 | ) | 8.5 | (43.2 | ) | |||||||
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Cash Flow Before Restructuring Activity | 83.0 | 166.8 | 249.8 | |||||||||
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Restructuring Activities | ||||||||||||
Restructuring Expenses | (28.4 | ) | (145.5 | ) | (173.8 | ) | ||||||
Plan Disbursements | — | (140.9 | ) | (140.9 | ) | |||||||
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Total Cash Flow | $ | 54.7 | $ | (119.5 | ) | $ | (64.9 | ) | ||||
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Beginning Cash | $ | 178.9 | $ | 233.6 | $ | 178.9 | ||||||
Total Cash Flow | 54.7 | (119.5 | ) | (64.9 | ) | |||||||
Change in Restricted Cash | — | 3.4 | 3.4 | |||||||||
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Ending Cash | $ | 233.6 | $ | 117.5 | $ | 117.5 |
Notes:
1) | Includes cash activity for all Debtors throughout the period |
Cash Detail | Page 2 of 37 |