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iHeartCommunications, Inc. – ‘10-K’ for 12/31/14 – ‘EX-101.INS’

On:  Thursday, 2/19/15, at 7:19am ET   ·   For:  12/31/14   ·   Accession #:  1400891-15-4   ·   File #:  1-09645

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/19/15  iHeartCommunications, Inc.        10-K       12/31/14   98:17M                                    iHeartMedia, Inc.

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.37M 
 2: EX-31       Certification of Chief Executive Officer Pursuant   HTML     33K 
                to Section 302                                                   
 3: EX-31       Certification of Chief Financial Officer Pursuant   HTML     33K 
                to Section 302                                                   
 4: EX-32       Certification of Chief Executive Officer Pursuant   HTML     29K 
                to Section 906                                                   
 5: EX-32       Certification of Chief Financial Officer Pursuant   HTML     29K 
                to Section 906                                                   
67: R1          Document and Entity Information                     HTML     59K 
54: R2          Consolidated Balance Sheets                         HTML    149K 
65: R3          Consolidated Balance Sheets (Parenthetical)         HTML     43K 
70: R4          Consolidated Statements Of Comprehensive Loss       HTML    138K 
89: R5          Consolidated Statement of Changes in Member's       HTML     91K 
                Deficit                                                          
56: R6          Consolidated Statements Of Cash Flows               HTML    180K 
64: R7          Summary of Significant Accounting Policies          HTML     94K 
48: R8          Property, Plant and Equipment, Intangible Assets    HTML    124K 
                and Goodwill                                                     
38: R9          Investments                                         HTML     61K 
90: R10         Asset Retirement Obligation                         HTML     40K 
72: R11         Long-Term Debt                                      HTML    183K 
71: R12         Fair Value Measurements                             HTML     59K 
77: R13         Commitments and Contingencies                       HTML     64K 
78: R14         Guarantees                                          HTML     31K 
75: R15         Income Taxes                                        HTML    130K 
79: R16         Member's Interest                                   HTML    161K 
66: R17         Employee Stock and Savings Plans                    HTML     37K 
68: R18         Other Information                                   HTML     92K 
74: R19         Segment Data                                        HTML    157K 
98: R20         Quarterly Results of Operations (Unaudited)         HTML     85K 
85: R21         Certain Relationships and Related Party             HTML     41K 
                Transactions                                                     
60: R22         Schedule II - Valuation and Qualifying Accounts     HTML     64K 
73: R23         Summary of Significant Accounting Policies          HTML    162K 
                (Policies)                                                       
62: R24         Summary of Significant Accounting Policies          HTML     32K 
                (Tables)                                                         
28: R25         Property, Plant and Equipment, Intangible Assets    HTML     93K 
                and Goodwill (Tables)                                            
86: R26         Investments (Tables)                                HTML     53K 
94: R27         Asset Retirement Obligation (Tables)                HTML     36K 
43: R28         Long-Term Debt (Tables)                             HTML    112K 
42: R29         Fair Value Measurements (Tables)                    HTML     52K 
46: R30         Commitments and Contingencies (Tables)              HTML     45K 
47: R31         Income Taxes (Tables)                               HTML    105K 
49: R32         Member's Interest (Tables)                          HTML    141K 
20: R33         Other Information (Tables)                          HTML     98K 
83: R34         Segment Data (Tables)                               HTML    143K 
58: R35         Quarterly Results of Operations (Unaudited)         HTML     83K 
                (Tables)                                                         
61: R36         Schedule II - Valuation and Qualifying Accounts     HTML     58K 
                (Tables)                                                         
33: R37         Summary of Significant Accounting Policies          HTML     54K 
                (Narrative) (Detail)                                             
97: R38         Barter and Trade Revenues and Expenses from         HTML     33K 
                Continuing Operations (Detail)                                   
12: R39         Property, Plant And Equipment, Intangible Assets    HTML    132K 
                And Goodwill (Narrative) (Detail)                                
51: R40         Property, Plant And Equipment, Intangible Assets    HTML     54K 
                And Goodwill (Schedule Of Property, Plant And                    
                Equipment) (Detail)                                              
88: R41         Property, Plant And Equipment, Intangible Assets    HTML     61K 
                And Goodwill (Schedule Of Definite-Lived                         
                Intangible Assets) (Detail)                                      
31: R42         Property, Plant And Equipment, Intangible Assets    HTML     42K 
                And Goodwill (Schedule Of Future Amortization                    
                Expenses) (Detail)                                               
41: R43         Property, Plant And Equipment, Intangible Assets    HTML     83K 
                And Goodwill (Schedule Of Changes In Carrying                    
                Amount Of Goodwill) (Detail)                                     
45: R44         Investments (Narrative) (Detail)                    HTML     56K 
55: R45         Investments (Schedule Of Investment In              HTML     98K 
                Nonconsolidated affiliates) (Detail)                             
19: R46         Asset Retirement Obligation (Narrative) (Detail)    HTML     30K 
37: R47         Asset Retirement Obligation (Schedule Of ARO        HTML     45K 
                Activity) (Detail)                                               
14: R48         Long-Term Debt (Narrative) (Detail)                 HTML    100K 
87: R49         Long-Term Debt (Schedule Of Long-Term Debt)         HTML     87K 
                (Detail)                                                         
29: R50         Long-Term Debt (Sr Secured Credit Facilities)       HTML     46K 
                (Detail)                                                         
84: R51         Long-Term Debt (Priority Guarantee) (Detail)        HTML     56K 
34: R52         Long-Term Debt (iHeart Comm) (Detail)               HTML     56K 
52: R53         Long-Term Debt (Subsidiary Senior Notes) (Detail)   HTML     53K 
13: R54         Long-Term Debt (Schedule of Debt Maturities)        HTML     49K 
                (Detail)                                                         
17: R55         Fair Value Measurements (Schedule Of Available For  HTML     54K 
                Sale Securities) (Detail)                                        
44: R56         Fair Value Measurements (Narrative) (Detail)        HTML     58K 
23: R57         Fair Value Measurements (Schedule Of Accumulated    HTML     34K 
                Other Comprehensive Loss - Interest Rate Swaps)                  
                (Detail)                                                         
91: R58         Commitments, Contingencies And Guarantees           HTML     43K 
                (Narrative) (Detail)                                             
57: R59         Commitments And Contingencies (Schedule Of Future   HTML     66K 
                Commitments) (Detail)                                            
76: R60         Guarantees (Narrative) (Detail)                     HTML     39K 
36: R61         Income Taxes (Narrative) (Detail)                   HTML    101K 
39: R62         Income Taxes (Schedule Of Provision For Income Tax  HTML     75K 
                Benefit (Expense) (Detail)                                       
82: R63         Income Taxes (Schedule Of Deferred Tax Liabilities  HTML     80K 
                And Assets) (Detail)                                             
80: R64         Income Taxes (Schedule Of Computation From Income   HTML     95K 
                Tax At Federal Rate To Income Tax Benefit                        
                (Expense) (Detail)                                               
59: R65         Income Taxes (Schedule Of Unrecognized Tax          HTML     47K 
                Benefits) (Detail)                                               
81: R66         Member's Interest (Narrative) (Detail)              HTML     99K 
35: R67         Member's Deficit And Comprehensive Loss (Schedule   HTML    110K 
                Of Changes In Equity) (Detail)                                   
63: R68         Member's Interest (Schedule Of Assumptions Used In  HTML     67K 
                Fair Value Calculation) (Detail)                                 
93: R69         Member's Interest (Schedule Of Stock Options        HTML    107K 
                Outstanding) (Detail)                                            
16: R70         Member's Interest (Schedule Of Unvested Options)    HTML     65K 
                (Detail)                                                         
27: R71         Member's Interest (Schedule Of Restricted Stock     HTML     65K 
                Awards) (Detail)                                                 
53: R72         Member's Interest (Share Based Compensation)        HTML     38K 
                (Detail)                                                         
22: R73         Employee Stock And Savings (Narrative) (Detail)     HTML     42K 
96: R74         Other Information (Schedule Of Other Income         HTML     47K 
                (Expense) (Detail)                                               
32: R75         Other Information (Schedule Of Accumulated Other    HTML     45K 
                Comprehensive Loss - Deferred Tax Liabilities)                   
                (Detail)                                                         
24: R76         Other Information (Schedule Of Other Current        HTML     47K 
                Assets) (Detail)                                                 
26: R77         Other Information (Schedule Of Other Assets)        HTML     60K 
                (Detail)                                                         
18: R78         Other Information (Schedule Of Other Long-Term      HTML     52K 
                Liabilities) (Detail)                                            
21: R79         Other Information (Schedule Of Accumulated Other    HTML     51K 
                Comprehensive Loss) (Detail)                                     
69: R80         Segment Data (Narrative) (Detail)                   HTML     50K 
25: R81         Segment Data (Schedule Of Operating Segment         HTML    240K 
                Results) (Detail)                                                
92: R82         Quarterly Results of Operations (Unaudited)         HTML    132K 
                (Schedule Of CY Quarterly Profit And Loss)                       
                (Detail)                                                         
50: R83         Certain Relationships And Related Party             HTML     58K 
                Transactions (Narrative) (Detail)                                
95: XML         IDEA XML File -- Filing Summary                      XML    161K 
15: EXCEL       IDEA Workbook of Financial Reports                  XLSX    259K 
40: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS   2.10M 
 6: EX-101.INS  XBRL Instance -- cik0000739708-20141231              XML   3.48M 
 8: EX-101.CAL  XBRL Calculations -- cik0000739708-20141231_cal      XML    350K 
 9: EX-101.DEF  XBRL Definitions -- cik0000739708-20141231_def       XML   1.77M 
10: EX-101.LAB  XBRL Labels -- cik0000739708-20141231_lab            XML   2.61M 
11: EX-101.PRE  XBRL Presentations -- cik0000739708-20141231_pre     XML   2.05M 
 7: EX-101.SCH  XBRL Schema -- cik0000739708-20141231                XSD    238K 
30: ZIP         XBRL Zipped Folder -- 0001400891-15-000004-xbrl      Zip    336K

‘EX-101.INS’   —   XBRL Instance — cik0000739708-20141231

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<us-gaap:DeferredTaxLiabilitiesUndistributedForeignEarnings id="ID_75" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-5"> 19800000 </us-gaap:DeferredTaxLiabilitiesUndistributedForeignEarnings>
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<us-gaap:OtherGeneralAndAdministrativeExpense id="ID_79" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 293207000 </us-gaap:OtherGeneralAndAdministrativeExpense>
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<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate id="ID_82" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember_us-gaap_RangeAxis_us-gaap_MinimumMember" unitRef="pure" decimals="2"> 0 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
<us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures id="ID_83" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 3091000 </us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures>
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<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Share-Based Compensation</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Under the fair value recognition provisions of ASC</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >718-10, share-based compensation cost is measured at the grant date based on the fair value of the award. For awards that vest based on service conditions, this cost is </font><font style='font-family:Times New Roman;font-size:10pt;' >recognized as expense on a straight-line basis over the vesting period. For awards that will vest based on market or performance conditions, this cost will be recognized when it becomes probable that the performance conditions will be satisfied. Determini</font><font style='font-family:Times New Roman;font-size:10pt;' >ng the fair value of share-based awards at the grant date requires assumptions and judgments about expected volatility and forfeiture rates, among other factors.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company does not have any equity incentive plans under which it grants stock awards to em</font><font style='font-family:Times New Roman;font-size:10pt;' >ployees. Employees of subsidiaries of the Company receive equity awards from Parent’s equity incentive plan or CCOH’s equity incentive plan</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div>
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<us-gaap:AvailableForSaleSecuritiesAmortizedCost id="ID_142" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 16638000 </us-gaap:AvailableForSaleSecuritiesAmortizedCost>
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<div><table style='border-collapse:collapse;' ><tr style='height:25.5pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The Company</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Noncontrolling </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interests</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Consolidated</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balances at January 1, 2014</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,942,166)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 245,531 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,696,635)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net income (loss)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (793,761)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 31,603 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (762,158)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Dividends and other payments to noncontrolling interests</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (40,027)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (40,027)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Purchase of additional noncontrolling interests</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (46,806)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,944)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (48,750)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency translation adjustments</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (101,980)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (19,898)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (121,878)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain on marketable securities</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 285 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 42 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 327 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other adjustments to comprehensive loss</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (10,214)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,224)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (11,438)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reclassifications</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,317 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,317 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,977 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,057 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,034 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balances at December 31, 2014</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(9,889,348)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >224,140 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(9,665,208)</font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:30pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The Company</font></td><td style='width:8.25pt;text-align:center;border-color:Black;min-width:8.25pt;' ></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Noncontrolling </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interests</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Consolidated</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balances at January 1, 2013</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(8,299,188)</font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 303,997 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(7,995,191)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net income (loss)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (606,883)</font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 23,366 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (583,517)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Dividends and other payments to noncontrolling interests</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (91,887)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (91,887)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency translation adjustments</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (29,755)</font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,246)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (33,001)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain on marketable securities</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,439 </font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 137 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,576 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain on cash flow derivatives</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 48,180 </font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 48,180 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other adjustments to comprehensive loss</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,932 </font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 800 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,732 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reclassifications</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (83,585)</font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (167)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (83,752)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,694 </font></td><td style='width:8.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,531 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 19,225 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balances at December 31, 2013</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,942,166)</font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 245,531 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,696,635)</font></td></tr></table></div>
</us-gaap:ComprehensiveIncomeNoteTextBlock>
<cik0000739708:ScheduleOfDeferredIncomeTaxAssetsAndLiabilitiesTableTextBlock id="ID_144" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='8' rowspan='1' style='width:199.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:199.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:justify;border-color:Black;min-width:329.25pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency translation adjustments and other</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,559 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (14,421)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,210 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain on marketable securities</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (11,010)</font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15,324 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain (loss) on cash flow derivatives</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 28,759 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 30,074 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total increase in deferred tax liabilities</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,559 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,328 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 48,608 </font></td></tr></table></div>
</cik0000739708:ScheduleOfDeferredIncomeTaxAssetsAndLiabilitiesTableTextBlock>
<us-gaap:IncomeLossFromEquityMethodInvestments id="ID_145" contextRef="FROM_Apr01_2013_TO_Jun30_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 5971000 </us-gaap:IncomeLossFromEquityMethodInvestments>
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment id="ID_146" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 65821000 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
<us-gaap:OperatingIncomeLoss id="ID_147" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_CorporateAndOtherMember" unitRef="USD" decimals="-3"> -338902000 </us-gaap:OperatingIncomeLoss>
<us-gaap:Revenues id="ID_148" contextRef="FROM_Jul01_2014_TO_Sep30_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 1630034000 </us-gaap:Revenues>
<us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization id="ID_149" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_cik0000739708_PermanentEasementsMember" unitRef="USD" decimals="-3"> 0 </us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization>
<us-gaap:AssetImpairmentCharges id="ID_150" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_CorporateAndOtherMember" unitRef="USD" decimals="-3"> 16970000 </us-gaap:AssetImpairmentCharges>
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment id="ID_151" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_IntersegmentEliminationMember" unitRef="USD" decimals="-3"> 0 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
<us-gaap:StockIssuedDuringPeriodValueOther id="ID_152" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -1259000 </us-gaap:StockIssuedDuringPeriodValueOther>
<us-gaap:DirectOperatingCosts id="ID_153" contextRef="FROM_Oct01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 674978000 </us-gaap:DirectOperatingCosts>
<cik0000739708:IncreaseDecreaseInEquityMethodInvestmentDueToCurrencyTranslation id="ID_154" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -37064000 </cik0000739708:IncreaseDecreaseInEquityMethodInvestmentDueToCurrencyTranslation>
<us-gaap:AvailableForSaleSecuritiesAmortizedCost id="ID_155" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_EligibleItemOrGroupForFairValueOptionAxis_us-gaap_AvailableforsaleSecuritiesMember" unitRef="USD" decimals="-3"> 369000 </us-gaap:AvailableForSaleSecuritiesAmortizedCost>
<us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit id="ID_156" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 8947000 </us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
<us-gaap:CurrentStateAndLocalTaxExpenseBenefit id="ID_157" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -1527000 </us-gaap:CurrentStateAndLocalTaxExpenseBenefit>
<us-gaap:ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock id="ID_158" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:130.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cumulative currency translation adjustment</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (291,520)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (188,920)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cumulative unrealized gain on securities</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,397 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,101 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cumulative other adjustments</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (18,467)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,254)</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total accumulated other comprehensive loss</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (308,590)</font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (196,073)</font></td></tr></table></div>
</us-gaap:ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock>
<us-gaap:DirectOperatingCosts id="ID_159" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 882785000 </us-gaap:DirectOperatingCosts>
<us-gaap:DirectOperatingCosts id="ID_160" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 1041274000 </us-gaap:DirectOperatingCosts>
<us-gaap:AssetImpairmentCharges id="ID_161" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 0 </us-gaap:AssetImpairmentCharges>
<dei:AmendmentFlag id="ID_162" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708"> false </dei:AmendmentFlag>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod id="ID_163" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_AwardTypeAxis_cik0000739708_CcohRestrictedStockMember" unitRef="shares" decimals="-3"> 1040000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
<us-gaap:DepreciationDepletionAndAmortization id="ID_164" contextRef="FROM_Jul01_2013_TO_Sep30_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 177330000 </us-gaap:DepreciationDepletionAndAmortization>
<us-gaap:CashAndCashEquivalentsAtCarryingValue id="ID_165" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 457024000 </us-gaap:CashAndCashEquivalentsAtCarryingValue>
<us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="ID_166" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 327000 </us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
<us-gaap:NetCashProvidedByUsedInInvestingActivities id="ID_167" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -133365000 </us-gaap:NetCashProvidedByUsedInInvestingActivities>
<us-gaap:GoodwillOtherChanges id="ID_168" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioMember" unitRef="USD" decimals="-3"> 1881000 </us-gaap:GoodwillOtherChanges>
<us-gaap:IncomeTaxReconciliationOtherReconcilingItems id="ID_169" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 3191000 </us-gaap:IncomeTaxReconciliationOtherReconcilingItems>
<us-gaap:AdvanceRent id="ID_170" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 120092000 </us-gaap:AdvanceRent>
<us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock id="ID_171" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:276pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:15.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font></sup></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font></sup></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected volatility</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >N/A</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >N/A</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >71% – 77%</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected life in years</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >N/A</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >N/A</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.3 – 6.5</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Risk-free interest rate</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >N/A</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >N/A</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0.97% – 1.55%</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Dividend yield</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >N/A</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >N/A</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0%</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1) </font></sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >No options were granted in 2013 and 2014</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:276pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected volatility</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >54% – 56%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >55% – 56%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >54% – 56%</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected life in years</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.3</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.3</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.3</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Risk-free interest rate</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.73% – 2.08%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.05% – 2.19%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0.92% – 1.48%</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Dividend yield</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0%</font></td></tr></table></div>
</us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock>
<us-gaap:ComprehensiveIncomeNetOfTax id="ID_172" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> -311720000 </us-gaap:ComprehensiveIncomeNetOfTax>
<us-gaap:ComprehensiveIncomeNetOfTax id="ID_173" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -649672000 </us-gaap:ComprehensiveIncomeNetOfTax>
<us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest id="ID_174" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -21080000 </us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest>
<us-gaap:GoodwillOtherChanges id="ID_175" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorMember" unitRef="USD" decimals="-3"> 0 </us-gaap:GoodwillOtherChanges>
<us-gaap:NotesAndLoansReceivableGrossNoncurrent id="ID_176" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 242000 </us-gaap:NotesAndLoansReceivableGrossNoncurrent>
<us-gaap:DepositsAssetsNoncurrent id="ID_177" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 27822000 </us-gaap:DepositsAssetsNoncurrent>
<us-gaap:EffectiveIncomeTaxRateReconciliationNondeductibleExpense id="ID_178" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="pure" decimals="2"> -0.01 </us-gaap:EffectiveIncomeTaxRateReconciliationNondeductibleExpense>
