739708--3/16/2010--CLEAR_CHANNEL_COMMUNICATIONS

related topics

{acquisition, growth, future}

{capital, credit, financial}

{debt, indebtedness, cash}

{condition, economic, financial}

{product, market, service}

{regulation, government, change}

{stock, price, operating}

{operation, international, foreign}

{customer, product, revenue}

{operation, natural, condition}

{product, liability, claim}

{cost, regulation, environmental}

{personnel, key, retain}

We may be adversely affected by a general deterioration in economic conditions Our restructuring program may not be entirely successful If we need additional cash to fund our working capital, debt service, capital expenditures or other funding requirements, we may not be able to access the credit markets Downgrades in our credit ratings and/or macroeconomic conditions may adversely affect our borrowing costs, limit our financing options, reduce our flexibility under future financings and adversely affect our liquidity Our financial performance may be adversely affected by certain variables which are not in our control We face intense competition in the broadcasting and outdoor advertising industries Our business is dependent upon the performance of on-air talent and program hosts, as well as our management team and other key employees Capital requirements necessary to implement strategic initiatives could pose risks New technologies may affect our broadcasting operations Extensive current government regulation, and future regulation, may limit our broadcasting operations or adversely affect our business and financial results Environmental, health, safety and land use laws and regulations may limit or restrict some of our operations Government regulation of outdoor advertising may restrict our outdoor advertising operations Additional restrictions on outdoor advertising of tobacco, alcohol and other products may further restrict the categories of clients that can advertise using our products Doing business in foreign countries creates certain risks not found in doing business in the United States The success of our street furniture and transit products is dependent on our obtaining key municipal concessions, which we may not be able to obtain on favorable terms The lack of availability of potential acquisitions at reasonable prices could harm our growth strategy Future transactions could pose risks We may be adversely affected by the occurrence of extraordinary events, such as terrorist attacks Significant equity investors control us and may have conflicts of interest with us in the future We have a large amount of indebtedness The documents governing our indebtedness contain restrictions that limit our flexibility in operating our business Our failure to comply with the covenants in our material financing agreements could be an event of default and could accelerate the payment obligations and, in some cases, could affect other obligations with cross-default and cross-acceleration provisions

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739708--3/16/2010--CLEAR_CHANNEL_COMMUNICATIONS_INC