{"id":790857,"date":"2024-11-26T09:44:00","date_gmt":"2024-11-26T14:44:00","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/mediaco-completes-full-repayment-of-7-3-million-convertible-promissory-note\/"},"modified":"2024-11-26T09:44:00","modified_gmt":"2024-11-26T14:44:00","slug":"mediaco-completes-full-repayment-of-7-3-million-convertible-promissory-note","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/mediaco-completes-full-repayment-of-7-3-million-convertible-promissory-note\/","title":{"rendered":"MediaCo Completes Full Repayment of $7.3 Million Convertible Promissory Note"},"content":{"rendered":"

<\/p>\n

MediaCo Completes Full Repayment of $7.3 Million Convertible Promissory Note<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–MediaCo Holding Inc.<\/b> (Nasdaq: MDIA) (\u201cMediaCo\u201d), a leading multicultural media company, announced today that it has fully repaid in cash the $7.3 million convertible promissory note (the \u201cConvertible Note\u201d) held by Emmis Communications Corporation. In connection with the satisfaction of the Note, the representatives of Emmis on MediaCo\u2019s Board of Directors have resigned from the Board, effective immediately.<\/p>\n

\nThis repayment reflects MediaCo\u2019s focus on strengthening its balance sheet. \u201cWe are pleased to take this step forward,\u201d said Albert Rodriguez, interim Chief Executive Officer and President of MediaCo. \u201cThis eliminates our only near-term maturity and positions us to continue our expanding mission to reach diverse audiences and drive growth for the future.\u201d<\/p>\n

\nMediaCo was formed through the recent merger between two iconic New York radio stations, WBLS and Hot97 and the Estrella Media network. The combination enjoys ownership\/management over significant broadcasting assets including:<\/p>\n

\nTwo FM radio stations and a low power TV station in New York; a full power TV station and a cluster of four FM radio stations in Los Angeles; a low power TV station in Chicago; a cluster of three FM radio stations in Dallas; a full power TV station in Houston and cluster of three FM stations in Houston; a full power TV station in Denver; and a full power TV station in Miami.<\/p>\n

\nMediaCo also enjoys significant content assets, namely the Estrella Television Network<\/i> with titles such as Tengo Talento Mucho Talento<\/i> and Rica Famosa Latina<\/i> with over 20,000 hours of original library and 24\/7 Spanish-language news with distribution on broadcast, pay television and multiple FAST channels. In radio, the Company owns iconic R&B station WBLS<\/i> and the \u2018Home of Hip-Hop\u201d Hot97<\/i> and in Spanish language, Que Buena<\/i> led by talent such as Funkmaster Flex <\/i>and Don Cheto<\/i>, respectively. The company also owns multiple studio assets, has a long heritage of successfully hosting music festivals and concerts, and operates its own network sales office.<\/p>\n

\nOur website is https:\/\/mediacoholding.com\/<\/a><\/p>\n

\nForward-Looking Statements<\/p>\n

\nThese statements reflect management\u2019s current expectations regarding future events and operating performance and speak only as of the date of this communication. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20241126860163\/en\/<\/a><\/span><\/p>\n

\nFor press inquiries: press@mediacoholding.com<\/a><\/p>\n

KEYWORDS:<\/b> New York United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Entertainment General Entertainment TV and Radio Film & Motion Pictures Online Music<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

MediaCo Completes Full Repayment of $7.3 Million Convertible Promissory Note NEW YORK–(BUSINESS WIRE)–MediaCo Holding Inc. (Nasdaq: MDIA) (\u201cMediaCo\u201d), a leading multicultural media company, announced today that it has fully repaid in cash the $7.3 million convertible promissory note (the \u201cConvertible Note\u201d) held by Emmis Communications Corporation. In connection with the satisfaction of the Note, the representatives of Emmis on MediaCo\u2019s Board of Directors have resigned from the Board, effective immediately. This repayment reflects MediaCo\u2019s focus on strengthening its balance sheet. \u201cWe are pleased to take this step forward,\u201d said Albert Rodriguez, interim Chief Executive Officer and President of MediaCo. \u201cThis eliminates our only near-term maturity and positions us to continue our expanding mission to reach diverse audiences and drive growth … <\/p>\n

Continue reading “MediaCo Completes Full Repayment of $7.3 Million Convertible Promissory Note”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-790857","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nMediaCo Completes Full Repayment of $7.3 Million Convertible Promissory Note - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mediaco-completes-full-repayment-of-7-3-million-convertible-promissory-note\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MediaCo Completes Full Repayment of $7.3 Million Convertible Promissory Note - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MediaCo Completes Full Repayment of $7.3 Million Convertible Promissory Note NEW YORK–(BUSINESS WIRE)–MediaCo Holding Inc. (Nasdaq: MDIA) (\u201cMediaCo\u201d), a leading multicultural media company, announced today that it has fully repaid in cash the $7.3 million convertible promissory note (the \u201cConvertible Note\u201d) held by Emmis Communications Corporation. In connection with the satisfaction of the Note, the representatives of Emmis on MediaCo\u2019s Board of Directors have resigned from the Board, effective immediately. This repayment reflects MediaCo\u2019s focus on strengthening its balance sheet. \u201cWe are pleased to take this step forward,\u201d said Albert Rodriguez, interim Chief Executive Officer and President of MediaCo. \u201cThis eliminates our only near-term maturity and positions us to continue our expanding mission to reach diverse audiences and drive growth … Continue reading "MediaCo Completes Full Repayment of $7.3 Million Convertible Promissory Note"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/mediaco-completes-full-repayment-of-7-3-million-convertible-promissory-note\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-26T14:44:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20241126860163r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mediaco-completes-full-repayment-of-7-3-million-convertible-promissory-note\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mediaco-completes-full-repayment-of-7-3-million-convertible-promissory-note\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"MediaCo Completes Full Repayment of $7.3 Million Convertible Promissory Note\",\"datePublished\":\"2024-11-26T14:44:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mediaco-completes-full-repayment-of-7-3-million-convertible-promissory-note\\\/\"},\"wordCount\":508,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mediaco-completes-full-repayment-of-7-3-million-convertible-promissory-note\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20241126860163r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mediaco-completes-full-repayment-of-7-3-million-convertible-promissory-note\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mediaco-completes-full-repayment-of-7-3-million-convertible-promissory-note\\\/\",\"name\":\"MediaCo Completes Full Repayment of $7.3 Million Convertible Promissory Note - 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