<us-gaap:ScheduleOfGoodwillTextBlock id="ID_179" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:39.75pt;' ><td colspan='2' rowspan='1' style='width:142.5pt;text-align:left;border-color:Black;min-width:142.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >iHM</font></td><td style='width:3.75pt;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Americas Outdoor Advertising</font></td><td style='width:3.75pt;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >International Outdoor Advertising</font></td><td style='width:3.75pt;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:3.75pt;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Consolidated</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:142.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:142.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance as of December 31, 2012</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,236,688 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 571,932 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 290,316 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 117,149 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,216,085 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Impairment</font></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (10,684)</font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (10,684)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Acquisitions</font></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 97 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 97 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Dispositions</font></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (456)</font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (456)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency</font></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (974)</font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (974)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,881)</font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,881)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:142.5pt;text-align:left;border-color:Black;min-width:142.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance as of December 31, 2013</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,234,807 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 571,932 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 278,202 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 117,246 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,202,187 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Acquisitions</font></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 17,900 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 299 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,199 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency</font></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (33,022)</font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (33,022)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 60 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 60 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:142.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:142.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance as of December 31, 2014</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,252,767 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 571,932 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 245,180 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 117,545 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,187,424 </font></td></tr></table></div>
</us-gaap:ScheduleOfGoodwillTextBlock>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod id="ID_180" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember" unitRef="shares" decimals="-3"> 627000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod>
<us-gaap:DeferredTaxLiabilitiesNoncurrent id="ID_181" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 1563888000 </us-gaap:DeferredTaxLiabilitiesNoncurrent>
<us-gaap:Assets id="ID_182" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 14040242000 </us-gaap:Assets>
<us-gaap:DeferredIncomeTaxExpenseBenefit id="ID_183" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> -304611000 </us-gaap:DeferredIncomeTaxExpenseBenefit>
<us-gaap:Revenues id="ID_184" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 3161503000 </us-gaap:Revenues>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate id="ID_185" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember_us-gaap_RangeAxis_us-gaap_MinimumMember" unitRef="pure" decimals="2"> 0 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum id="ID_186" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember_us-gaap_RangeAxis_us-gaap_MinimumMember" unitRef="pure" decimals="2"> 0.54 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum>
<us-gaap:GoodwillWrittenOffRelatedToSaleOfBusinessUnit id="ID_187" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 0 </us-gaap:GoodwillWrittenOffRelatedToSaleOfBusinessUnit>
<cik0000739708:ReplacementStockOptions id="ID_188" contextRef="AS_OF_Nov19_2012_Entity_0000739708_us-gaap_DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis_cik0000739708_Executive2008ExecutiveIncentivePlanMember" unitRef="shares" decimals="-5"> 1800000 </cik0000739708:ReplacementStockOptions>
<us-gaap:CompensationAndEmployeeBenefitPlansTextBlock id="ID_189" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;font-weight:bold;margin-left:0pt;' >NOTE 11 – EMPLOYEE STOCK AND SAVINGS PLANS</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > has various 401(k) savings and other plans for the purpose of providing retirement benefits for substantially all employees. Under these plans, an employee can make pre-tax contributions and </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > will match a portion of such an e</font><font style='font-family:Times New Roman;font-size:10pt;' >mployee’s contribution. </font><font style='font-family:Times New Roman;font-size:10pt;' > Employees vest in these </font><font style='font-family:Times New Roman;font-size:10pt;' >matching contributions based upon their years of service to </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' >. Contributions </font><font style='font-family:Times New Roman;font-size:10pt;' >of $</font><font style='font-family:Times New Roman;font-size:10pt;' >27.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million, </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >26.6</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million</font><font style='font-family:Times New Roman;font-size:10pt;' > and</font><font style='font-family:Times New Roman;font-size:10pt;' > $</font><font style='font-family:Times New Roman;font-size:10pt;' >29.5</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million to these plans for the years end</font><font style='font-family:Times New Roman;font-size:10pt;' >ed December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively, were expensed.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > offers a non-qualified deferred compensation plan for </font><font style='font-family:Times New Roman;font-size:10pt;' >a select group of management or </font><font style='font-family:Times New Roman;font-size:10pt;' >highly compensated </font><font style='font-family:Times New Roman;font-size:10pt;' >employees</font><font style='font-family:Times New Roman;font-size:10pt;' >, under which such </font><font style='font-family:Times New Roman;font-size:10pt;' >employees</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >were</font><font style='font-family:Times New Roman;font-size:10pt;' > able to make a</font><font style='font-family:Times New Roman;font-size:10pt;' >n annual election to defer up to </font><font style='font-family:Times New Roman;font-size:10pt;' >50</font><font style='font-family:Times New Roman;font-size:10pt;' >% of their annual salary and up to </font><font style='font-family:Times New Roman;font-size:10pt;' >80</font><font style='font-family:Times New Roman;font-size:10pt;' >% of their bonus before taxes. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > suspended all salary and bonus deferrals and company matching contributions to the deferred compensation plan on January </font><font style='font-family:Times New Roman;font-size:10pt;' >1, 2010. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > accounts for the plan in accordance with the provisions of ASC</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >710-10. Matching credits on amounts deferred may be made in </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > sole discretion and </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > retains o</font><font style='font-family:Times New Roman;font-size:10pt;' >wnership of all assets until distributed. Participants in the plan have the opportunity to allocate their deferrals and any </font><font style='font-family:Times New Roman;font-size:10pt;' >matching credits among different investment options, the performance of which is used to determine the amounts t</font><font style='font-family:Times New Roman;font-size:10pt;' >o be paid to participants under the plan. In accordance with the provisions of ASC</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >710-10, the assets and liabilities of the non-qualified deferred compensation plan are presented in “Other assets” and “Other long-term liabilities” in the accompanying con</font><font style='font-family:Times New Roman;font-size:10pt;' >solidated balance sheets, respectively. The asset and liability under the deferred compensation plan at December</font><font style='font-family:Times New Roman;font-size:10pt;' > 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > was </font><font style='font-family:Times New Roman;font-size:10pt;' >approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >11.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million recorded in “Other assets” and $</font><font style='font-family:Times New Roman;font-size:10pt;' >11.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million recorded in “Other long-term liabilities”,</font><font style='font-family:Times New Roman;font-size:10pt;' > respective</font><font style='font-family:Times New Roman;font-size:10pt;' >ly. The asset and liability under the deferred compensation plan at December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' > was approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >11.8</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million recorded in “Other assets” and $</font><font style='font-family:Times New Roman;font-size:10pt;' >1</font><font style='font-family:Times New Roman;font-size:10pt;' >1.8</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million recorded in “Other long-term liabilities”, respectively.</font></p></div>
</us-gaap:CompensationAndEmployeeBenefitPlansTextBlock>
<us-gaap:SellingGeneralAndAdministrativeExpense id="ID_190" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 336550000 </us-gaap:SellingGeneralAndAdministrativeExpense>
<us-gaap:OtherGeneralAndAdministrativeExpense id="ID_191" contextRef="FROM_Apr01_2014_TO_Jun30_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 82196000 </us-gaap:OtherGeneralAndAdministrativeExpense>
<us-gaap:OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent id="ID_192" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 3210000 </us-gaap:OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent>
<us-gaap:SellingGeneralAndAdministrativeExpense id="ID_193" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_IntersegmentEliminationMember" unitRef="USD" decimals="-3"> -53754000 </us-gaap:SellingGeneralAndAdministrativeExpense>
<us-gaap:AssetImpairmentCharges id="ID_194" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_IntersegmentEliminationMember" unitRef="USD" decimals="-3"> 0 </us-gaap:AssetImpairmentCharges>
<us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment id="ID_195" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_cik0000739708_TimesSquareOutdoorAdvertisingAssetsMember" unitRef="USD" decimals="-5"> 18700000 </us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment>
<us-gaap:ScheduleOfDebtTableTextBlock id="ID_196" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Senior Secured Credit Facilities</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,231,222 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,225,754 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Receivables Based Facility Due 2017</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 247,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Priority Guarantee Notes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,324,815 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,324,815 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Subsidiary Revolving Credit Facility Due 2018</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other Secured Subsidiary Debt</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 19,257 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 21,124 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Consolidated Secured Debt</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,575,294 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,818,693 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:364.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:364.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >10.75% Senior Cash Pay Notes Due 2016</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 94,304 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11.00%/11.75% Senior Toggle Notes Due 2016</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 127,941 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >14.0% Senior Notes Due 2021</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,661,697 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,404,202 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Legacy Notes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 667,900 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,436,455 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >10.0% Senior Notes Due 2018</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 730,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Subsidiary Senior Notes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,925,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,925,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other Subsidiary Debt</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,024 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Purchase accounting adjustments and original issue discount </font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (234,897)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (322,392)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,326,018 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,484,213 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Less: current portion</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,604 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 453,734 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total long-term debt</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,322,414 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,030,479 </font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Senior Secured Credit Facilities</font></td><td style='width:80.25pt;text-align:left;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:6.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:277.5pt;text-align:left;border-color:Black;min-width:277.5pt;' ></td><td style='width:80.25pt;text-align:left;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='6' rowspan='1' style='width:458.25pt;text-align:left;border-color:Black;min-width:458.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2014, the Company had senior secured credit facilities consisting of:</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:7.5pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:277.5pt;text-align:left;border-color:Black;min-width:277.5pt;' ></td><td style='width:80.25pt;text-align:left;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:80.25pt;text-align:left;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:277.5pt;text-align:left;border-color:Black;min-width:277.5pt;' ></td><td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Maturity Date</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term Loan B</font></td><td style='width:80.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1/29/2016</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 916,061 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,890,978 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term Loan C</font></td><td style='width:80.25pt;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1/29/2016</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15,161 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 34,776 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term Loan D</font></td><td style='width:80.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1/30/2019</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,000,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,000,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term Loan E</font></td><td style='width:80.25pt;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7/30/2019</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,300,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,300,000 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:277.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:277.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Senior Secured Credit Facilities</font></td><td style='width:80.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,231,222 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,225,754 </font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Priority Guarantee Notes</font></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:6.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='13' rowspan='1' style='width:543pt;text-align:left;border-color:Black;min-width:543pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2014, the Company had outstanding Priority Guarantee Notes consisting of:</font></td></tr><tr style='height:6.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Maturity Date</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Rate</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Payment Terms</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0% Priority Guarantee Notes due 2019</font></td><td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >12/15/2019</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually in arrears on June 15 and December 15 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,999,815 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,999,815 </font></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0% Priority Guarantee Notes due 2021</font></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/1/2021</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0%</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually in arrears on March 1 and September 1 of each year</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,750,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,750,000 </font></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11.25% Priority Guarantee Notes due 2021</font></td><td style='width:61.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/1/2021</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11.25%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually on March 1 and September 1 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 575,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 575,000 </font></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0% Priority Guarantee Notes due 2022</font></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9/15/2022</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0%</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually in arrears on March 15 and September 15 of each year</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,000,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td colspan='4' rowspan='1' style='width:227.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:227.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Priority Guarantee Notes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,324,815 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,324,815 </font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='3' rowspan='1' style='width:177pt;text-align:left;border-color:Black;min-width:177pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Legacy Notes</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:6.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:33pt;' ><td colspan='13' rowspan='1' style='width:543pt;text-align:left;border-color:Black;min-width:543pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2014, the Company had outstanding senior notes (net of $57.1 million aggregate principal amount held by a subsidary of the Company) consisting of:</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5.5% Senior Notes Due 2014</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 461,455 </font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4.9% Senior Notes Due 2015</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 250,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5.5% Senior Notes Due 2016</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 192,900 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 250,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.875% Senior Notes Due 2018</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 175,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 175,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.25% Senior Notes Due 2027</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 300,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 300,000 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td colspan='4' rowspan='1' style='width:227.25pt;text-align:left;border-color:Black;min-width:227.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Legacy Notes</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 667,900 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,436,455 </font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='3' rowspan='1' style='width:177pt;text-align:left;border-color:Black;min-width:177pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Subsidiary Senior Notes</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:4.5pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:26.25pt;' ><td colspan='13' rowspan='1' style='width:543pt;text-align:left;border-color:Black;min-width:543pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2014, the Company's subsidiary, Clear Channel Worldwide Holdings, Inc. ("CCWH") had outstanding notes consisting of:</font></td></tr><tr style='height:6pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Maturity Date</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Rate</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Payment Terms</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >CCWH Senior Notes:</font></td><td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:51pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.5% Series A Senior Notes Due 2022</font></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11/15/2022</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.5%</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable to the trustee weekly in arrears and to the noteholders on May 15 and November 15 of each year</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 735,750 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 735,750 </font></td></tr><tr style='height:51pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.5% Series B Senior Notes Due 2022</font></td><td style='width:61.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11/15/2022</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.5%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable to the trustee weekly in arrears and to the noteholders on May 15 and November 15 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,989,250 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,989,250 </font></td></tr><tr style='height:12.75pt;' ><td colspan='3' rowspan='1' style='width:177pt;text-align:left;border-color:Black;min-width:177pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >CCWH Senior Subordinated Notes:</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:54.75pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.625% Series A Senior Notes Due 2020</font></td><td style='width:61.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/15/2020</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.625%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable to the trustee weekly in arrears and to the noteholders on March 15 and September 15 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 275,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 275,000 </font></td></tr><tr style='height:56.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.625% Series B Senior Notes Due 2020</font></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/15/2020</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.625%</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable to the trustee weekly in arrears and to the noteholders on March 15 and September 15 of each year</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,925,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,925,000 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:100.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total CCWH Notes</font></td><td style='width:61.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,925,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,925,000 </font></td></tr></table></div>
</us-gaap:ScheduleOfDebtTableTextBlock>
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<us-gaap:DebtInstrumentInterestRateStatedPercentage id="ID_198" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_SeniorNotesDue2027Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_IheartcommunicationsLegacyNotesMember" unitRef="pure" decimals="5"> 0.0725 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 id="ID_199" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_LineOfCreditFacilityAxis_cik0000739708_ReceivablesBasedFacility1Member_us-gaap_RangeAxis_us-gaap_MaximumMember_us-gaap_VariableRateAxis_us-gaap_EurodollarMember" unitRef="pure" decimals="4"> 0.02 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 id="ID_200" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_LineOfCreditFacilityAxis_cik0000739708_ReceivablesBasedFacility1Member_us-gaap_RangeAxis_us-gaap_MinimumMember_us-gaap_VariableRateAxis_us-gaap_BaseRateMember" unitRef="pure" decimals="4"> 0.005 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
<us-gaap:Revenues id="ID_201" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_ConsolidationItemsAxis_us-gaap_OperatingSegmentsMember_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 1175000 </us-gaap:Revenues>
<us-gaap:AccruedLiabilitiesCurrent id="ID_202" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 807210000 </us-gaap:AccruedLiabilitiesCurrent>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="ID_203" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD_Per_Share" decimals="2"> 2.68 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
<us-gaap:Assets id="ID_204" contextRef="AS_OF_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_IntersegmentEliminationMember" unitRef="USD" decimals="-3"> 0 </us-gaap:Assets>
<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation id="ID_205" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3"> 2970000 </us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
<us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest id="ID_206" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 5878000 </us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest>
<us-gaap:OtherNonoperatingIncomeExpense id="ID_207" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 9104000 </us-gaap:OtherNonoperatingIncomeExpense>
<us-gaap:LeasePolicyTextBlock id="ID_208" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Land Leases</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Most of the Company’s outdoor advertising </font><font style='font-family:Times New Roman;font-size:10pt;' >structures are located on leased land. Americas outdoor land leases are typically paid in advance for periods ranging from one to 12 months. International outdoor land leases are paid both in advance and in arrears, for periods ranging from one to 12 mon</font><font style='font-family:Times New Roman;font-size:10pt;' >ths. Most international street furniture display faces are operated through contracts with municipalities for up to 20 years. The leased land and street furniture contracts often include a percent of revenue to be paid along with a base rent payment. Pr</font><font style='font-family:Times New Roman;font-size:10pt;' >epaid land leases are recorded as an asset and expensed ratably over the related rental term and rent payments in arrears are recorded as an accrued liability.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
</us-gaap:LeasePolicyTextBlock>
<us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock id="ID_209" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Intangible Assets</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company’s indefinite-lived intangible assets include FCC broadcast licens</font><font style='font-family:Times New Roman;font-size:10pt;' >es in its </font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' > segment and billboard permits in its Americas outdoor advertising segment. The Company’s indefinite-lived intangible assets are not subject to amortization, but are tested for impairment at least annually. The Company tests for possible impa</font><font style='font-family:Times New Roman;font-size:10pt;' >irment of indefinite-lived intangible assets whenever events or changes in circumstances, such as a significant reduction in operating cash flow or a dramatic change in the manner for which the asset is intended to be used indicate that the carrying amount</font><font style='font-family:Times New Roman;font-size:10pt;' > of the asset may not be recoverable.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company performs its annual impairment test for its FCC licenses and permits using a direct valuation technique as prescribed in ASC 805-20-S99. The Company engages </font><font style='font-family:Times New Roman;font-size:10pt;' >Mesirow</font><font style='font-family:Times New Roman;font-size:10pt;' > Financial Consulting LLC (“</font><font style='font-family:Times New Roman;font-size:10pt;' >Mesirow</font><font style='font-family:Times New Roman;font-size:10pt;' > Fina</font><font style='font-family:Times New Roman;font-size:10pt;' >ncial”), a third party valuation firm, to assist the Company in the development of these assumptions and the Company’s determination of the fair value of its FCC licenses and permits.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Other intangible assets include definite-lived intangible assets and pe</font><font style='font-family:Times New Roman;font-size:10pt;' >rmanent easements. The Company’s definite-lived intangible assets include primarily transit and street furniture contracts, talent and representation contracts, customer and advertiser relationships, and site-leases, all of which are amortized over the re</font><font style='font-family:Times New Roman;font-size:10pt;' >spective lives of the agreements, or over the period of time the assets are expected to contribute directly or indirectly to the Company’s future cash flows. The Company periodically reviews the appropriateness of the amortization periods related to its d</font><font style='font-family:Times New Roman;font-size:10pt;' >efinite-lived intangible assets. These assets are recorded at cost. Permanent easements are indefinite-lived intangible assets which include certain rights to use real property not owned by the Company.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company tests for possible impairment of other </font><font style='font-family:Times New Roman;font-size:10pt;' >intangible assets whenever events and circumstances indicate that they might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts of those assets. When specific assets are determined to b</font><font style='font-family:Times New Roman;font-size:10pt;' >e unrecoverable, the cost basis of the asset is reduced to reflect the current fair market value.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
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<us-gaap:IncomeTaxReconciliationTaxSettlements id="ID_210" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-5"> 60600000 </us-gaap:IncomeTaxReconciliationTaxSettlements>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue id="ID_211" contextRef="AS_OF_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentCompanyMember" unitRef="USD" decimals="-3"> 0 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
<cik0000739708:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsFairValueOfOptionsVested id="ID_212" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentCompanyMember" unitRef="USD" decimals="-5"> 300000 </cik0000739708:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsFairValueOfOptionsVested>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1 id="ID_213" contextRef="AS_OF_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember" unitRef="USD" decimals="-3"> 10065000 </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1>
