Global Eagle Receives Court Approval for Sale

LOS ANGELES, Oct. 15, 2020 (GLOBE NEWSWIRE) — Global Eagle Entertainment Inc. (“Global Eagle” or the “Company”), a leading provider of media, content, connectivity and data analytics to mobility end-markets across air, sea and land, today announced that the U.S. Bankruptcy Court for the District of Delaware has approved the sale of substantially all of the Company’s assets to a group comprising the Company’s first-lien investors (the “Investor Group”). As a result of the sale, Global Eagle will reduce its total debt by approximately $475 million and obtain significant additional liquidity, positioning it to continue driving long-term innovation and growth.

As previously announced, the Investor Group comprises Apollo Global Management, Inc., Eaton Vance Management, Arbour Lane Capital Management, L.P., Mudrick Capital Management, Sound Point Capital Management, Carlyle Group, or one or more of their respective affiliates, and certain funds and accounts under management by BlackRock Financial Management, Inc., among others.

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