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JACOR COMMUNICATIONS, INC. ANNOUNCES EXTENSION OF DEBT MATURITIES

 JACOR COMMUNICATIONS, INC. ANNOUNCES EXTENSION OF DEBT MATURITIES
 CINCINNATI, Aug. 12 /PRNewswire/ -- Jacor Communications, Inc. (NASDAQ: JCOR) announced on Aug. 11 that the maturity date on a $4 million note of one of its subsidiaries held by the Zell/Chilmark Fund, L.P. was extended on Aug. 10 to Aug. 26, 1992. The maturity date of much of the company's debt is currently tied to the maturity of the note held by Zell/Chilmark. With the extension of this note, the maturity date on $115.7 million of the company's senior debt has been extended until Aug. 25, 1992. The maturity date on approximately $20 million of subordinated debt has been extended to Aug. 26, 1992.
 The company had sought an extension to the end of January 1993; however, Zell/Chilmark considered a two-week extension appropriate at this time in order to monitor progress of the company's ongoing discussions with its lenders and other creditors for a restructuring of the company's senior and subordinated debt and other claims and interests.
 As previously reported, the company has been in default of certain obligations under its bank credit agreement. This permits the senior lenders
to call the senior debt despite the extension of its maturity date. The senior lenders have chosen not to do so and have allowed the company to remain in violation of the credit agreement. There can be no assurance that the company will be successful in its debt restructuring efforts. If unsuccessful, the company would be subject to the foreclosure rights of its existing creditors.
 Jacor Communications, Inc., headquartered in Cincinnati, currently owns 11 radio stations, a cable television system and the Georgia Network. The company's stations are located in Atlanta, Cincinnati, Denver, Jacksonville, Knoxville and Tampa.
 -0- 8/12/92
 /CONTACT: R. Christopher Weber of Jacor Communications, Inc., 513-621-1300/
 (JCOR) CO: Jacor Communications, Inc. ST: Ohio IN: ENT SU:


KK -- CL009 -- 9343 08/12/92 11:20 EDT -- NY032 -- 9343 08/12/92 10:51 EDT
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Publication:PR Newswire
Date:Aug 12, 1992
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