<us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization id="ID_214" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_cik0000739708_TransitStreetFurnitureAndOtherOutdoorContractualRightsMember" unitRef="USD" decimals="-3"> 464548000 </us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 id="ID_215" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentCompanyMember_us-gaap_RangeAxis_us-gaap_MinimumMember"> P6Y4M </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
<us-gaap:DeferredTaxAssetsOther id="ID_216" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 35527000 </us-gaap:DeferredTaxAssetsOther>
<us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax id="ID_217" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -308590000 </us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue id="ID_218" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember" unitRef="USD" decimals="-5"> 5000000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="ID_219" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_AwardTypeAxis_cik0000739708_CcohRestrictedStockMember" unitRef="USD_Per_Share" decimals="INF"> 8.88 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
<us-gaap:PaymentsToAcquireBusinessesGross id="ID_220" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 97000 </us-gaap:PaymentsToAcquireBusinessesGross>
<us-gaap:OtherGeneralAndAdministrativeExpense id="ID_221" contextRef="FROM_Jan01_2013_TO_Mar31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 80800000 </us-gaap:OtherGeneralAndAdministrativeExpense>
<us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts id="ID_222" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 9726000 </us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts>
<us-gaap:OperatingIncomeLoss id="ID_223" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_AllOtherSegmentsMember" unitRef="USD" decimals="-3"> 58829000 </us-gaap:OperatingIncomeLoss>
<us-gaap:AssetImpairmentCharges id="ID_224" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_AllOtherSegmentsMember" unitRef="USD" decimals="-3"> 0 </us-gaap:AssetImpairmentCharges>
<us-gaap:OtherAssetsNoncurrent id="ID_225" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 289065000 </us-gaap:OtherAssetsNoncurrent>
<us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax id="ID_226" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -11010000 </us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax>
<us-gaap:RetainedEarningsAccumulatedDeficit id="ID_227" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -10888629000 </us-gaap:RetainedEarningsAccumulatedDeficit>
<us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance id="ID_228" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="pure" decimals="2"> 0.07 </us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance>
<us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock id="ID_229" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Capital</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-Cancelable</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-Cancelable</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expenditure</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Employment/Talent</font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Operating Leases</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Contracts</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Commitments</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Contracts</font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 435,118 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 593,123 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 55,968 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 80,442 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2016</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 347,487 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 437,022 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 70,385 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 75,760 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2017</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 302,876 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 262,368 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 67,053 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 31,673 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2018</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 269,697 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 240,128 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 922 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,069 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2019</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 243,096 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 171,562 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 757 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Thereafter</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,325,171 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 336,120 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 14,402 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,923,445 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,040,323 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 209,487 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 198,944 </font></td></tr></table></div>
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<us-gaap:NetIncomeLossAttributableToNoncontrollingInterest id="ID_253" contextRef="FROM_Apr01_2013_TO_Jun30_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 12805000 </us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
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<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Cash and Cash Equivalents</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Cash and cash equivalents include all highly liquid investments with an original maturity of thr</font><font style='font-family:Times New Roman;font-size:10pt;' >ee months or less.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
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<div><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Principles of Consolidation</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The consolidated financial statements include the accounts of the Company and its subsidiaries. Also included in the consolidated financial statements are entities for which the Company has a controll</font><font style='font-family:Times New Roman;font-size:10pt;' >ing financial interest or is the primary beneficiary. Investments in companies in which the Company owns </font><font style='font-family:Times New Roman;font-size:10pt;' >20</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >percent to </font><font style='font-family:Times New Roman;font-size:10pt;' >50</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >percent of the voting common stock or otherwise exercises significant influence over operating and financial policies of the Company </font><font style='font-family:Times New Roman;font-size:10pt;' >are accounted for using the equity method of accounting. All significant intercompany accounts have bee</font><font style='font-family:Times New Roman;font-size:10pt;' >n eliminated in consolidation.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Certain prior period amounts have been reclassified to conform to the </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > presentation.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The</font><font style='font-family:Times New Roman;font-size:10pt;' > Company is the beneficiary of two trusts created to comply with Federal Communications Commission (“FCC”) ownership rules.  The radio stations owned by the trusts are managed by independent trustees.  The trustees are marketing these stations for sale, an</font><font style='font-family:Times New Roman;font-size:10pt;' >d the stations will have to be sold unless any stations may be owned by the Company under then-current FCC rules, in which case the trusts will be terminated with respect to such stations.  The trust agreements stipulate that the Company must fund any oper</font><font style='font-family:Times New Roman;font-size:10pt;' >ating shortfalls of the trust activities, and any excess cash flow generated by the trusts is distributed to the Company.  The Company is also the beneficiary of proceeds from the sale of stations held in the trusts.  The Company consolidates the trusts in</font><font style='font-family:Times New Roman;font-size:10pt;' > accordance with ASC 810-10, which requires an enterprise involved with variable interest entities to perform an analysis to determine whether the enterprise’s variable interest or interests give it a controlling financial interest in the variable interest</font><font style='font-family:Times New Roman;font-size:10pt;' > entity, as the trusts were determined to be a variable interest entity and the Company is the primary beneficiary under the trusts</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
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<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;font-weight:bold;margin-left:0pt;' >NOTE 12 — OTHER INFORMATION</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The following table discloses the components of “Other income (expense)” for the years ended December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='8' rowspan='1' style='width:199.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:199.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:center;border-color:Black;min-width:329.25pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign exchange gain (loss)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15,554 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,772 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,018)</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Debt modification expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (23,555)</font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (6,450)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (197)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,268 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total other income (expense), net</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,104 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (21,980)</font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 250 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The following table </font><font style='font-family:Times New Roman;font-size:10pt;' >discloses the increase (decrease) in net deferred income tax liabilities related to each component of other comprehensive income (loss) for the years ended </font><font style='font-family:Times New Roman;font-size:10pt;' >December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='8' rowspan='1' style='width:199.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:199.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:justify;border-color:Black;min-width:329.25pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency translation adjustments and other</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,559 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (14,421)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,210 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain on marketable securities</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (11,010)</font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15,324 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain (loss) on cash flow derivatives</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 28,759 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 30,074 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total increase in deferred tax liabilities</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,559 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,328 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 48,608 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The following table discloses the components of “Other</font><font style='font-family:Times New Roman;font-size:10pt;' > current assets” as of December </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:130.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Inventory</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 23,777 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 26,872 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred tax asset</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 37,793 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 51,967 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deposits</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,466 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,126 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred loan costs</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32,602 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 30,165 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 37,661 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 47,027 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total other current assets </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 136,299 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 161,157 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The following table discloses the components of “Other assets” as of December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:130.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:justify;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Investments in, and advances to, nonconsolidated affiliates</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,493 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 238,805 </font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other investments</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,247 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,725 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Notes receivable</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 242 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 302 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Prepaid expenses</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,082 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 24,231 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred loan costs</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 130,267 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 143,763 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deposits</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 27,822 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 26,200 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Prepaid rent</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 56,430 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 62,864 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-qualified plan assets</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,568 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,844 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other </font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,914 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15,722 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total other assets </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 289,065 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 533,456 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The following table discloses the components of “Other long-term liabilities” as of December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:130.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrecognized tax benefits</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 110,410 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 131,015 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Asset retirement obligation</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 53,936 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 59,125 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-qualified plan liabilities</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,568 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,844 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred income</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 23,734 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,247 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred rent</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 125,530 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 120,092 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Employee related liabilities</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 39,963 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 31,617 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 89,722 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 92,080 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total other long-term liabilities </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 454,863 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 462,020 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The following table discloses the components of “Accumulated other comprehensive loss,” net of tax, as of December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:130.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cumulative currency translation adjustment</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (291,520)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (188,920)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cumulative unrealized gain on securities</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,397 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,101 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cumulative other adjustments</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (18,467)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,254)</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total accumulated other comprehensive loss</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (308,590)</font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (196,073)</font></td></tr></table></div>
</cik0000739708:OtherInformationDisclosureTextBlock>
<us-gaap:DirectOperatingCosts id="ID_335" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_AllOtherSegmentsMember" unitRef="USD" decimals="-3"> 25088000 </us-gaap:DirectOperatingCosts>
<us-gaap:InterestPayableCurrent id="ID_336" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 252900000 </us-gaap:InterestPayableCurrent>
<us-gaap:OtherOperatingIncomeExpenseNet id="ID_337" contextRef="FROM_Jul01_2014_TO_Sep30_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 47172000 </us-gaap:OtherOperatingIncomeExpenseNet>
<us-gaap:PrepaidRent id="ID_338" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 56430000 </us-gaap:PrepaidRent>
<us-gaap:PrepaidPensionCosts id="ID_339" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 11568000 </us-gaap:PrepaidPensionCosts>
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<us-gaap:InterestExpense id="ID_341" contextRef="FROM_Oct01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 437261000 </us-gaap:InterestExpense>
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<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' ><font style='font-family:Times New Roman;font-size:12pt;font-weight:bold;margin-left:0pt;' >NOTE 2 – </font><font style='font-family:Times New Roman;font-size:12pt;font-weight:bold;' >Property, plant and equipment, </font><font style='font-family:Times New Roman;font-size:12pt;font-weight:bold;' >INTANGIBLE</font><font style='font-family:Times New Roman;font-size:12pt;font-weight:bold;' > ASSETS AND GOODWILL</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Acquisitions</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >T</font><font style='font-family:Times New Roman;font-size:10pt;' >he Company is the beneficiary of Aloha Station Trust, LLC (the “Aloha Trust”), which owns and operates radio stations which the Aloha Trust is required to </font><font style='font-family:Times New Roman;font-size:10pt;' >divest in order to comply with Federal Communication Commission (“FCC”) media ownership rules, and which are being marketed for sale. During 2014, the Aloha Trust completed a transaction in which it exchanged </font><font style='font-family:Times New Roman;font-size:10pt;' >two</font><font style='font-family:Times New Roman;font-size:10pt;' > radio stations for a portfolio of </font><font style='font-family:Times New Roman;font-size:10pt;' >29</font><font style='font-family:Times New Roman;font-size:10pt;' > radio </font><font style='font-family:Times New Roman;font-size:10pt;' >stations. In this transaction the Company received </font><font style='font-family:Times New Roman;font-size:10pt;' >28</font><font style='font-family:Times New Roman;font-size:10pt;' > radio stations. </font><font style='font-family:Times New Roman;font-size:10pt;' >One</font><font style='font-family:Times New Roman;font-size:10pt;' > radio station was placed into the Brunswick Station Trust, LLC in order to comply with FCC media ownership rules where it is being marketed for sale, and the Company is the benefic</font><font style='font-family:Times New Roman;font-size:10pt;' >iary of this trust. The exchange was accounted for at fair value in accordance with ASC 805, Business Combinations. The disposal of these radio stations resulted in a gain on sale of $</font><font style='font-family:Times New Roman;font-size:10pt;' >43.5</font><font style='font-family:Times New Roman;font-size:10pt;' > million, which is included in other operating income</font><font style='font-family:Times New Roman;font-size:10pt;' >, net</font><font style='font-family:Times New Roman;font-size:10pt;' >. This acqui</font><font style='font-family:Times New Roman;font-size:10pt;' >sition resulted in an aggregate increase in net assets of $49.2 million, which includes $13.8 million in indefinite-lived intangible assets, $10.2 million in definite-lived intangibles, $8.1 million in property, plant and equipment and </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >0.8</font><font style='font-family:Times New Roman;font-size:10pt;' > million of assu</font><font style='font-family:Times New Roman;font-size:10pt;' >med liabilities</font><font style='font-family:Times New Roman;font-size:10pt;' >. In addition, the Company recognized </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >17.9</font><font style='font-family:Times New Roman;font-size:10pt;' > million of goodwill</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >During 2012, </font><font style='font-family:Times New Roman;font-size:10pt;' >a wholly owned subsidiary of the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > completed the acquisition of WOR-AM in New York City for $</font><font style='font-family:Times New Roman;font-size:10pt;' >30.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million and WFNX</font><font style='font-family:Times New Roman;font-size:10pt;' >-FM</font><font style='font-family:Times New Roman;font-size:10pt;' > in Boston for $</font><font style='font-family:Times New Roman;font-size:10pt;' >1</font><font style='font-family:Times New Roman;font-size:10pt;' >4.5</font><font style='font-family:Times New Roman;font-size:10pt;' > million. These </font><font style='font-family:Times New Roman;font-size:10pt;' >acquisit</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >ons resulted in an aggregate increase of $</font><font style='font-family:Times New Roman;font-size:10pt;' >5.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million to property plant and equipment, $15.2 million to intangible assets and $24.</font><font style='font-family:Times New Roman;font-size:10pt;' >7</font><font style='font-family:Times New Roman;font-size:10pt;' > million to goodwill</font><font style='font-family:Times New Roman;font-size:10pt;' >, in addition to $0.7 million of assumed liabilities</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;' > Purchase accounting adjustments were fina</font><font style='font-family:Times New Roman;font-size:10pt;' >lized during 2013.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Dispositions</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >During 2013, the Company’s Americas outdoor segment divested certain outdoor advertising assets in Times Square for approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >18.7</font><font style='font-family:Times New Roman;font-size:10pt;' > million resulting in a gain of $</font><font style='font-family:Times New Roman;font-size:10pt;' >12.2</font><font style='font-family:Times New Roman;font-size:10pt;' > million. In addition, </font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' > exercised a put option </font><font style='font-family:Times New Roman;font-size:10pt;' >to sell</font><font style='font-family:Times New Roman;font-size:10pt;' > five radio stations in the Green Bay market for approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >17.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million</font><font style='font-family:Times New Roman;font-size:10pt;' >, resulting in </font><font style='font-family:Times New Roman;font-size:10pt;' >a gain of $</font><font style='font-family:Times New Roman;font-size:10pt;' >0.</font><font style='font-family:Times New Roman;font-size:10pt;' >5</font><font style='font-family:Times New Roman;font-size:10pt;' > million. These net gains are included in “Other operating income, net.”</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >During 2012, the Company’s International out</font><font style='font-family:Times New Roman;font-size:10pt;' >door segment sold its international neon business and its outdoor advertising business in Romania, resulting in an aggregate gain of $</font><font style='font-family:Times New Roman;font-size:10pt;' >39.7</font><font style='font-family:Times New Roman;font-size:10pt;' > million included in “Other operating income, net.”</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' >Property, Plant and Equipment</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company’s property, plant and equipment consisted of the following classes of assets at </font><font style='font-family:Times New Roman;font-size:10pt;' >December 31,</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectivel</font><font style='font-family:Times New Roman;font-size:10pt;' >y.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Land, buildings and improvements</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 731,925 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 723,268 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Structures</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,999,582 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,021,152 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Towers, transmitters and studio equipment</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 453,044 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 440,612 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Furniture and other equipment</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 536,255 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 473,995 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Construction in progress</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 95,671 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 123,814 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,816,477 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,782,841 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Less: accumulated depreciation</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,117,413 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,885,211 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Property, plant and equipment, net</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,699,064 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,897,630 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company recorded an impairment charge related to property of $4.5 million during 2014. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company </font><font style='font-family:Times New Roman;font-size:10pt;' >recorded an </font><font style='font-family:Times New Roman;font-size:10pt;' >impair</font><font style='font-family:Times New Roman;font-size:10pt;' >ment charge related to</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >radio broadcast equipment in one market of $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million based on a sales agreement entered into during the fourth quarter of 2013. The Company recognized an impairment charge for </font><font style='font-family:Times New Roman;font-size:10pt;' >outdoor advertising structures in its Americas outdoor segment </font><font style='font-family:Times New Roman;font-size:10pt;' >of </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >1.7</font><font style='font-family:Times New Roman;font-size:10pt;' > million during 2012.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Ind</font><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;' >efinite-lived Intangible As</font><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;' >sets</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company’s indefinite-lived intangible assets consist of FCC broadcast licenses and billboard permits. FCC broadcast licenses are granted to radio stations for up to eight years under the Telecommunications Act of 1996 (the “Act”). The Act requir</font><font style='font-family:Times New Roman;font-size:10pt;' >es the FCC to renew a broadcast license if the FCC finds that the station has served the public interest, convenience and necessity, there have been no serious violations of either the Communications Act of 1934 or the FCC’s rules and regulations by the li</font><font style='font-family:Times New Roman;font-size:10pt;' >censee, and there have been no other serious violations which taken together constitute a pattern of abuse. The licenses may be renewed indefinitely at little or no cost. The Company does not believe that the technology of wireless broadcasting will be r</font><font style='font-family:Times New Roman;font-size:10pt;' >eplac</font><font style='font-family:Times New Roman;font-size:10pt;' >ed in the foreseeable future.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company’s billboard permits are granted for the right to operate an advertising structure at the specified location as long as the structure is in compliance with the laws and regulations of each jurisdiction. The C</font><font style='font-family:Times New Roman;font-size:10pt;' >ompany’s permits are located on owned land, leased land or land for which we have acquired permanent easements. In cases where the Company’s permits are located on leased land, the leases typically have initial terms of between 10</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >and 20</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >years and renew i</font><font style='font-family:Times New Roman;font-size:10pt;' >ndefinitely, with rental payments generally escalating at an inflation-based index. If the Company loses its lease, the Company will typically obtain permission to relocate the permit or bank it with the municipality for future use. Due to significant dif</font><font style='font-family:Times New Roman;font-size:10pt;' >ferences in both business practices and regulations, billboards in the International outdoor segment are subject to long-term, finite contracts unlike the Company’s permits in the United States and Canada. Accordingly, there are no indefinite-lived intang</font><font style='font-family:Times New Roman;font-size:10pt;' >ible assets in the International outdoor segment.