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LBI Media Holdings, Inc. And LBI Media, Inc. Announce Launch Of Exchange Offer

BURBANK, Calif., Aug. 28, 2013 /PRNewswire/ -- LBI Media Holdings, Inc. ("LBI Media Holdings") and LBI Media, Inc., a wholly owned subsidiary of LBI Media Holdings, Inc. ("LBI Media" and, together with LBI Holdings, the "Issuers"), announced today that the Issuers have commenced an exchange offer for any and all of LBI Media Holdings' outstanding 11% Senior Discount Notes due 2013 (the "Old Notes"). 

Holders of approximately 46% of the outstanding principal amount of the Old Notes not held by the Issuers or their respective affiliates have agreed, subject to certain terms and conditions contained in an agreement between the parties, to participate in the exchange offer. 

The exchange offer will expire at 12:00 a.m. New York City time, on September 26, 2013, unless extended by the Issuers. Valid tenders of the Old Notes must be made before the exchange offer expires.

This announcement does not constitute an offer to purchase or a solicitation of an offer to sell securities. The exchange offer will be made only pursuant to a confidential offering memorandum and the related letter of transmittal and only to such persons and in such jurisdictions as is permitted under applicable law.

If you are a holder of Old Notes, or a representative acting on behalf of such holder, you may establish your eligibility to receive the documents governing the exchange offer, including the confidential offering memorandum and transmittal materials for making tenders, by visiting the website set up for this purpose at http://www.dfking.com/lbi. Once you have established such eligibility, you may also request copies of the documents governing the exchange offer by sending an email to lbi@dfking.com or calling D.F. King & Co., Inc. at (212) 269-5550.

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 include, but are not limited to, statements related to the exchange offer. These forward-looking statements reflect the Issuers' current views with respect to future events and are based on assumptions and are subject to risks and uncertainties. The Issuers 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.

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