Clear Channel Outdoor Holdings Inc CCO
Q2 2011 Earnings Call Transcript

Transcript Call Date 08/03/2011

Operator: Ladies and gentlemen, thank you for standing by, and welcome to the Clear Channel Second Quarter Earnings Call. For the conference, all the participants are in a listen-only mode. There will be an opportunity for your questions. As a reminder, today’s call is being recorded.

With that being said, I’d turn the conference over the Head of Investor Relations, Mr. Randy Palmer. Please go ahead, Sir.

Randy Palmer - Director IR: Thank you for joining us for our second quarter 2011 earnings call. Joining me today for the call are Tom Casey, Executive Vice President and Chief Financial Officer; and Brian Coleman, Senior Vice President and Treasurer.

On today's call, Tom will provide an overview of the second quarter financial and operating performances of CC Media Holdings, Clear Channel Communications, and Clear Channel Outdoor Holdings. For purposes of this call, when we describe the financial and operating performance of CC Media Holdings, we are also describing the performance of its subsidiary Clear Channel Communications. After Tom's comments, we will open up the lines for questions.

Before we begin, I would like to remind everyone that this conference call may include forward-looking statements that involve uncertainties and risks. There can be no assurance that the management's expectations, beliefs and projections will result or be achieved or that actual results will not differ from expectations. Please see our Annual Reports on Form 10-K and our quarterly reports on Form 10-Q filed with Securities and Exchange Commission for a discussion of important factors that could impact our actual results.

Pacing data information may be mentioned during this call. For those not familiar with pacing data, it reflects revenue spoke at a specific date versus a comparable date in the prior period and may or may not reflect the actual revenue growth at the end of the period.

The Company's revenue pacing information includes an adjustment to prior periods to include all acquisitions and exclude all divestitures in both periods presented for comparative purposes. It also excludes the effects of foreign exchange movements.

During today’s call, we will provide certain performance measures that do not conform to generally accepted accounting principles. We've provided schedules that reconcile these non-GAAP measures with our reported results on a GAAP basis as part of our earnings press releases, which can be found on the Investor section of our websites.

A webcast of this call and the earnings press releases that were issued today can be found on the Investor section of our websites at, or A replay of this conference call will be available for a period of 30 days.

With that, I will now turn the call over to Tom Casey.

Thomas W. Casey - CFO and EVP: Thank you, Randy, and good morning everyone. My comments today will be focused on three areas; our review of CC Media Holdings and Radio results, then review Clear Channel Outdoor Holdings including the Americas and International results, and finally, I'll review our capital spending and liquidity profile.

Read our Earnings Call Transcript disclaimer.
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