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The impairment tests for indefinite-lived intangible assets consist of a comparison between the fair value of the indefinite-lived intangible asset at the market level with its carrying amount. If the car</font><font style='font-family:Times New Roman;font-size:10pt;' >rying amount of the indefinite-lived intangible asset exceeds its fair value, an impairment loss is recognized equal to that excess. After an impairment loss is recognized, the adjusted carrying amount of the indefinite-lived asset is its new accounting b</font><font style='font-family:Times New Roman;font-size:10pt;' >asis. The fair value of the indefinite-lived asset is determined using the direct valuation method as prescribed in ASC</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >805-20-S99. Under the direct valuation method, the fair value of the indefinite-lived assets is calculated at the market level as pres</font><font style='font-family:Times New Roman;font-size:10pt;' >cribed by ASC</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >350-30-35. The Company engaged </font><font style='font-family:Times New Roman;font-size:10pt;' >Mesirow</font><font style='font-family:Times New Roman;font-size:10pt;' > Financial, a third-party valuation firm, to assist it in the development of the assumptions and the Company’s determination of the fair value of its indef</font><font style='font-family:Times New Roman;font-size:10pt;' >inite-lived intangible assets.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The application o</font><font style='font-family:Times New Roman;font-size:10pt;' >f the direct valuation method attempts to isolate the income that is properly attributable to the indefinite-lived intangible asset alone (that is, apart from tangible and identified intangible assets and goodwill). It is based upon modeling a hypothetica</font><font style='font-family:Times New Roman;font-size:10pt;' >l “greenfield” build-up to a “normalized” enterprise that, by design, lacks inherent goodwill and whose only other assets have essentially been paid for (or added) as part of the build-up process. The Company forecasts revenue, expenses, and cash flows ov</font><font style='font-family:Times New Roman;font-size:10pt;' >er a ten-year period for each of its markets in its application of the direct valuation method. The Company also calculates a “normalized” residual year which represents the perpetual cash flows of each market. The residual year cash flow was capitalized</font><font style='font-family:Times New Roman;font-size:10pt;' > to arrive at the terminal value o</font><font style='font-family:Times New Roman;font-size:10pt;' >f the licenses in each market.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Under the direct valuation method, it is assumed that rather than acquiring indefinite-lived intangible assets as part of a going concern business, the buyer hypothetically develops indefini</font><font style='font-family:Times New Roman;font-size:10pt;' >te-lived intangible assets and builds a new operation with similar attributes from scratch. Thus, the buyer incurs start-up costs during the build-up phase which are normally associated with going concern value. Initial capital costs are deducted from th</font><font style='font-family:Times New Roman;font-size:10pt;' >e discounted cash flow model which results in value that is directly attributable to the indef</font><font style='font-family:Times New Roman;font-size:10pt;' >inite-lived intangible assets.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The key assumptions using the direct valuation method are market revenue growth rates, market share, profit margin, duration and p</font><font style='font-family:Times New Roman;font-size:10pt;' >rofile of the build-up period, estimated start-up capital costs and losses incurred during the build-up period, the risk-adjusted discount rate and terminal values. This data is populated using industry normalized information representing an average FCC l</font><font style='font-family:Times New Roman;font-size:10pt;' >icense or billboard permit within a market.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Annual Impairment Test to FCC Licenses and Billboard Permits</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company performs its annual impairment t</font><font style='font-family:Times New Roman;font-size:10pt;' >est on October 1 of each year.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >During 2014, the Company recognized a $15.7 million impairment charge </font><font style='font-family:Times New Roman;font-size:10pt;' >related to FCC licenses</font><font style='font-family:Times New Roman;font-size:10pt;' > in eleven</font><font style='font-family:Times New Roman;font-size:10pt;' > markets due to changes in the revenue growth forecasts and margins</font><font style='font-family:Times New Roman;font-size:10pt;' > for those markets. During 2013, the Company recognized a $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million impairment charge related to FCC licenses in two markets due to changes </font><font style='font-family:Times New Roman;font-size:10pt;' >in the discount rates and weight-average cost of capital for those markets. In addition, the Company recognized a $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.5</font><font style='font-family:Times New Roman;font-size:10pt;' > million impairment charge related to billboard permits in a certain market due </font><font style='font-family:Times New Roman;font-size:10pt;' >to increased start-up costs for that market exceeding mar</font><font style='font-family:Times New Roman;font-size:10pt;' >ket value. </font><font style='font-family:Times New Roman;font-size:10pt;' >During 2012</font><font style='font-family:Times New Roman;font-size:10pt;' >, the Company recognized a $</font><font style='font-family:Times New Roman;font-size:10pt;' >35.9</font><font style='font-family:Times New Roman;font-size:10pt;' > million impairment charge related to </font><font style='font-family:Times New Roman;font-size:10pt;' >billboard permits in certain markets due to a change in the Company’s forecast of revenue growth within the markets.</font><font style='font-family:Times New Roman;font-size:10pt;' > There was no impairment of FCC licenses during</font><font style='font-family:Times New Roman;font-size:10pt;' > 2012</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Other</font><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;' > Intangible Assets</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Other</font><font style='font-family:Times New Roman;font-size:10pt;' > intangible assets include </font><font style='font-family:Times New Roman;font-size:10pt;' >definite-lived intangible assets and permanent easements. The Company’s definite-lived intangible assets include </font><font style='font-family:Times New Roman;font-size:10pt;' >primarily transit and street furniture contracts, talent and representation </font><font style='font-family:Times New Roman;font-size:10pt;' >contracts, customer and advertiser relationships, and site-leases, all of which are amortized over the respective lives of the agreements, or over the period of time the assets are expected to contribute directly or indirectly to the Company’s future cash </font><font style='font-family:Times New Roman;font-size:10pt;' >flows. </font><font style='font-family:Times New Roman;font-size:10pt;' >Permanent easements are indefinite-lived intangible assets which include certain rights to use real property not owned by the Company. </font><font style='font-family:Times New Roman;font-size:10pt;' >During </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, the Company recognized a $3.4 million impairment charge to easements in three markets </font><font style='font-family:Times New Roman;font-size:10pt;' >primarily </font><font style='font-family:Times New Roman;font-size:10pt;' >due to declining revenue forecasts. </font><font style='font-family:Times New Roman;font-size:10pt;' >There were no impairments of other intangible assets for the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2012</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The following table presents the gross carrying amount and accumulated amortization for each major class of </font><font style='font-family:Times New Roman;font-size:10pt;' >other</font><font style='font-family:Times New Roman;font-size:10pt;' > intangible assets at </font><font style='font-family:Times New Roman;font-size:10pt;' >December 31,</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='5' rowspan='1' style='width:156.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31, 2014</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:156.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31, 2013</font></td></tr><tr style='height:26.25pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:204pt;text-align:left;border-color:Black;min-width:204pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Gross Carrying Amount</font></td><td style='width:3.75pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Accumulated Amortization</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Gross Carrying Amount</font></td><td style='width:3.75pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Accumulated Amortization</font></td></tr><tr style='height:25.5pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Transit, street furniture and other outdoor</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > contractual rights</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 716,723 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (476,523)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 777,521 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (464,548)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Customer / advertiser relationships</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,222,518 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (765,596)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,212,745 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (645,988)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Talent contracts</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 319,384 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (223,936)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 319,617 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (195,403)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Representation contracts</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 238,313 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (206,338)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 252,961 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (200,058)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Permanent easements</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 171,271 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 173,753 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 388,160 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (177,249)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 387,405 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (151,459)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:204pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:204pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,056,369 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,849,642)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,124,002 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,657,456)</font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >Total amortization expense related to definite-lived intangible assets </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >was $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >263.4</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > million, </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >289.0</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >million</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > and</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >300.0</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >million</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >for the years ended</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > and </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, respectively.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >As acquisitions and dispositions occur in </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >the future, amortization expense may vary. The following table presents the Company’s estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:15pt;text-align:right;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:left;border-color:Black;min-width:45pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:15pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:45pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 236,019 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2016</font></td><td style='width:15pt;text-align:right;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:right;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 219,485 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2017</font></td><td style='width:15pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 197,061 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2018</font></td><td style='width:15pt;text-align:right;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:right;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 127,730 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2019</font></td><td style='width:15pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 42,274 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Annual Impairment Test to Goodwill</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company performs its annual impairment test on October</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >1 of each year. Each of the Company’s U.S. radio markets and outdoor advertising markets are components. The U.S. radio markets are aggregated into a single </font><font style='font-family:Times New Roman;font-size:10pt;' >reporting unit and the U.S. outdoor advertising markets are aggregated into a single reporting unit for purposes of the goodwill impairment test using the guidance in ASC</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >350-20-55. The Company also determined that within its Americas outdoor segment, Can</font><font style='font-family:Times New Roman;font-size:10pt;' >ada constitute</font><font style='font-family:Times New Roman;font-size:10pt;' >s a separate reporting unit</font><font style='font-family:Times New Roman;font-size:10pt;' > and each country in its International outdoor segment constitu</font><font style='font-family:Times New Roman;font-size:10pt;' >tes a separate reporting unit.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The goodwill impairment test is a two-step process. The first step, used to screen for potential impairment, compares th</font><font style='font-family:Times New Roman;font-size:10pt;' >e fair value of the reporting unit with its carrying amount, including goodwill. If applicable, the second step, used to measure the amount of the impairment loss, compares the implied fair value of the reporting unit goodwill with the carrying amount of t</font><font style='font-family:Times New Roman;font-size:10pt;' >hat goodwill.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Each of the Company’s reporting units is valued using a discounted cash flow model which requires estimating future cash flows expected to be generated from the reporting unit, discounted to their present value using a risk-adjusted discount</font><font style='font-family:Times New Roman;font-size:10pt;' > rate. Terminal values were also estimated and discounted to their present value. Assessing the recoverability of goodwill requires the Company to make estimates and assumptions about sales, operating margins, growth rates and discount rates based on its</font><font style='font-family:Times New Roman;font-size:10pt;' > budgets, business plans, economic projections, anticipated future cash flows and marketplace data. There are inherent uncertainties related to these factors and management’s judg</font><font style='font-family:Times New Roman;font-size:10pt;' >ment in applying these factors.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >In 2014, the Company concluded no goodwill</font><font style='font-family:Times New Roman;font-size:10pt;' > impairment was required</font><font style='font-family:Times New Roman;font-size:10pt;' >. In 2013, the Company concluded no goodwill impairment was required for iHM and Americas outdoor. Based on declining future cash flows expected in one country in the International outdoor segment, the Company recognized a non-cash</font><font style='font-family:Times New Roman;font-size:10pt;' > impairment charge to goodwill of $10.7 million. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company </font><font style='font-family:Times New Roman;font-size:10pt;' >recognized no</font><font style='font-family:Times New Roman;font-size:10pt;' > goodwill </font><font style='font-family:Times New Roman;font-size:10pt;' >impairment </font><font style='font-family:Times New Roman;font-size:10pt;' >for </font><font style='font-family:Times New Roman;font-size:10pt;' >the year ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2012.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The following table presents the changes in the carrying amount of goodwill in each of th</font><font style='font-family:Times New Roman;font-size:10pt;' >e Company’s reportable segments:</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' > </font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:39.75pt;' ><td colspan='2' rowspan='1' style='width:142.5pt;text-align:left;border-color:Black;min-width:142.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >iHM</font></td><td style='width:3.75pt;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Americas Outdoor Advertising</font></td><td style='width:3.75pt;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >International Outdoor Advertising</font></td><td style='width:3.75pt;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:3.75pt;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Consolidated</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:142.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:142.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance as of December 31, 2012</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,236,688 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 571,932 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 290,316 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 117,149 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,216,085 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Impairment</font></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (10,684)</font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (10,684)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Acquisitions</font></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 97 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 97 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Dispositions</font></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (456)</font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (456)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency</font></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (974)</font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (974)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,881)</font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,881)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:142.5pt;text-align:left;border-color:Black;min-width:142.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance as of December 31, 2013</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,234,807 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 571,932 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 278,202 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 117,246 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,202,187 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Acquisitions</font></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 17,900 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 299 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,199 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency</font></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (33,022)</font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (33,022)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 60 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 60 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:142.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:142.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance as of December 31, 2014</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,252,767 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 571,932 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 245,180 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 117,545 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,187,424 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The balance at December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2012</font><font style='font-family:Times New Roman;font-size:10pt;' > is net of cumulative impairments of </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >3.5</font><font style='font-family:Times New Roman;font-size:10pt;' > billion, $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.6</font><font style='font-family:Times New Roman;font-size:10pt;' > billion, $</font><font style='font-family:Times New Roman;font-size:10pt;' >315.9</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >212.0</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million in the Company’s </font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' >, Americas outdoor, International outdoor an</font><font style='font-family:Times New Roman;font-size:10pt;' >d Other segments, respectively.</font></p></div>
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<us-gaap:AdvertisingBarterTransactionsAdvertisingBarterRevenue id="ID_356" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-5"> 56500000 </us-gaap:AdvertisingBarterTransactionsAdvertisingBarterRevenue>
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<us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost id="ID_380" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-5"> 28900000 </us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost>
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<us-gaap:QuarterlyFinancialInformationTextBlock id="ID_382" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;font-weight:bold;margin-left:0pt;' >NOTE 14 — QUARTERLY RESULTS OF OPERATIONS (Unaudited)</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-style:italic;margin-left:0pt;' >(In thousands, except per share data)</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:216pt;text-align:left;border-color:Black;min-width:216pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:25.5pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ></td><td colspan='3' rowspan='1' style='width:106.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:106.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >March 31,</font></td><td style='width:1.5pt;text-align:center;border-color:Black;min-width:1.5pt;' ></td><td colspan='3' rowspan='1' style='width:106.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:106.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >June 30,</font></td><td style='width:1.5pt;text-align:center;border-color:Black;min-width:1.5pt;' ></td><td colspan='3' rowspan='1' style='width:106.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:106.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >September 30,</font></td><td style='width:1.5pt;text-align:center;border-color:Black;min-width:1.5pt;' ></td><td colspan='3' rowspan='1' style='width:106.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:106.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:1.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:1.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:1.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:1.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Revenue</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,342,548 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,343,058 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,630,154 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,618,097 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,630,034 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,587,522 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,715,797 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,694,367 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating expenses:</font></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Direct operating expenses</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 596,496 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 597,780 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 643,222 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 632,586 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 645,981 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 648,743 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 648,666 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 674,978 </font></td></tr><tr style='height:24pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Selling, general and </font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > administrative expenses</font></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 415,828 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 403,363 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 420,577 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 411,341 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 429,687 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 411,354 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 421,116 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 423,803 </font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate expenses</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 72,705 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 80,800 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 82,196 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 75,328 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 78,202 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 89,574 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 87,228 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 67,812 </font></td></tr><tr style='height:24pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Depreciation and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > amortization</font></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 174,871 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 182,182 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 174,062 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 179,734 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 175,865 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 177,330 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 186,100 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 191,582 </font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Impairment charges</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,902 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 35 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 19,239 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,970 </font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other operating income, net</font></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 165 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,395 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,628)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,113 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 47,172 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,186 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,678)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 13,304 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating income</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 82,813 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 81,328 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 303,567 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 320,221 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 347,436 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 266,707 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 347,770 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 332,526 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Interest expense</font></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 431,114 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 385,525 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 440,605 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 407,508 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 432,616 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 438,404 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 437,261 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 418,014 </font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Gain (loss) on</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > marketable securities</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 130,898 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 31 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (50)</font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Equity in earnings (loss) of</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > nonconsolidated affiliates</font></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (13,326)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,641 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (16)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,971 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,955 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,983 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (29)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (91,291)</font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Gain (loss) on extinguishment</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > of debt</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,916)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,888)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (47,503)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,840)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,912 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (83,980)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other income (expense), net</font></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,541 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,000)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,157 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (18,098)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,617 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,709 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (7,211)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,591)</font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Income (loss) before</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > income taxes</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (364,002)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (305,444)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (172,400)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 31,484 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (83,448)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (165,974)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (83,819)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (265,400)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Income tax benefit (expense)</font></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (68,388)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 96,325 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 621 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (11,477)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (24,376)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 73,802 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 33,654 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (36,833)</font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Consolidated net</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > income (loss)</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (432,390)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (209,119)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (171,779)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,007 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (107,824)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (92,172)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (50,165)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (302,233)</font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Less amount attributable to </font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > noncontrolling interest</font></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,200)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (6,116)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 14,852 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,805 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,028 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,683 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 17,923 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,994 </font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Net income (loss)</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > attributable to the Company</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(424,190)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(203,003)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(186,631)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $7,202 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(114,852)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(101,855)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(68,088)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(309,227)</font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr></table></div>
