Jones Media extends consent date, tender

New York, March 23 - Jones Media Networks Ltd. said that it and its wholly owned subsidiary JPN Inc. have extended the consent deadline in their tender offer for up to $65 million of Jones Media's $100 million principal amount of 11¾% senior secured notes due 2005.

The solicitation of consents to amend the note indenture will now end at 5 p.m. ET on April 6 instead of 5 p.m. ET on March 23. It was originally due to end on March 15.

The tender offer will now expire at 5 p.m. ET on April 13 instead of April 1.

All other terms remain the same.

Jones Media announced the offer on March 4.

Under the tender, Jones Media is offering to pay $1,010 per $1,000 principal amount for the notes plus accrued interest up to but not including the payment date.

Holders who tender by the consent deadline will also receive a consent payment of $10 per $1,000 principal amount.

At the closing of the offer, an affiliate of Jones Media that owns the remaining $35 million of notes has agreed to exchange them for new debt and preferred stock.

Conditions to the offer include receipt of consents from holders of at least a majority of the notes, the tender of at least $60 million of notes, completion of the exchange with the affiliate and completion of financing.

Jones Media is an Englewood, Colo., radio and cable television operator.

Deutsche Bank Securities Inc. is the dealer manager (contact Alexandra Barth at 212 250-5655). Citigate Financial Intelligence is the information agent (877 746-3583).

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