AMFM Operating Inc.

AMFM Operating Incorporated. The Group's principal activity is Radio Broadcasting and Media representations. The Group operates in two operating segments: Radio Broadcasting and Media representation. At 31-Dec-2003, the Group sells airtime to 530 radio stations in 127 markets in the United States. The new media segment is operated through Katz Media Group Inc, a full-service media representation firm that sells national spot advertising time for its clients in the radio and television industries throughout the United States. The Group's portfolio of stations includes broadcasts advertising and syndicated programming shows to a national audience. Katz represents over 2,700 Radio Stations and 390 Television Stations. Radio Broadcasting accounted for 90% of 2003 gross revenues and Media Representation, 10%