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<us-gaap:FairValueOfFinancialInstrumentsPolicy id="ID_389" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Financial Instruments</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Due to their short maturity, the carrying amounts of accounts and notes receivable, accounts payable, accrued liabilities, and short-term borrowings approximated their fair values at December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div>
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<us-gaap:PropertyPlantAndEquipmentPolicyTextBlock id="ID_430" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Property, Plant and Equipment</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Property, plant and equipment are stated at cost. Depreciation is computed using the strai</font><font style='font-family:Times New Roman;font-size:10pt;' >ght-line method at rates that, in the opinion of management, are adequate to allocate the cost of such assets over their estimated useful lives, which are as follows:</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Buildings and improvements – 10 to 39 years</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > Structures – 5 to 15 years</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > Towers, </font><font style='font-family:Times New Roman;font-size:10pt;' >transmitters and studio equipment – 7 to 20 years</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > Furniture and other equipment – 3 to 20 years</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > Leasehold improvements – shorter of economic life or lease term assuming renewal periods, if appropriate</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >For assets associated with a lease or contract, the </font><font style='font-family:Times New Roman;font-size:10pt;' >assets are depreciated at the shorter of the economic life or the lease or contract term, assuming renewal periods, if appropriate. Expenditures for maintenance and repairs are charged to operations as incurred, whereas expenditures for renewal and better</font><font style='font-family:Times New Roman;font-size:10pt;' >ments are capitalized.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company tests for possible impairment of property, plant, and equipment whenever events and circumstances indicate that depreciable assets might be impaired and the undiscounted cash flows estimated to be generated by </font><font style='font-family:Times New Roman;font-size:10pt;' >those asse</font><font style='font-family:Times New Roman;font-size:10pt;' >ts are less than the carrying amounts of those assets. When specific assets are determined to be unrecoverable, the cost basis of the asset is reduced to reflect the current fair market value.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
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<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 id="ID_438" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_TermLoanEMember_us-gaap_LineOfCreditFacilityAxis_cik0000739708_SeniorSecuredCreditFacilityMember_us-gaap_VariableRateAxis_us-gaap_BaseRateMember" unitRef="pure" decimals="4"> 0.065 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
<us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity id="ID_439" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_LineOfCreditFacilityAxis_cik0000739708_ReceivablesBasedFacility1Member" unitRef="USD" decimals="-6"> 535000000 </us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
<us-gaap:Revenues id="ID_440" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_ConsolidationItemsAxis_us-gaap_OperatingSegmentsMember_us-gaap_StatementBusinessSegmentsAxis_us-gaap_AllOtherSegmentsMember" unitRef="USD" decimals="-3"> 61703000 </us-gaap:Revenues>
<us-gaap:NoncurrentAssets id="ID_441" contextRef="AS_OF_Dec31_2012_Entity_0000739708_us-gaap_StatementGeographicalAxis_country_US" unitRef="USD" decimals="-8"> 2200000000 </us-gaap:NoncurrentAssets>
<us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan id="ID_442" contextRef="FROM_Jan01_2011_TO_Dec31_2011_Entity_0000739708_dei_LegalEntityAxis_cik0000739708_CcFincoLlcMember_us-gaap_StatementClassOfStockAxis_us-gaap_CommonClassAMember" unitRef="USD" decimals="-5"> 16400000 </us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan>
<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign id="ID_443" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-5"> 84000000 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign>
<us-gaap:OperatingIncomeLoss id="ID_444" contextRef="FROM_Jan01_2014_TO_Mar31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 82813000 </us-gaap:OperatingIncomeLoss>
<us-gaap:OtherComprehensiveIncomeLossNetOfTax id="ID_445" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="USD" decimals="-3"> -21080000 </us-gaap:OtherComprehensiveIncomeLossNetOfTax>
<us-gaap:AccountsReceivableNetCurrent id="ID_446" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 1440501000 </us-gaap:AccountsReceivableNetCurrent>
<us-gaap:CommitmentsAndContingencies id="ID_447" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" xsi:nil="true"> </us-gaap:CommitmentsAndContingencies>
<us-gaap:RepaymentsOfLongTermDebt id="ID_448" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 3346906000 </us-gaap:RepaymentsOfLongTermDebt>
<us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax id="ID_449" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -196073000 </us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax>
<us-gaap:ScheduleOfOtherAssetsTableTextBlock id="ID_450" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:130.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Inventory</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 23,777 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 26,872 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred tax asset</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 37,793 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 51,967 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deposits</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,466 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,126 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred loan costs</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32,602 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 30,165 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 37,661 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 47,027 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total other current assets </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 136,299 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 161,157 </font></td></tr></table></div>
</us-gaap:ScheduleOfOtherAssetsTableTextBlock>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod id="ID_451" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentCompanyMember" unitRef="shares" decimals="-3"> 83000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod>
<us-gaap:ForeignCurrencyTransactionGainLossBeforeTax id="ID_452" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 15554000 </us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
<us-gaap:PaymentsOfDividendsMinorityInterest id="ID_453" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 91887000 </us-gaap:PaymentsOfDividendsMinorityInterest>
<us-gaap:DerivativesMethodsOfAccountingHedgingDerivatives id="ID_454" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Derivative Instruments and Hedging Activities</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Prior to the expir</font><font style='font-family:Times New Roman;font-size:10pt;' >ation of the Company’s interest rate swap agreement on September 30, 2013, the provisions of ASC 815-10 required the Company to recognize it as either an asset or liability in the consolidated balance sheet at fair value. The accounting for changes in the</font><font style='font-family:Times New Roman;font-size:10pt;' > fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship, and further, on the type of hedging relationship. The interest rate swap was designated and qualified as a hedging instrument</font><font style='font-family:Times New Roman;font-size:10pt;' >, and was characterized as a cash flow hedge. The Company formally documented all relationships between hedging instruments and hedged items, as well as its risk management objectives and strategies for undertaking various hedge transactions. The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > formally assessed, both at inception and at least quarterly thereafter prior to expiration, whether the derivatives that were used in hedging transactions were highly effective in offsetting changes in either the fair value or cash flows of the hedged ite</font><font style='font-family:Times New Roman;font-size:10pt;' >m</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
</us-gaap:DerivativesMethodsOfAccountingHedgingDerivatives>
<us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax id="ID_455" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_NoncontrollingInterestMember" unitRef="USD" decimals="-3"> -19898000 </us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment id="ID_456" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 97053000 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
<cik0000739708:IncreaseDecreaseInEquityMethodInvestmentDueToCurrencyTranslation id="ID_457" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_cik0000739708_AllOthersMember" unitRef="USD" decimals="-3"> 4000 </cik0000739708:IncreaseDecreaseInEquityMethodInvestmentDueToCurrencyTranslation>
<us-gaap:DeferredTaxAssetsEquityMethodInvestments id="ID_458" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 0 </us-gaap:DeferredTaxAssetsEquityMethodInvestments>
<us-gaap:DeferredRevenueCurrent id="ID_459" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 176048000 </us-gaap:DeferredRevenueCurrent>
<us-gaap:IncreaseDecreaseInDeferredRevenue id="ID_460" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 11288000 </us-gaap:IncreaseDecreaseInDeferredRevenue>
<us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="ID_461" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 23103000 </us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
<us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet id="ID_462" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 3532000 </us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet>
<us-gaap:ScheduleOfNonvestedShareActivityTableTextBlock id="ID_463" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:39.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Options</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted Average Grant Date Fair Value</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unvested, January 1, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,086 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10.74 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:15.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Vested </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1) </font></sup></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (140)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2.32 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (125)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2.16 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unvested, December 31, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 821 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 13.61 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >The </font><font style='font-family:Times New Roman;font-size:10pt;' >total fair value of the options vested during the years ended December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' > was $</font><font style='font-family:Times New Roman;font-size:10pt;' >0.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million, $</font><font style='font-family:Times New Roman;font-size:10pt;' >6.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >3.9</font><font style='font-family:Times New Roman;font-size:10pt;' > million, respectively.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Options</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted Average Grant Date Fair Value</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unvested, January 1, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,645 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5.21 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 627 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.69 </font></td></tr><tr style='height:15.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Vested </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1) </font></sup></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,091)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5.59 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (628)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.74 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unvested, December 31, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,553 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.92 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >The total fair value of CCOH options vested during the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' > was</font><font style='font-family:Times New Roman;font-size:10pt;' > $</font><font style='font-family:Times New Roman;font-size:10pt;' >6.1</font><font style='font-family:Times New Roman;font-size:10pt;' > million</font><font style='font-family:Times New Roman;font-size:10pt;' >, $</font><font style='font-family:Times New Roman;font-size:10pt;' >7.1</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >11.5</font><font style='font-family:Times New Roman;font-size:10pt;' > million, respectively.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
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<us-gaap:SellingGeneralAndAdministrativeExpense id="ID_465" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_CorporateAndOtherMember" unitRef="USD" decimals="-3"> 0 </us-gaap:SellingGeneralAndAdministrativeExpense>
<us-gaap:DeferredRevenue id="ID_466" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 16247000 </us-gaap:DeferredRevenue>
<us-gaap:RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments id="ID_467" contextRef="FROM_Jan01_2013_TO_Mar31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 0 </us-gaap:RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments>
<us-gaap:IncreaseDecreaseInDeferredRevenue id="ID_468" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 33482000 </us-gaap:IncreaseDecreaseInDeferredRevenue>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 id="ID_469" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember_us-gaap_RangeAxis_us-gaap_MinimumMember"> P6Y4M </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
<us-gaap:GainsLossesOnExtinguishmentOfDebt id="ID_470" contextRef="FROM_Oct01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -83980000 </us-gaap:GainsLossesOnExtinguishmentOfDebt>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice id="ID_471" contextRef="AS_OF_Dec31_2013_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentCompanyMember" unitRef="USD_Per_Share" decimals="INF"> 33.11 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:RepaymentsOfLinesOfCredit id="ID_472" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 1931419000 </us-gaap:RepaymentsOfLinesOfCredit>
<us-gaap:FiniteLivedIntangibleAssetsGross id="ID_473" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_CustomerRelationshipsMember" unitRef="USD" decimals="-3"> 1212745000 </us-gaap:FiniteLivedIntangibleAssetsGross>
<us-gaap:DepreciationDepletionAndAmortization id="ID_474" contextRef="FROM_Oct01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 186100000 </us-gaap:DepreciationDepletionAndAmortization>
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<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:216pt;text-align:left;border-color:Black;min-width:216pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:25.5pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ></td><td colspan='3' rowspan='1' style='width:106.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:106.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >March 31,</font></td><td style='width:1.5pt;text-align:center;border-color:Black;min-width:1.5pt;' ></td><td colspan='3' rowspan='1' style='width:106.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:106.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >June 30,</font></td><td style='width:1.5pt;text-align:center;border-color:Black;min-width:1.5pt;' ></td><td colspan='3' rowspan='1' style='width:106.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:106.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >September 30,</font></td><td style='width:1.5pt;text-align:center;border-color:Black;min-width:1.5pt;' ></td><td colspan='3' rowspan='1' style='width:106.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:106.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:1.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:1.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:1.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:1.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Revenue</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,342,548 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,343,058 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,630,154 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,618,097 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,630,034 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,587,522 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,715,797 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,694,367 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating expenses:</font></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Direct operating expenses</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 596,496 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 597,780 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 643,222 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 632,586 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 645,981 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 648,743 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 648,666 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 674,978 </font></td></tr><tr style='height:24pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Selling, general and </font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > administrative expenses</font></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 415,828 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 403,363 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 420,577 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 411,341 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 429,687 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 411,354 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 421,116 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 423,803 </font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate expenses</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 72,705 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 80,800 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 82,196 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 75,328 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 78,202 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 89,574 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 87,228 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 67,812 </font></td></tr><tr style='height:24pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Depreciation and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > amortization</font></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 174,871 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 182,182 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 174,062 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 179,734 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 175,865 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 177,330 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 186,100 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 191,582 </font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Impairment charges</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,902 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 35 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 19,239 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,970 </font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other operating income, net</font></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 165 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,395 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,628)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,113 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 47,172 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,186 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,678)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 13,304 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating income</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 82,813 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 81,328 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 303,567 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 320,221 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 347,436 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 266,707 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 347,770 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 332,526 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Interest expense</font></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 431,114 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 385,525 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 440,605 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 407,508 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 432,616 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 438,404 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 437,261 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 418,014 </font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Gain (loss) on</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > marketable securities</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 130,898 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 31 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (50)</font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Equity in earnings (loss) of</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > nonconsolidated affiliates</font></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (13,326)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,641 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (16)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,971 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,955 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,983 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (29)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (91,291)</font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Gain (loss) on extinguishment</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > of debt</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,916)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,888)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (47,503)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,840)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,912 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (83,980)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other income (expense), net</font></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,541 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,000)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,157 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (18,098)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,617 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,709 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (7,211)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,591)</font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Income (loss) before</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > income taxes</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (364,002)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (305,444)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (172,400)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 31,484 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (83,448)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (165,974)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (83,819)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (265,400)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Income tax benefit (expense)</font></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (68,388)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 96,325 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 621 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (11,477)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (24,376)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 73,802 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 33,654 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (36,833)</font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Consolidated net</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > income (loss)</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (432,390)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (209,119)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (171,779)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,007 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (107,824)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (92,172)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (50,165)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (302,233)</font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Less amount attributable to </font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > noncontrolling interest</font></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,200)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (6,116)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 14,852 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,805 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,028 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,683 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 17,923 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,994 </font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Net income (loss)</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > attributable to the Company</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(424,190)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(203,003)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(186,631)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $7,202 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(114,852)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(101,855)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(68,088)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(309,227)</font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr></table></div>
</us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock>
<us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance id="ID_476" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="pure" decimals="2"> -0.19 </us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance>
<us-gaap:IncomeTaxReconciliationTaxSettlements id="ID_477" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-5"> 20200000 </us-gaap:IncomeTaxReconciliationTaxSettlements>
<us-gaap:ForeignCurrencyTransactionGainLossBeforeTax id="ID_478" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> -3018000 </us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
<us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures id="ID_479" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 1244000 </us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures>
<us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease id="ID_480" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -251127000 </us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
<us-gaap:OtherOperatingIncomeExpenseNet id="ID_481" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherOperatingIncomeExpenseNet>
<us-gaap:DeferredTaxLiabilitiesFinancingArrangements id="ID_482" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 119887000 </us-gaap:DeferredTaxLiabilitiesFinancingArrangements>
<us-gaap:DeferredTaxLiabilitiesInvestmentInNoncontrolledAffiliates id="ID_483" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 1121000 </us-gaap:DeferredTaxLiabilitiesInvestmentInNoncontrolledAffiliates>
<cik0000739708:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsFairValueOfOptionsVested id="ID_484" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentCompanyMember" unitRef="USD" decimals="-5"> 3900000 </cik0000739708:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsFairValueOfOptionsVested>
<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest id="ID_485" contextRef="AS_OF_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> -7995191000 </us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
<us-gaap:OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax id="ID_486" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentMember" unitRef="USD" decimals="-3"> 83585000 </us-gaap:OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax>
<us-gaap:CurrentIncomeTaxExpenseBenefit id="ID_487" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 24566000 </us-gaap:CurrentIncomeTaxExpenseBenefit>
<us-gaap:NetIncomeLossAttributableToNoncontrollingInterest id="ID_488" contextRef="FROM_Jul01_2013_TO_Sep30_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 9683000 </us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
<us-gaap:IncreaseDecreaseInInterestPayableNet id="ID_489" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 20223000 </us-gaap:IncreaseDecreaseInInterestPayableNet>
<us-gaap:OtherNonoperatingIncomeExpense id="ID_490" contextRef="FROM_Oct01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -7211000 </us-gaap:OtherNonoperatingIncomeExpense>
<us-gaap:SellingGeneralAndAdministrativeExpense id="ID_491" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_AllOtherSegmentsMember" unitRef="USD" decimals="-3"> 152394000 </us-gaap:SellingGeneralAndAdministrativeExpense>
<us-gaap:SellingGeneralAndAdministrativeExpense id="ID_492" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 220732000 </us-gaap:SellingGeneralAndAdministrativeExpense>
<us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes id="ID_493" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="pure" decimals="2"> 0.04 </us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes>
<us-gaap:OperatingIncomeLoss id="ID_494" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 906718000 </us-gaap:OperatingIncomeLoss>
<us-gaap:ShareBasedCompensation id="ID_495" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_IntersegmentEliminationMember" unitRef="USD" decimals="-3"> 0 </us-gaap:ShareBasedCompensation>
<us-gaap:AssetImpairmentCharges id="ID_496" contextRef="FROM_Jul01_2013_TO_Sep30_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 0 </us-gaap:AssetImpairmentCharges>
<us-gaap:DisposalGroupNotDiscontinuedOperationGainLossOnDisposal id="ID_497" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_BusinessAcquisitionAxis_cik0000739708_AlohaStationTrustLlcMember" unitRef="USD" decimals="-5"> 43500000 </us-gaap:DisposalGroupNotDiscontinuedOperationGainLossOnDisposal>
<us-gaap:AmortizationOfIntangibleAssets id="ID_498" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-5"> 263400000 </us-gaap:AmortizationOfIntangibleAssets>
<us-gaap:SecuredDebt id="ID_499" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_ReceivablesBasedFacility1Member" unitRef="USD" decimals="-3"> 247000000 </us-gaap:SecuredDebt>
<us-gaap:DebtInstrumentInterestRateTerms id="ID_500" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_NotesDue2019Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_PriorityGuaranteeNotesMember"> Payable semi-annually in arrears on June 15 and December 15 of each year </us-gaap:DebtInstrumentInterestRateTerms>
<us-gaap:LongTermDebt id="ID_501" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_SeniorNotesDue2016Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_IheartcommunicationsLegacyNotesMember" unitRef="USD" decimals="-3"> 250000000 </us-gaap:LongTermDebt>
<us-gaap:LongTermDebt id="ID_502" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_CcwhSeniorBSubordinatedNotesDue2020Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_SubisidarySeniorNotesMember" unitRef="USD" decimals="-3"> 1925000000 </us-gaap:LongTermDebt>
<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 id="ID_503" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_LineOfCreditFacilityAxis_cik0000739708_SeniorSecuredCreditFacilityMember_us-gaap_VariableRateAxis_us-gaap_FederalFundsEffectiveSwapRateMember" unitRef="pure" decimals="3"> 0.005 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
<us-gaap:EquityMethodInvestmentRealizedGainLossOnDisposal id="ID_504" contextRef="FROM_Jan01_2014_TO_Mar31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_PartnershipInterestMember" unitRef="USD" decimals="-5"> -2400000 </us-gaap:EquityMethodInvestmentRealizedGainLossOnDisposal>
<us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains id="ID_505" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_EligibleItemOrGroupForFairValueOptionAxis_us-gaap_CostmethodInvestmentsMember" unitRef="USD" decimals="-3"> 0 </us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains>
<us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains id="ID_506" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 1609000 </us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains>
<us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan id="ID_507" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_cik0000739708_CcFincoLlcMember_us-gaap_StatementClassOfStockAxis_us-gaap_CommonClassAMember" unitRef="USD" decimals="-5"> 48800000 </us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan>
<us-gaap:StockRepurchaseProgramAuthorizedAmount1 id="ID_508" contextRef="AS_OF_Aug09_2010_Entity_0000739708_us-gaap_StatementClassOfStockAxis_us-gaap_CommonClassAMember" unitRef="USD" decimals="-6"> 100000000 </us-gaap:StockRepurchaseProgramAuthorizedAmount1>
<cik0000739708:IncreaseDecreaseInEquityMethodInvestmentDueToCurrencyTranslation id="ID_509" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_cik0000739708_ArnMember" unitRef="USD" decimals="-3"> -37068000 </cik0000739708:IncreaseDecreaseInEquityMethodInvestmentDueToCurrencyTranslation>
<us-gaap:OtherGeneralAndAdministrativeExpense id="ID_510" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherGeneralAndAdministrativeExpense>
<us-gaap:RetainedEarningsAccumulatedDeficit id="ID_511" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -11682390000 </us-gaap:RetainedEarningsAccumulatedDeficit>
<us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax id="ID_512" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -33001000 </us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
<us-gaap:NetCashProvidedByUsedInFinancingActivities id="ID_513" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -398001000 </us-gaap:NetCashProvidedByUsedInFinancingActivities>
<us-gaap:AssetRetirementObligationRevisionOfEstimate id="ID_514" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_RegulatoryAssetAxis_us-gaap_AssetRetirementObligationCostsMember" unitRef="USD" decimals="-3"> 806000 </us-gaap:AssetRetirementObligationRevisionOfEstimate>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue id="ID_515" contextRef="AS_OF_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember" unitRef="USD" decimals="-3"> 13956000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
<us-gaap:GoodwillWrittenOffRelatedToSaleOfBusinessUnit id="ID_516" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 456000 </us-gaap:GoodwillWrittenOffRelatedToSaleOfBusinessUnit>
<us-gaap:OtherGeneralAndAdministrativeExpense id="ID_517" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_CorporateAndOtherMember" unitRef="USD" decimals="-3"> 313514000 </us-gaap:OtherGeneralAndAdministrativeExpense>
<us-gaap:IncreaseDecreaseInInterestPayableNet id="ID_518" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 88560000 </us-gaap:IncreaseDecreaseInInterestPayableNet>
<us-gaap:CurrentIncomeTaxExpenseBenefit id="ID_519" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 36353000 </us-gaap:CurrentIncomeTaxExpenseBenefit>
<us-gaap:Revenues id="ID_520" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_AllOtherSegmentsMember" unitRef="USD" decimals="-3"> 281879000 </us-gaap:Revenues>
<us-gaap:OtherNoncashIncomeExpense id="ID_521" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> -14234000 </us-gaap:OtherNoncashIncomeExpense>
<us-gaap:OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax id="ID_522" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentMember" unitRef="USD" decimals="-3"> -3317000 </us-gaap:OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax>
<us-gaap:OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax id="ID_523" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax>
<us-gaap:OtherIndefiniteLivedIntangibleAssets id="ID_524" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 1066748000 </us-gaap:OtherIndefiniteLivedIntangibleAssets>
<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest id="ID_525" contextRef="FROM_Apr01_2014_TO_Jun30_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -172400000 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest>
<us-gaap:IncomeTaxExpenseBenefit id="ID_526" contextRef="FROM_Jul01_2013_TO_Sep30_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -73802000 </us-gaap:IncomeTaxExpenseBenefit>
<us-gaap:AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax id="ID_527" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 0 </us-gaap:AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax>
<us-gaap:StockIssuedDuringPeriodValueOther id="ID_528" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> -17622000 </us-gaap:StockIssuedDuringPeriodValueOther>
<us-gaap:DeferredRevenue id="ID_529" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 23734000 </us-gaap:DeferredRevenue>
<us-gaap:OtherNoncashIncomeExpense id="ID_530" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -19904000 </us-gaap:OtherNoncashIncomeExpense>
<us-gaap:StockholdersEquityOther id="ID_531" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_dei_LegalEntityAxis_us-gaap_NoncontrollingInterestMember" unitRef="USD" decimals="-3"> -12531000 </us-gaap:StockholdersEquityOther>
<us-gaap:PropertyPlantAndEquipmentTextBlock id="ID_532" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Land, buildings and improvements</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 731,925 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 723,268 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Structures</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,999,582 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,021,152 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Towers, transmitters and studio equipment</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 453,044 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 440,612 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Furniture and other equipment</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 536,255 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 473,995 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Construction in progress</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 95,671 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 123,814 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,816,477 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,782,841 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Less: accumulated depreciation</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,117,413 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,885,211 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Property, plant and equipment, net</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,699,064 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,897,630 </font></td></tr></table></div>
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<us-gaap:RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure id="ID_568" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Revenue Recognition</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' > revenue is recognized as advertisements or programs are broadcast and is</font><font style='font-family:Times New Roman;font-size:10pt;' > generally billed monthly. Outdoor advertising contracts typically cover periods of a few weeks up to one year and are generally billed monthly. Revenue for outdoor advertising</font><font style='font-family:Times New Roman;font-size:10pt;' > space rental</font><font style='font-family:Times New Roman;font-size:10pt;' > is recognized ratably over the term of the contract. Advertisin</font><font style='font-family:Times New Roman;font-size:10pt;' >g revenue is reported net of agency commissions. Agency commissions are calculated based on a stated percentage applied to gross billing revenue for the Company’s </font><font style='font-family:Times New Roman;font-size:10pt;' >media and entertainment</font><font style='font-family:Times New Roman;font-size:10pt;' > and outdoor operations. Payments received in advance of being earne</font><font style='font-family:Times New Roman;font-size:10pt;' >d are recorded as deferred income.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times;font-size:10pt;' >Revenue arrangements may</font><font style='font-family:Times;font-size:10pt;' > contain multiple products and services and revenues are allocated based on the relative fair value of each delivered item and recognized in accordance with the applicable revenue recognitio</font><font style='font-family:Times;font-size:10pt;' >n criteria for the specific unit of accounting.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Barter transactions represent the exchange of advertising spots or display space for merchandise</font><font style='font-family:Times New Roman;font-size:10pt;' >,</font><font style='font-family:Times New Roman;font-size:10pt;' > services</font><font style='font-family:Times New Roman;font-size:10pt;' > or other assets</font><font style='font-family:Times New Roman;font-size:10pt;' >. These transactions are recorded at the estimated fair market value of the advertising spots or d</font><font style='font-family:Times New Roman;font-size:10pt;' >isplay space or the fair value of the merchandise or services received, whichever is most readily determinable. Revenue is recognized on barter and trade transactions when the advertisements are broadcasted or displayed. Expenses are recorded ratably ove</font><font style='font-family:Times New Roman;font-size:10pt;' >r a period that estimates when the merchandise</font><font style='font-family:Times New Roman;font-size:10pt;' >,</font><font style='font-family:Times New Roman;font-size:10pt;' > service</font><font style='font-family:Times New Roman;font-size:10pt;' > or other assets</font><font style='font-family:Times New Roman;font-size:10pt;' > received is utilized, or when the event occurs. Barter and trade revenues and expenses from continuing operations are included in consolidated revenue and selling, general and administrative expens</font><font style='font-family:Times New Roman;font-size:10pt;' >es, respectively. Barter and trade revenues and expenses from continuing operations were as follows:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:15pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In millions)</font></td><td colspan='8' rowspan='1' style='width:222pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:222pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font></td></tr><tr style='height:12.75pt;' ><td style='width:318pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Barter and trade revenues</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 69.4 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 66.0 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 56.5 </font></td></tr><tr style='height:12.75pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Barter and trade expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 68.1 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 58.5 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 58.8 </font></td></tr></table></div>
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<div><p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;font-weight:bold;margin-left:0pt;' >NOTE 4 – ASSET RETIREMENT OBLIGATION</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company’s asset retirement obligation is reported in “Other long-term liabilities” with the current portion recorded in “Accrued liabilities” and relates to its obligation to dismantle and remove outdoor </font><font style='font-family:Times New Roman;font-size:10pt;' >advertising displays </font><font style='font-family:Times New Roman;font-size:10pt;' >and radio broadcasting towers </font><font style='font-family:Times New Roman;font-size:10pt;' >from leased land and to reclaim the site to its original condition upon the termination or non-renew</font><font style='font-family:Times New Roman;font-size:10pt;' >al of a lease</font><font style='font-family:Times New Roman;font-size:10pt;' > or contract</font><font style='font-family:Times New Roman;font-size:10pt;' >. When the liability is recorded, the cost is capitalized as part of the related long-lived assets’ carrying </font><font style='font-family:Times New Roman;font-size:10pt;' >value. </font><font style='font-family:Times New Roman;font-size:10pt;' >Due to the high rate of lease renewals over a long period of time, the calculation assumes that all related assets will be removed at some period over the next 50</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >years.</font><font style='font-family:Times New Roman;font-size:10pt;' > An estimate of third-party cost information is used with respect to the disma</font><font style='font-family:Times New Roman;font-size:10pt;' >ntling of the structures and the reclamation of the site. The interest rate used to calculate the present value of such costs over the retirement period is based on an estimated risk adjusted cr</font><font style='font-family:Times New Roman;font-size:10pt;' >edit rate for the same period.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The following table presents </font><font style='font-family:Times New Roman;font-size:10pt;' >the activity related to the Company’s asset retirement obligation:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='5' rowspan='1' style='width:160.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:160.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;border-color:Black;min-width:370.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Beginning balance</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 59,380 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 56,849 </font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Adjustment due to changes in estimates </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,391)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 806 </font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Accretion of liability</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7,858 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,106 </font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Liabilities settled</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,802)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,323)</font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign Currency</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,834)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (58)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Ending balance</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 54,211 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 59,380 </font></td></tr></table></div>
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<us-gaap:OtherGeneralAndAdministrativeExpense id="ID_634" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherGeneralAndAdministrativeExpense>
<us-gaap:MarketableSecuritiesPolicy id="ID_635" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Other</font><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;' > Investments</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Other investments are composed primarily of equity securities. These securities are classified as available-for-sale or trading and are carried at fair value based on quoted </font><font style='font-family:Times New Roman;font-size:10pt;' >market prices. Securities are carried at historical value when quoted market prices are unavailable. The net unrealized gains or losses on the available-for-sale securities, net of tax, are reported in accumulated other comprehensive loss as a component </font><font style='font-family:Times New Roman;font-size:10pt;' >of </font><font style='font-family:Times New Roman;font-size:10pt;' >shareholder’s</font><font style='font-family:Times New Roman;font-size:10pt;' > deficit. In addition, the Company holds investments that do not have quoted market prices. The Company periodically assesses the value of available-for-sale and non-marketable securities and records impairment </font><font style='font-family:Times New Roman;font-size:10pt;' >charges in the statement of comprehensive loss for any decline in value that is determined to be other-than-temporary. The average cost method is used to compute the realized gains and losses on sales of equity securities.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company periodically assess</font><font style='font-family:Times New Roman;font-size:10pt;' >es the value of its available-for-sale securities. </font><font style='font-family:Times New Roman;font-size:10pt;' >Based on these assessments, </font><font style='font-family:Times New Roman;font-size:10pt;' >there were </font><font style='font-family:Times New Roman;font-size:10pt;' >no impairments </font><font style='font-family:Times New Roman;font-size:10pt;' >during the years ended</font><font style='font-family:Times New Roman;font-size:10pt;' > December 31,</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >. T</font><font style='font-family:Times New Roman;font-size:10pt;' >he Company concluded that other-than-temporary impairments existed at December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2012</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >and recorded </font><font style='font-family:Times New Roman;font-size:10pt;' >a </font><font style='font-family:Times New Roman;font-size:10pt;' >noncash impairment charge of $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million</font><font style='font-family:Times New Roman;font-size:10pt;' > during the year ended December 31, 2012</font><font style='font-family:Times New Roman;font-size:10pt;' >. Such charge</font><font style='font-family:Times New Roman;font-size:10pt;' > is</font><font style='font-family:Times New Roman;font-size:10pt;' > recorded on the statement of </font><font style='font-family:Times New Roman;font-size:10pt;' >comprehensive loss</font><font style='font-family:Times New Roman;font-size:10pt;' > in “</font><font style='font-family:Times New Roman;font-size:10pt;' >Gain (</font><font style='font-family:Times New Roman;font-size:10pt;' >Loss</font><font style='font-family:Times New Roman;font-size:10pt;' >)</font><font style='font-family:Times New Roman;font-size:10pt;' > on marketable securities”.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
</us-gaap:MarketableSecuritiesPolicy>
<us-gaap:EquityMethodInvestments id="ID_636" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_cik0000739708_AllOthersMember" unitRef="USD" decimals="-3"> 9493000 </us-gaap:EquityMethodInvestments>
<us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders id="ID_637" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentMember" unitRef="USD" decimals="-3"> 0 </us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1 id="ID_638" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember"> P04Y01M </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1>
<us-gaap:AssetsCurrent id="ID_639" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 2180143000 </us-gaap:AssetsCurrent>
<us-gaap:DirectOperatingCosts id="ID_640" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 2498400000 </us-gaap:DirectOperatingCosts>
<us-gaap:DepreciationDepletionAndAmortization id="ID_641" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 710898000 </us-gaap:DepreciationDepletionAndAmortization>
<us-gaap:IncomeTaxDisclosureTextBlock id="ID_642" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;font-weight:bold;margin-left:0pt;' >NOTE 9 – INCOME TAXES </font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Significant components of the provision for income tax benefit (expense) are as follows:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='8' rowspan='1' style='width:233.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:233.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;border-color:Black;min-width:295.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Current - Federal</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (503)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,586 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 61,655 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Current - foreign</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (27,256)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (48,466)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (48,579)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Current - state</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,193 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,527 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,408)</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;border-color:Black;min-width:295.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total current benefit (expense)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (24,566)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (36,353)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,668 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:295.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred - Federal</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (29,284)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 126,905 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 261,014 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred - foreign</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,308 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,932 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 27,970 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred - state</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,947)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 22,333 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15,627 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:295.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total deferred benefit (expense)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (33,923)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 158,170 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 304,611 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Income tax benefit (expense)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (58,489)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 121,817 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 308,279 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Current </font><font style='font-family:Times New Roman;font-size:10pt;' >tax expense of $24.6 million was recorded for 2014 as compared to a current tax expense of $36.4 million for 2013. The change in current tax was primarily due to a reduction in unrecognized tax benefits during 2014, which resulted from the </font><font style='font-family:Times New Roman;font-size:10pt;' >expiration of </font><font style='font-family:Times New Roman;font-size:10pt;' >statute</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > of limitations to </font><font style='font-family:Times New Roman;font-size:10pt;' >assess taxes </font><font style='font-family:Times New Roman;font-size:10pt;' >in the United Kingdom and several state jurisdictions. This decrease in unrecognized tax benefits resulted in a reduction to current tax expense of $</font><font style='font-family:Times New Roman;font-size:10pt;' >35.4</font><font style='font-family:Times New Roman;font-size:10pt;' > million during 2014</font><font style='font-family:Times New Roman;font-size:10pt;' >. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Current tax expense of</font><font style='font-family:Times New Roman;font-size:10pt;' > $36.4 million was recorded for 2013 as compared to a current tax benefit of $3.7 million for 2012. The change in current tax was primarily due to the Company’s settlement of U.S. federal and foreign tax examinations during 2012. Pursuant to the settleme</font><font style='font-family:Times New Roman;font-size:10pt;' >nts, the Company recorded a reduction to current income tax expense of approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >67.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million during 2012 to reflect the net current tax benefits of the settlements.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Deferred tax expense of $33.9 million was recorded for 2014 compared with deferred t</font><font style='font-family:Times New Roman;font-size:10pt;' >ax benefit of $158.2 million for 2013. The change in deferred tax is primarily due to the valuation allowance of $</font><font style='font-family:Times New Roman;font-size:10pt;' >339.8</font><font style='font-family:Times New Roman;font-size:10pt;' > million recorded against the Company’s current period federal and state net operating losses during 2014</font><font style='font-family:Times New Roman;font-size:10pt;' >. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Deferred tax benefit of $1</font><font style='font-family:Times New Roman;font-size:10pt;' >58.</font><font style='font-family:Times New Roman;font-size:10pt;' >2</font><font style='font-family:Times New Roman;font-size:10pt;' > million for 2013 primarily relates to cancellation of debt income recognized during the year as a result of certain debt restructuring transactions, and is lower when compared with the deferred tax benefit of $304.6 million for 2012. The decrease in d</font><font style='font-family:Times New Roman;font-size:10pt;' >eferred tax benefit in 2013 is primarily due to the valuation allowance of $</font><font style='font-family:Times New Roman;font-size:10pt;' >143.5</font><font style='font-family:Times New Roman;font-size:10pt;' > million recorded against a portion of the Company’s federal and state net operating losses</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Significant components of the Company's deferred tax liabilities and assets as of December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' > are as follows</font><font style='font-family:Times New Roman;font-size:10pt;' >:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred tax liabilities: </font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Intangibles and fixed assets</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,335,584 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,402,168 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Long-term debt</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 119,887 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 183,615 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Investments in nonconsolidated affiliates</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,121 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other investments</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,575 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,759 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,857 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,655 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total deferred tax liabilities</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,471,024 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,599,197 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred tax assets: </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Accrued expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 111,884 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 106,651 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Investments in nonconsolidated affiliates</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,824 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net operating loss carryforwards</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,445,340 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,287,239 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Bad debt reserves</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,346 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,726 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 34,017 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 35,527 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total gross deferred tax assets</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,600,587 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,440,967 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Less: Valuation allowance</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 655,658 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 327,623 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total deferred tax assets</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 944,929 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,113,344 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net deferred tax liabilities</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,526,095 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,485,853 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Included in the Company’s net deferred tax liabilities are $</font><font style='font-family:Times New Roman;font-size:10pt;' >37.8</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >52.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million of current net deferred tax assets for </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively. The Company presents these assets in “Other current assets” on its consolidated balance </font><font style='font-family:Times New Roman;font-size:10pt;' >sheets. The remaining $1.</font><font style='font-family:Times New Roman;font-size:10pt;' >6</font><font style='font-family:Times New Roman;font-size:10pt;' > billion and $1.</font><font style='font-family:Times New Roman;font-size:10pt;' >5</font><font style='font-family:Times New Roman;font-size:10pt;' > billion of net deferred tax liabilities for </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively, are presented in “Deferred tax liabilities” on the consolidated balance sheets.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company’s net foreign deferred tax liabilities </font><font style='font-family:Times New Roman;font-size:10pt;' >were $</font><font style='font-family:Times New Roman;font-size:10pt;' >1</font><font style='font-family:Times New Roman;font-size:10pt;' >3.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >19.8</font><font style='font-family:Times New Roman;font-size:10pt;' > million for the periods ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The deferred tax liability related to intangibles and fixed assets primarily relates to the difference in book and tax basis of acquire</font><font style='font-family:Times New Roman;font-size:10pt;' >d FCC licenses, billboard permits and tax deductible goodwill created from the Company’s various stock acquisitions. In accordance with ASC 350-10, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;' >Intangibles—Goodwill and Other</font><font style='font-family:Times New Roman;font-size:10pt;' >, the Company does not amortize FCC licenses and billboard permits. As a res</font><font style='font-family:Times New Roman;font-size:10pt;' >ult, this deferred tax liability will not reverse over time unless the Company recognizes future impairment charges related to its FCC licenses, permits and tax deductible goodwill or sells its FCC licenses or permits. As the Company continues to amortize</font><font style='font-family:Times New Roman;font-size:10pt;' > its tax basis in its FCC licenses, permits and tax deductible goodwill, the deferred tax liability will increase over time.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >At December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, the Company had recorded net operating loss </font><font style='font-family:Times New Roman;font-size:10pt;' >carryforwards</font><font style='font-family:Times New Roman;font-size:10pt;' > (tax effected) for federal and state income tax</font><font style='font-family:Times New Roman;font-size:10pt;' > purposes of approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.</font><font style='font-family:Times New Roman;font-size:10pt;' >3</font><font style='font-family:Times New Roman;font-size:10pt;' > billion, expiring in various amounts through </font><font style='font-family:Times New Roman;font-size:10pt;' >20</font><font style='font-family:Times New Roman;font-size:10pt;' >34</font><font style='font-family:Times New Roman;font-size:10pt;' >. The Company expects to realize the benefits of </font><font style='font-family:Times New Roman;font-size:10pt;' >a portion</font><font style='font-family:Times New Roman;font-size:10pt;' > of its deferred tax assets attributable to federal and state net operating losses </font><font style='font-family:Times New Roman;font-size:10pt;' >based</font><font style='font-family:Times New Roman;font-size:10pt;' > upon </font><font style='font-family:Times New Roman;font-size:10pt;' >expected</font><font style='font-family:Times New Roman;font-size:10pt;' > future taxabl</font><font style='font-family:Times New Roman;font-size:10pt;' >e income from deferred tax liabilities that reverse in the relevant federal and state jurisdictions and </font><font style='font-family:Times New Roman;font-size:10pt;' >carryforward</font><font style='font-family:Times New Roman;font-size:10pt;' > periods. </font><font style='font-family:Times New Roman;font-size:10pt;' >As of December 31, 2014, t</font><font style='font-family:Times New Roman;font-size:10pt;' >he Company has recorded a partial valuation allowance of $</font><font style='font-family:Times New Roman;font-size:10pt;' >487.1</font><font style='font-family:Times New Roman;font-size:10pt;' > million against these deferred tax asse</font><font style='font-family:Times New Roman;font-size:10pt;' >ts </font><font style='font-family:Times New Roman;font-size:10pt;' >attributable to </font><font style='font-family:Times New Roman;font-size:10pt;' >federal and state net operating losses. In addition, the Company had recorded deferred tax assets for foreign net operating loss </font><font style='font-family:Times New Roman;font-size:10pt;' >carryforwards</font><font style='font-family:Times New Roman;font-size:10pt;' > (tax effected) of approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >153.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million </font><font style='font-family:Times New Roman;font-size:10pt;' >which are</font><font style='font-family:Times New Roman;font-size:10pt;' > offset in part by an associated valu</font><font style='font-family:Times New Roman;font-size:10pt;' >ation allowance of $</font><font style='font-family:Times New Roman;font-size:10pt;' >146.4</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million. Additional deferred tax valuation allowance of $</font><font style='font-family:Times New Roman;font-size:10pt;' >2</font><font style='font-family:Times New Roman;font-size:10pt;' >2.1</font><font style='font-family:Times New Roman;font-size:10pt;' > million offsets other foreign deferred tax assets that are not expected to be realized. Realization of these foreign deferred tax assets is dependent upon the Company</font><font style='font-family:Times New Roman;font-size:10pt;' >’s ability to generate future taxable income in appropriate tax jurisdictions </font><font style='font-family:Times New Roman;font-size:10pt;' >and </font><font style='font-family:Times New Roman;font-size:10pt;' >carryforward</font><font style='font-family:Times New Roman;font-size:10pt;' > periods</font><font style='font-family:Times New Roman;font-size:10pt;' >. Due to the Company’s evaluation of negative factors including particular negative evidence of cumulative losses in these jurisdictions, the Company con</font><font style='font-family:Times New Roman;font-size:10pt;' >tinues to record valuation allowances on the foreign deferred tax assets that are not expected to be realized. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company expects to realize </font><font style='font-family:Times New Roman;font-size:10pt;' >its remaining gross deferred tax assets</font><font style='font-family:Times New Roman;font-size:10pt;' > based upon</font><font style='font-family:Times New Roman;font-size:10pt;' > its assessment of deferred tax liabilities that will reverse </font><font style='font-family:Times New Roman;font-size:10pt;' >in the same </font><font style='font-family:Times New Roman;font-size:10pt;' >carryforward</font><font style='font-family:Times New Roman;font-size:10pt;' > period and jurisdiction and are of the same character as the net operating loss </font><font style='font-family:Times New Roman;font-size:10pt;' >carryforwards</font><font style='font-family:Times New Roman;font-size:10pt;' > and temporary differences that give rise to the deferred tax assets. Any deferred tax liabilities associated with acquired FCC licenses,</font><font style='font-family:Times New Roman;font-size:10pt;' > billboard permits and tax-deductible goodwill intangible assets are not relied upon </font><font style='font-family:Times New Roman;font-size:10pt;' >as a source of future taxable income, </font><font style='font-family:Times New Roman;font-size:10pt;' >as these intangible assets have an indefinite life.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >At December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, net deferred tax liabilities include a deferred tax </font><font style='font-family:Times New Roman;font-size:10pt;' >asset of $</font><font style='font-family:Times New Roman;font-size:10pt;' >2</font><font style='font-family:Times New Roman;font-size:10pt;' >8.9</font><font style='font-family:Times New Roman;font-size:10pt;' > million relating to stock-based compensation expense under ASC 718-10, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;' >Compensation—Stock Compensation</font><font style='font-family:Times New Roman;font-size:10pt;' >.  Full realization of this deferred tax asset requires stock options to be exercised at a price equaling or exceeding the sum of the grant</font><font style='font-family:Times New Roman;font-size:10pt;' > price plus the fair value of the option at the grant date and restricted stock to vest at a price equaling or exceeding the fair market value at the grant date. Accordingly, there can be no assurance that the stock price of the Company’s common stock wil</font><font style='font-family:Times New Roman;font-size:10pt;' >l rise to levels sufficient to realize the entire deferred tax benefit currently reflected in its balance sheet.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The reconciliation of income tax computed at the U.S. Federal statutory tax rates </font><font style='font-family:Times New Roman;font-size:10pt;' >to income tax benefit </font><font style='font-family:Times New Roman;font-size:10pt;' >is:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;border-color:Black;min-width:126.75pt;' ></td><td colspan='14' rowspan='1' style='width:402pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:402pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='4' rowspan='1' style='width:129pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:129pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='4' rowspan='1' style='width:129pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:129pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='4' rowspan='1' style='width:129pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:129pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;border-color:Black;min-width:126.75pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amount</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Percent</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amount</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Percent</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amount</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Percent</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Income tax benefit at</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:126.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >statutory rates</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 246,284 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >35%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 246,867 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >35%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 251,814 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >35%</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >State income taxes, net of </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;border-color:Black;min-width:126.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >federal tax effect</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 26,518 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32,768 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,218 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1%</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign income taxes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,074 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (22,640)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(3%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,782 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2%</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Nondeductible items</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,533)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,870)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,617)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Changes in valuation allowance </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:126.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >and other estimates</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (333,641)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(47%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (135,161)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(19%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 50,697 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7%</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,191)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,853 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,615)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Income tax benefit (expense)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (58,489)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(8%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 121,817 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >17%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 308,279 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >43%</font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The </font><font style='font-family:Times New Roman;font-size:10pt;' >Company’s effective tax rate for the year ended December 31, 2014 is (8%). The effective tax rate for 2014 was impacted by the $339.8 million valuation allowance recorded during the period as additional deferred tax expense. The valuation allowance </font><font style='font-family:Times New Roman;font-size:10pt;' >was recorded against the Company’s current period federal and state net operating losses due to the uncertainty of the ability to utilize those losses in future periods. This expense was partially offset by $</font><font style='font-family:Times New Roman;font-size:10pt;' >28.9</font><font style='font-family:Times New Roman;font-size:10pt;' > million in net tax benefits associated wit</font><font style='font-family:Times New Roman;font-size:10pt;' >h a decrease in unrecognized tax benefits resulting from the</font><font style='font-family:Times New Roman;font-size:10pt;' > expiration of</font><font style='font-family:Times New Roman;font-size:10pt;' > statute of limitations to </font><font style='font-family:Times New Roman;font-size:10pt;' >assess taxes</font><font style='font-family:Times New Roman;font-size:10pt;' > in the United Kingdom and several state jurisdictions. Foreign income before income taxes was approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >97.2</font><font style='font-family:Times New Roman;font-size:10pt;' > million for 2014, and it sh</font><font style='font-family:Times New Roman;font-size:10pt;' >ould be noted that with limited exceptions, tax rates in our foreign jurisdictions are lower than that of the U.S. federal statutory rate</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >A tax benefit was recorded for the year ended December 31, 2013 of 17%. The effective tax rate for 2013 was impacte</font><font style='font-family:Times New Roman;font-size:10pt;' >d by </font><font style='font-family:Times New Roman;font-size:10pt;' >the $143.5 million valuation allowance recorded during the period as additional deferred tax expense. The valuation allowance was recorded against a portion of the federal and state net operating losses due to the uncertainty of the ability to utiliz</font><font style='font-family:Times New Roman;font-size:10pt;' >e those losses in future periods. This expense was partially offset by $</font><font style='font-family:Times New Roman;font-size:10pt;' >20.2</font><font style='font-family:Times New Roman;font-size:10pt;' > million in net tax benefits recorded during the period due to the settlement of certain U.S. federal and state tax examinations during the year. </font><font style='font-family:Times New Roman;font-size:10pt;' >Foreign income before income tax</font><font style='font-family:Times New Roman;font-size:10pt;' >es was approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >48.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million for 2013.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >A tax benefit was recorded for the year ended December 31, 2012 of 43%. The effective tax rate for 2012 was impacted by </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s settlement of U.S. federal and foreign tax examinations during the year. P</font><font style='font-family:Times New Roman;font-size:10pt;' >ursuant to the settlements, the Company recorded a reduction to income tax expense of approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >60.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million to reflect the net tax benefits of the settlements. This benefit was partially offset by additional tax recorded during 2012 related to the w</font><font style='font-family:Times New Roman;font-size:10pt;' >rite-off of deferred tax assets associated with the vesting of certain equity awards.</font><font style='font-family:Times New Roman;font-size:10pt;' > Foreign income before income taxes was approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >84.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million for 2012.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company continues to record interest and penalties related to unrecognized tax benefits</font><font style='font-family:Times New Roman;font-size:10pt;' > in current income tax expense.  The total amount of interest accrued at December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' > was $</font><font style='font-family:Times New Roman;font-size:10pt;' >40.8</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >49.4</font><font style='font-family:Times New Roman;font-size:10pt;' > million, respectively. The total amount of unrecognized tax benefits and accrued interest and penalties at December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' > was $</font><font style='font-family:Times New Roman;font-size:10pt;' >147.7</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >1</font><font style='font-family:Times New Roman;font-size:10pt;' >7</font><font style='font-family:Times New Roman;font-size:10pt;' >8</font><font style='font-family:Times New Roman;font-size:10pt;' >.8</font><font style='font-family:Times New Roman;font-size:10pt;' > million, respectively, of which $</font><font style='font-family:Times New Roman;font-size:10pt;' >110.4</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >1</font><font style='font-family:Times New Roman;font-size:10pt;' >31.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million is included in “Other long-term liabilities”, and $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >11.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million is included in “Accrued Expenses” on the Company’s consolida</font><font style='font-family:Times New Roman;font-size:10pt;' >ted balance sheets, respectively. In addition, $</font><font style='font-family:Times New Roman;font-size:10pt;' >35.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million </font><font style='font-family:Times New Roman;font-size:10pt;' >and $</font><font style='font-family:Times New Roman;font-size:10pt;' >36.1</font><font style='font-family:Times New Roman;font-size:10pt;' > million </font><font style='font-family:Times New Roman;font-size:10pt;' >of unrecognized tax benefits are recorded net with the Company’s deferred tax assets for its net operating losses as opposed to being recorded in “Other long-term liabilities” </font><font style='font-family:Times New Roman;font-size:10pt;' >at December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively</font><font style='font-family:Times New Roman;font-size:10pt;' >. The total amount of unrecognized tax benefits at December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' > that, if recognized, would impact the effective income tax rate is $</font><font style='font-family:Times New Roman;font-size:10pt;' >68.8</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >10</font><font style='font-family:Times New Roman;font-size:10pt;' >0.1</font><font style='font-family:Times New Roman;font-size:10pt;' > million, respectively.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:372pt;text-align:left;border-color:Black;min-width:372pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:160.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:160.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:372pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:372pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrecognized Tax Benefits</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:372pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:372pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at beginning of period</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 129,375 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 138,437 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Increases for tax position taken in the current year</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 13,848 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,004 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Increases for tax positions taken in previous years</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,003 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 13,163 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Decreases for tax position taken in previous years</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,764)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (21,928)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Decreases due to settlements with tax authorities</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,181)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,113)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Decreases due to lapse of statute of limitations</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (24,367)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (11,188)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:372pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:372pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at end of period</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 106,914 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 129,375 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The </font><font style='font-family:Times New Roman;font-size:10pt;' >Company and its subsidiaries file income tax returns in the United States federal jurisdiction and various state and foreign jurisdictions. During 2014, the statute of limitations for certain tax years expired in the United Kingdom and several state jurisdictions resulting in a reduction to unrecognized tax benefits of $24.4 million, excluding interest. Also during 2014, the Company settled certain U.S. federal and state examinations with taxing authorities, resulting in decreases in unrecognized tax benefits relating to cash tax payments of $8.2 million. All federal income tax matters through 2008 are closed and the Company has effectively settled the 2009 and 2010 examinations with the IRS and is awaiting final approval of the settlemen</font><font style='font-family:Times New Roman;font-size:10pt;' >t from the Joint Committee on Taxation. The IRS is currently auditing the Company’s tax returns for the 2011 and 2012 periods. Substantially all material state, local, and foreign income tax matters have been concluded for years through</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >2005</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div>
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<div><p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;font-weight:bold;margin-left:0pt;' >NOTE 6 – FAIR VALUE MEASUREMENTS</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >ASC</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >820-10-35 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >1, defined as observable inputs such as quoted prices in active markets; </font><font style='font-family:Times New Roman;font-size:10pt;' >Level</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own </font><font style='font-family:Times New Roman;font-size:10pt;' >assumptions.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Marketable Equity Securities</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company’s marketable equity securities </font><font style='font-family:Times New Roman;font-size:10pt;' >are measured at fair value on each reporting date.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The marketable equity securities are measured at fair value using quoted prices in active marke</font><font style='font-family:Times New Roman;font-size:10pt;' >ts. Due to the fact that the inputs used to measure the marketable equity securities at fair value are observable, the Company has categorized the fair value measurements</font><font style='font-family:Times New Roman;font-size:10pt;' > of the securities as Level 1.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The cost, unrealized holding gains or losses, and fai</font><font style='font-family:Times New Roman;font-size:10pt;' >r value of the Company’s </font><font style='font-family:Times New Roman;font-size:10pt;' >investments at December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >are</font><font style='font-family:Times New Roman;font-size:10pt;' > as follows:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:249pt;text-align:left;border-color:Black;min-width:249pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;text-align:center;border-color:Black;min-width:65.25pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Gross</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Gross</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;text-align:center;border-color:Black;min-width:65.25pt;' ></td></tr><tr style='height:15pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:241.5pt;text-align:left;border-color:Black;min-width:241.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amortized </font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Fair</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:249pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:249pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Investments</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cost</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Losses</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Gains</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Value</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:249pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:249pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:241.5pt;text-align:left;border-color:Black;min-width:241.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Available-for-sale</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 369 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,609 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,978 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:241.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:241.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other cost investments</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,269 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,269 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:249pt;text-align:left;border-color:Black;min-width:249pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,638 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,609 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,247 </font></td></tr><tr style='height:21.75pt;' ><td colspan='2' rowspan='1' style='width:249pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:249pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:241.5pt;text-align:left;border-color:Black;min-width:241.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Available-for-sale</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 659 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,283 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,942 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:241.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:241.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other cost investments</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,783 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,783 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:249pt;text-align:left;border-color:Black;min-width:249pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,442 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,283 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,725 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >During 2013, the Company sold shares of Sirius XM Radio, Inc. held by it for $135.5 million. </font><font style='font-family:Times New Roman;font-size:10pt;' >In connection with the sale of shares of Sirius XM Radio, Inc., a realized gain of $</font><font style='font-family:Times New Roman;font-size:10pt;' >130.9</font><font style='font-family:Times New Roman;font-size:10pt;' > million and income tax expense of $</font><font style='font-family:Times New Roman;font-size:10pt;' >48.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million were reclassified out of</font><font style='font-family:Times New Roman;font-size:10pt;' > accumulated other comprehensive loss into “Gain on marketable securities” and “Income tax benefit,” respectively. The net difference of $</font><font style='font-family:Times New Roman;font-size:10pt;' >82.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million is reported as a reduction of “Other comprehensive income (loss).”</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Other cost investments include vario</font><font style='font-family:Times New Roman;font-size:10pt;' >us investments in companies for which there is no rea</font><font style='font-family:Times New Roman;font-size:10pt;' >dily determinable market value. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > recognized other-than-temporary impairments of $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million on a cost investment for the year ended December 31, 2012, which was a non-cash impairment charge </font><font style='font-family:Times New Roman;font-size:10pt;' >recorded in </font><font style='font-family:Times New Roman;font-size:10pt;' >“Loss on marketable securities</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;' >”</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
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<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='4' rowspan='1' style='width:393.75pt;text-align:left;border-color:Black;min-width:393.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Future Maturities of Long-term Debt</font></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='4' rowspan='1' style='width:393.75pt;text-align:left;border-color:Black;min-width:393.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Future maturities of long-term debt at December 31, 2014 are as follows:</font></td></tr><tr style='height:7.5pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(in thousands)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,604 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2016</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,126,920 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2017</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,208 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2018</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 909,272 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2019</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,300,043 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Thereafter</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,212,868 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:93.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font></sup></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,560,915 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><sup><font style='font-family:Times New Roman;font-size:10pt;margin-left:18pt;' >(1)</font></sup><font style='font-family:Times New Roman;font-size:10pt;' > Excludes purchase accounting adjustments and original issue discount of $</font><font style='font-family:Times New Roman;font-size:10pt;' >234.9</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million, which is amortized through interest expense over the life of the underlying debt obligations.</font></p></div>
</us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock>
<us-gaap:SecuredDebt id="ID_728" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_TermLoanFacilitiesMember" unitRef="USD" decimals="-3"> 8225754000 </us-gaap:SecuredDebt>
<us-gaap:SecuredDebt id="ID_729" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_NotesDue2022Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_PriorityGuaranteeNotesMember" unitRef="USD" decimals="-3"> 0 </us-gaap:SecuredDebt>
<us-gaap:LongTermDebt id="ID_730" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_SeniorNotesDue2015Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_IheartcommunicationsLegacyNotesMember" unitRef="USD" decimals="-3"> 250000000 </us-gaap:LongTermDebt>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths id="ID_731" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 3604000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths>
<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 id="ID_732" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_TermLoanDMember_us-gaap_LineOfCreditFacilityAxis_cik0000739708_SeniorSecuredCreditFacilityMember_us-gaap_VariableRateAxis_us-gaap_EurodollarMember" unitRef="pure" decimals="4"> 0.0675 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
<cik0000739708:PercentageOfEligibleAccountsReceivable id="ID_733" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_LineOfCreditFacilityAxis_cik0000739708_ReceivablesBasedFacility1Member" unitRef="pure" decimals="2"> 0.9 </cik0000739708:PercentageOfEligibleAccountsReceivable>
<us-gaap:RepaymentsOfOtherDebt id="ID_734" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_SeniorNotesDue2018Member" unitRef="USD" decimals="-5"> 120000000 </us-gaap:RepaymentsOfOtherDebt>
<us-gaap:PaymentsForAdvanceToAffiliate id="ID_735" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 3051000 </us-gaap:PaymentsForAdvanceToAffiliate>
<us-gaap:Revenues id="ID_736" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_ConsolidationItemsAxis_us-gaap_OperatingSegmentsMember_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 0 </us-gaap:Revenues>
<us-gaap:Revenues id="ID_737" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_ConsolidationItemsAxis_us-gaap_OperatingSegmentsMember" unitRef="USD" decimals="-3"> 66719000 </us-gaap:Revenues>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues id="ID_738" contextRef="FROM_Jan06_2015_TO_Jan07_2015_Entity_0000739708_dei_LegalEntityAxis_cik0000739708_CcFincoLlcMember_us-gaap_StatementClassOfStockAxis_us-gaap_CommonClassAMember" unitRef="shares" decimals="0"> 2000000 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber id="ID_739" contextRef="AS_OF_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember" unitRef="shares" decimals="-3"> 1553000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
<us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued id="ID_740" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-5"> 147700000 </us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued>
<us-gaap:OperatingIncomeLoss id="ID_741" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 946968000 </us-gaap:OperatingIncomeLoss>
<us-gaap:Goodwill id="ID_742" contextRef="AS_OF_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorMember" unitRef="USD" decimals="-3"> 571932000 </us-gaap:Goodwill>
<us-gaap:GoodwillOtherChanges id="ID_743" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorMember" unitRef="USD" decimals="-3"> 0 </us-gaap:GoodwillOtherChanges>
<us-gaap:StockholdersEquity id="ID_744" contextRef="AS_OF_Dec31_2013_Entity_0000739708_dei_LegalEntityAxis_us-gaap_NoncontrollingInterestMember" unitRef="USD" decimals="-3"> 245531000 </us-gaap:StockholdersEquity>
<cik0000739708:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsFairValueOfOptionsVested id="ID_745" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember" unitRef="USD" decimals="-5"> 7100000 </cik0000739708:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsFairValueOfOptionsVested>
<us-gaap:DirectOperatingCosts id="ID_746" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 2534365000 </us-gaap:DirectOperatingCosts>
<us-gaap:NetIncomeLoss id="ID_747" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -793761000 </us-gaap:NetIncomeLoss>
<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest id="ID_748" contextRef="AS_OF_Dec31_2012_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="USD" decimals="-3"> 303997000 </us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
<us-gaap:NetIncomeLossAttributableToNoncontrollingInterest id="ID_749" contextRef="FROM_Jan01_2013_TO_Mar31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -6116000 </us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
<us-gaap:OtherOperatingIncomeExpenseNet id="ID_750" contextRef="FROM_Jan01_2014_TO_Mar31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 165000 </us-gaap:OtherOperatingIncomeExpenseNet>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice id="ID_751" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentCompanyMember" unitRef="USD_Per_Share" decimals="INF"> 36 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice>
<cik0000739708:BarterAndTradeRevenuesAndExpensesTableTextBlock id="ID_752" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:15pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In millions)</font></td><td colspan='8' rowspan='1' style='width:222pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:222pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font></td></tr><tr style='height:12.75pt;' ><td style='width:318pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Barter and trade revenues</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 69.4 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 66.0 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 56.5 </font></td></tr><tr style='height:12.75pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Barter and trade expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 68.1 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 58.5 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 58.8 </font></td></tr></table></div>
</cik0000739708:BarterAndTradeRevenuesAndExpensesTableTextBlock>
<us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate id="ID_753" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="pure" decimals="2"> 0.35 </us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
<us-gaap:StockholdersEquity id="ID_754" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -9665208000 </us-gaap:StockholdersEquity>
<us-gaap:SellingGeneralAndAdministrativeExpense id="ID_755" contextRef="FROM_Jul01_2013_TO_Sep30_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 411354000 </us-gaap:SellingGeneralAndAdministrativeExpense>
<us-gaap:GoodwillAcquiredDuringPeriod id="ID_756" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorMember" unitRef="USD" decimals="-3"> 0 </us-gaap:GoodwillAcquiredDuringPeriod>
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment id="ID_757" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 130154000 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
<dei:CurrentFiscalYearEndDate id="ID_758" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708"> --12-31 </dei:CurrentFiscalYearEndDate>
<us-gaap:FiniteLivedIntangibleAssetsGross id="ID_759" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_cik0000739708_TransitStreetFurnitureAndOtherOutdoorContractualRightsMember" unitRef="USD" decimals="-3"> 777521000 </us-gaap:FiniteLivedIntangibleAssetsGross>
<us-gaap:OtherGeneralAndAdministrativeExpense id="ID_760" contextRef="FROM_Oct01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 67812000 </us-gaap:OtherGeneralAndAdministrativeExpense>
<us-gaap:ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy id="ID_761" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Accounts Receivable</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >Accounts receivable are recorded at the invoiced amount</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, net of reserves for sales returns and allowances, and allowances for doubtful accounts</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company evaluates the collectability of its accounts receivable ba</font><font style='font-family:Times New Roman;font-size:10pt;' >sed on a combination of factors. In circumstances where it is aware of a specific customer’s inability to meet its financial obligations, it records a specific reserve to reduce the amounts recorded to what it believes will be collected. For all other cu</font><font style='font-family:Times New Roman;font-size:10pt;' >stomers, it recognizes reserves for bad debt based on historical experience of bad debts as a percent of revenue for each business unit, adjusted for relative improvements or deteriorations in the </font><font style='font-family:Times New Roman;font-size:10pt;' >agings</font><font style='font-family:Times New Roman;font-size:10pt;' > and changes in current economic conditions. The Com</font><font style='font-family:Times New Roman;font-size:10pt;' >pany believes its concentration of credit risk is limited due to the large number and the geographic diversification of its customers.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
</us-gaap:ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy>
<us-gaap:Goodwill id="ID_762" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_BusinessAcquisitionAxis_cik0000739708_AlohaStationTrustLlcMember" unitRef="USD" decimals="-5"> 17900000 </us-gaap:Goodwill>
<us-gaap:ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill id="ID_763" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_RegulatoryAssetAxis_cik0000739708_BillboardPermitsMember" unitRef="USD" decimals="-5"> 2500000 </us-gaap:ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill>
<us-gaap:SecuredDebt id="ID_764" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_SubsidiarySeniorRevolvingCreditFacilityMember" unitRef="USD" decimals="-3"> 0 </us-gaap:SecuredDebt>
<us-gaap:SecuredDebt id="ID_765" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_OtherSecuredSubsidiaryLongTermDebtMember" unitRef="USD" decimals="-3"> 19257000 </us-gaap:SecuredDebt>
<us-gaap:LongTermDebt id="ID_766" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_PurchaseAccountingAdjustmentsAndOriginalIssueDiscountMember" unitRef="USD" decimals="-3"> -322392000 </us-gaap:LongTermDebt>
<us-gaap:DebtInstrumentMaturityDate id="ID_767" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_TermLoanDMember_us-gaap_LongtermDebtTypeAxis_cik0000739708_TermLoanFacilitiesMember"> 2019-01-30 </us-gaap:DebtInstrumentMaturityDate>
<us-gaap:DebtInstrumentInterestRateStatedPercentage id="ID_768" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_NotesDue2022Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_PriorityGuaranteeNotesMember" unitRef="pure" decimals="4"> 0.09 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 id="ID_769" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_TermLoanDMember_us-gaap_LineOfCreditFacilityAxis_cik0000739708_SeniorSecuredCreditFacilityMember_us-gaap_VariableRateAxis_us-gaap_BaseRateMember" unitRef="pure" decimals="4"> 0.0575 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
<us-gaap:DebtInstrumentMaturityDate id="ID_770" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_CcwhSeniorBNotesDue2022Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_SubisidarySeniorNotesMember"> 2022-11-15 </us-gaap:DebtInstrumentMaturityDate>
<us-gaap:Revenues id="ID_771" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_ConsolidationItemsAxis_us-gaap_OperatingSegmentsMember_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 2473000 </us-gaap:Revenues>
<us-gaap:AmortizationOfFinancingCostsAndDiscounts id="ID_772" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 164097000 </us-gaap:AmortizationOfFinancingCostsAndDiscounts>
<us-gaap:GoodwillWrittenOffRelatedToSaleOfBusinessUnit id="ID_773" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorMember" unitRef="USD" decimals="-3"> 0 </us-gaap:GoodwillWrittenOffRelatedToSaleOfBusinessUnit>
<us-gaap:AssetRetirementObligationsDescription id="ID_774" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708"> Due to the high rate of lease renewals over a long period of time, the calculation assumes that all related assets will be removed at some period over the next 50 years. </us-gaap:AssetRetirementObligationsDescription>
<us-gaap:IncomeTaxReconciliationStateAndLocalIncomeTaxes id="ID_775" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> -6218000 </us-gaap:IncomeTaxReconciliationStateAndLocalIncomeTaxes>
<us-gaap:Revenues id="ID_776" contextRef="FROM_Jan01_2013_TO_Mar31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 1343058000 </us-gaap:Revenues>
<us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures id="ID_777" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3"> -423000 </us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures>
<us-gaap:IncreaseDecreaseInAccountsReceivable id="ID_778" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 29605000 </us-gaap:IncreaseDecreaseInAccountsReceivable>
<us-gaap:EquityMethodInvestments id="ID_779" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 238805000 </us-gaap:EquityMethodInvestments>
<us-gaap:GuaranteesTextBlock id="ID_780" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;font-weight:bold;margin-left:0pt;' >NOTE 8 – GUARANTEES</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >As of December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > had outstanding surety bonds and commercial standby letters of credit of $</font><font style='font-family:Times New Roman;font-size:10pt;' >47.7</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >113.9</font><font style='font-family:Times New Roman;font-size:10pt;' > million, respectively, of which </font><font style='font-family:Times New Roman;font-size:10pt;' >no letters of credit were cash secured. These</font><font style='font-family:Times New Roman;font-size:10pt;' > letters of credit and surety bonds relate to various operational matters including insurance, bid, concession and performance bonds as well as other items.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >As of December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > had outstanding ba</font><font style='font-family:Times New Roman;font-size:10pt;' >nk guarantees of $</font><font style='font-family:Times New Roman;font-size:10pt;' >55.1</font><font style='font-family:Times New Roman;font-size:10pt;' > million. Bank guarantees in the amount of $</font><font style='font-family:Times New Roman;font-size:10pt;' >1</font><font style='font-family:Times New Roman;font-size:10pt;' >5.2</font><font style='font-family:Times New Roman;font-size:10pt;' > million</font><font style='font-family:Times New Roman;font-size:10pt;' > are backed by cash collateral.</font></p></div>
</us-gaap:GuaranteesTextBlock>
<dei:EntityPublicFloat id="ID_781" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 0 </dei:EntityPublicFloat>
<us-gaap:GoodwillAcquiredDuringPeriod id="ID_782" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorMember" unitRef="USD" decimals="-3"> 0 </us-gaap:GoodwillAcquiredDuringPeriod>
<us-gaap:ProfitLoss id="ID_783" contextRef="FROM_Jan01_2013_TO_Mar31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -209119000 </us-gaap:ProfitLoss>
<us-gaap:SignificantAccountingPoliciesTextBlock id="ID_784" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' ><font style='font-family:Times New Roman;font-size:12pt;font-weight:bold;margin-left:0pt;' >NOTE 1 </font><font style='font-family:Calibri;font-size:12pt;font-weight:bold;' >–</font><font style='font-family:Times New Roman;font-size:12pt;font-weight:bold;' > SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</font></p><p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Nature of Business</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >iHeartCommunications</font><font style='font-family:Times New Roman;font-size:10pt;' >, Inc. is a Texas corporation (the “Company”) with all of its shares of common stock held by iHeartMedia Capital I, LLC, an indirect, wholly owned subsidiary of iHeartMedia, Inc. (“Parent”). Parent was formed in May 2007 by private equity funds sponsored by Bain Capital Partners, LLC and Thomas H. Lee Partners, L.P. (together, the “Sponsors”) for the purpose of acquiring the business of the Company. The acquisition was completed on July 30, 2008 pursuant to the Agreement and Plan of Merger, dated November 16, 2006, as amended on April 18, 2007, May 17, 2007 and May 13, 2008 (the “Merger Agreement”). Upon the consummation of the merger, iHeartMedia, Inc. became a public company and the Company was no longer a public company.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company’s reportable operating segments are </font><font style='font-family:Times New Roman;font-size:10pt;' >iHeartMedia</font><font style='font-family:Times New Roman;font-size:10pt;' > (“</font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' >”), </font><font style='font-family:Times New Roman;font-size:10pt;' >Americas</font><font style='font-family:Times New Roman;font-size:10pt;' > outdoor advertising (“Americas outdoor”), and International outdoor advertising (“International outdoor”). The </font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' > segmen</font><font style='font-family:Times New Roman;font-size:10pt;' >t provides media and entertainment services via broadcast and digital delivery. The Americas outdoor and International outdoor segments provide outdoor advertising services in their respective geographic regions using various digital and traditional displ</font><font style='font-family:Times New Roman;font-size:10pt;' >ay types. Included in the “Other” </font><font style='font-family:Times New Roman;font-size:10pt;' >category </font><font style='font-family:Times New Roman;font-size:10pt;' >are the Company’s media representation business, Katz Media Group, as well as other general support services and initiatives, which are ancillary to its other businesses</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Use of Estimates</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The preparation of the c</font><font style='font-family:Times New Roman;font-size:10pt;' >onsolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates, judgments, and assumptions that affect the amounts reported in the consolidated financial statements and accom</font><font style='font-family:Times New Roman;font-size:10pt;' >panying notes including, but not limited to, legal, tax and insurance accruals. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could dif</font><font style='font-family:Times New Roman;font-size:10pt;' >fer from those estimates.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Principles of Consolidation</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The consolidated financial statements include the accounts of the Company and its subsidiaries. Also included in the consolidated financial statements are entities for which the Company has a controll</font><font style='font-family:Times New Roman;font-size:10pt;' >ing financial interest or is the primary beneficiary. Investments in companies in which the Company owns </font><font style='font-family:Times New Roman;font-size:10pt;' >20</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >percent to </font><font style='font-family:Times New Roman;font-size:10pt;' >50</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >percent of the voting common stock or otherwise exercises significant influence over operating and financial policies of the Company </font><font style='font-family:Times New Roman;font-size:10pt;' >are accounted for using the equity method of accounting. All significant intercompany accounts have bee</font><font style='font-family:Times New Roman;font-size:10pt;' >n eliminated in consolidation.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Certain prior period amounts have been reclassified to conform to the </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > presentation.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The</font><font style='font-family:Times New Roman;font-size:10pt;' > Company is the beneficiary of two trusts created to comply with Federal Communications Commission (“FCC”) ownership rules.  The radio stations owned by the trusts are managed by independent trustees.  The trustees are marketing these stations for sale, an</font><font style='font-family:Times New Roman;font-size:10pt;' >d the stations will have to be sold unless any stations may be owned by the Company under then-current FCC rules, in which case the trusts will be terminated with respect to such stations.  The trust agreements stipulate that the Company must fund any oper</font><font style='font-family:Times New Roman;font-size:10pt;' >ating shortfalls of the trust activities, and any excess cash flow generated by the trusts is distributed to the Company.  The Company is also the beneficiary of proceeds from the sale of stations held in the trusts.  The Company consolidates the trusts in</font><font style='font-family:Times New Roman;font-size:10pt;' > accordance with ASC 810-10, which requires an enterprise involved with variable interest entities to perform an analysis to determine whether the enterprise’s variable interest or interests give it a controlling financial interest in the variable interest</font><font style='font-family:Times New Roman;font-size:10pt;' > entity, as the trusts were determined to be a variable interest entity and the Company is the primary beneficiary under the trusts</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Cash and Cash Equivalents</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Cash and cash equivalents include all highly liquid investments with an original maturity of thr</font><font style='font-family:Times New Roman;font-size:10pt;' >ee months or less.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Accounts Receivable</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >Accounts receivable are recorded at the invoiced amount</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, net of reserves for sales returns and allowances, and allowances for doubtful accounts</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company evaluates the collectability of its accounts receivable ba</font><font style='font-family:Times New Roman;font-size:10pt;' >sed on a combination of factors. In circumstances where it is aware of a specific customer’s inability to meet its financial obligations, it records a specific reserve to reduce the amounts recorded to what it believes will be collected. For all other cu</font><font style='font-family:Times New Roman;font-size:10pt;' >stomers, it recognizes reserves for bad debt based on historical experience of bad debts as a percent of revenue for each business unit, adjusted for relative improvements or deteriorations in the </font><font style='font-family:Times New Roman;font-size:10pt;' >agings</font><font style='font-family:Times New Roman;font-size:10pt;' > and changes in current economic conditions. The Com</font><font style='font-family:Times New Roman;font-size:10pt;' >pany believes its concentration of credit risk is limited due to the large number and the geographic diversification of its customers.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Business Combinations</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company accounts for its business combinations under the acquisition method of accounting. The</font><font style='font-family:Times New Roman;font-size:10pt;' > total cost of an acquisition is allocated to the underlying identifiable net assets, based on their respective estimated fair values. The excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill. Dete</font><font style='font-family:Times New Roman;font-size:10pt;' >rmining the fair value of assets acquired and liabilities assumed requires management's judgment and often involves the use of significant estimates and assumptions, including assumptions with respect to future cash inflows and outflows, discount rates, as</font><font style='font-family:Times New Roman;font-size:10pt;' >set lives and market multiples, among other items. Various acquisition agreements may include contingent purchase consideration based on performance requirements of the investee. The Company accounts for these payments in conformity with the provisions o</font><font style='font-family:Times New Roman;font-size:10pt;' >f ASC 805-20-30, which establish the requirements related to recognition of certain assets and liabilities arising from contingencies.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Property, Plant and Equipment</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Property, plant and equipment are stated at cost. Depreciation is computed using the strai</font><font style='font-family:Times New Roman;font-size:10pt;' >ght-line method at rates that, in the opinion of management, are adequate to allocate the cost of such assets over their estimated useful lives, which are as follows:</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Buildings and improvements – 10 to 39 years</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > Structures – 5 to 15 years</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > Towers, </font><font style='font-family:Times New Roman;font-size:10pt;' >transmitters and studio equipment – 7 to 20 years</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > Furniture and other equipment – 3 to 20 years</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > Leasehold improvements – shorter of economic life or lease term assuming renewal periods, if appropriate</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >For assets associated with a lease or contract, the </font><font style='font-family:Times New Roman;font-size:10pt;' >assets are depreciated at the shorter of the economic life or the lease or contract term, assuming renewal periods, if appropriate. Expenditures for maintenance and repairs are charged to operations as incurred, whereas expenditures for renewal and better</font><font style='font-family:Times New Roman;font-size:10pt;' >ments are capitalized.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company tests for possible impairment of property, plant, and equipment whenever events and circumstances indicate that depreciable assets might be impaired and the undiscounted cash flows estimated to be generated by </font><font style='font-family:Times New Roman;font-size:10pt;' >those asse</font><font style='font-family:Times New Roman;font-size:10pt;' >ts are less than the carrying amounts of those assets. When specific assets are determined to be unrecoverable, the cost basis of the asset is reduced to reflect the current fair market value.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Land Leases</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Most of the Company’s outdoor advertising </font><font style='font-family:Times New Roman;font-size:10pt;' >structures are located on leased land. Americas outdoor land leases are typically paid in advance for periods ranging from one to 12 months. International outdoor land leases are paid both in advance and in arrears, for periods ranging from one to 12 mon</font><font style='font-family:Times New Roman;font-size:10pt;' >ths. Most international street furniture display faces are operated through contracts with municipalities for up to 20 years. The leased land and street furniture contracts often include a percent of revenue to be paid along with a base rent payment. Pr</font><font style='font-family:Times New Roman;font-size:10pt;' >epaid land leases are recorded as an asset and expensed ratably over the related rental term and rent payments in arrears are recorded as an accrued liability.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Intangible Assets</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company’s indefinite-lived intangible assets include FCC broadcast licens</font><font style='font-family:Times New Roman;font-size:10pt;' >es in its </font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' > segment and billboard permits in its Americas outdoor advertising segment. The Company’s indefinite-lived intangible assets are not subject to amortization, but are tested for impairment at least annually. The Company tests for possible impa</font><font style='font-family:Times New Roman;font-size:10pt;' >irment of indefinite-lived intangible assets whenever events or changes in circumstances, such as a significant reduction in operating cash flow or a dramatic change in the manner for which the asset is intended to be used indicate that the carrying amount</font><font style='font-family:Times New Roman;font-size:10pt;' > of the asset may not be recoverable.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company performs its annual impairment test for its FCC licenses and permits using a direct valuation technique as prescribed in ASC 805-20-S99. The Company engages </font><font style='font-family:Times New Roman;font-size:10pt;' >Mesirow</font><font style='font-family:Times New Roman;font-size:10pt;' > Financial Consulting LLC (“</font><font style='font-family:Times New Roman;font-size:10pt;' >Mesirow</font><font style='font-family:Times New Roman;font-size:10pt;' > Fina</font><font style='font-family:Times New Roman;font-size:10pt;' >ncial”), a third party valuation firm, to assist the Company in the development of these assumptions and the Company’s determination of the fair value of its FCC licenses and permits.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Other intangible assets include definite-lived intangible assets and pe</font><font style='font-family:Times New Roman;font-size:10pt;' >rmanent easements. The Company’s definite-lived intangible assets include primarily transit and street furniture contracts, talent and representation contracts, customer and advertiser relationships, and site-leases, all of which are amortized over the re</font><font style='font-family:Times New Roman;font-size:10pt;' >spective lives of the agreements, or over the period of time the assets are expected to contribute directly or indirectly to the Company’s future cash flows. The Company periodically reviews the appropriateness of the amortization periods related to its d</font><font style='font-family:Times New Roman;font-size:10pt;' >efinite-lived intangible assets. These assets are recorded at cost. Permanent easements are indefinite-lived intangible assets which include certain rights to use real property not owned by the Company.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company tests for possible impairment of other </font><font style='font-family:Times New Roman;font-size:10pt;' >intangible assets whenever events and circumstances indicate that they might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts of those assets. When specific assets are determined to b</font><font style='font-family:Times New Roman;font-size:10pt;' >e unrecoverable, the cost basis of the asset is reduced to reflect the current fair market value.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Goodwill</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >At least annually, the Company performs its impairment test for each reporting unit’s goodwill. </font><font style='font-family:Times New Roman;font-size:10pt;' >T</font><font style='font-family:Times New Roman;font-size:10pt;' >he Company use</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > a discounted cash flow model to de</font><font style='font-family:Times New Roman;font-size:10pt;' >termine if the carrying value of the reporting unit, including goodwill, is less than the fair value of the reporting unit. The Company identified its reporting units in accordance with ASC 350-20-55. The U.S. radio markets are aggregated into a single rep</font><font style='font-family:Times New Roman;font-size:10pt;' >orting unit and the Company’s U.S. outdoor advertising markets are aggregated into a single reporting unit for purposes of the goodwill impairment test. The Company also determined that within its Americas outdoor segment, Canada constitutes a separate re</font><font style='font-family:Times New Roman;font-size:10pt;' >porting unit and each country in its International outdoor segment constitutes a separate reporting unit. The Company </font><font style='font-family:Times New Roman;font-size:10pt;' >had no impairment of goodwill in </font><font style='font-family:Times New Roman;font-size:10pt;' >201</font><font style='font-family:Times New Roman;font-size:10pt;' >4</font><font style='font-family:Times New Roman;font-size:10pt;' >. The Company recognized a non-cash impairment charge to goodwill of $</font><font style='font-family:Times New Roman;font-size:10pt;' >10.7</font><font style='font-family:Times New Roman;font-size:10pt;' > million based on declinin</font><font style='font-family:Times New Roman;font-size:10pt;' >g future cash flows expected in one country in the International outdoor segment for 2013. The Company had no impairment of goodwill for 2012.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Nonconsolidated Affiliates</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >In general, investments in which the Company owns 20 percent to 50 percent of the co</font><font style='font-family:Times New Roman;font-size:10pt;' >mmon stock or otherwise exercises significant influence over the investee are accounted for under the equity method. The Company does not recognize gains or losses upon the issuance of securities by any of its equity method investees. The Company </font><font style='font-family:Times New Roman;font-size:10pt;' >reviews</font><font style='font-family:Times New Roman;font-size:10pt;' > the value of equity method investments and records impairment charges in the statement of operations as a component of “Equity in earnings (loss) of nonconsolidated affiliates” for any decline in value that is determined to be other-than-temporary.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Other</font><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;' > Investments</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Other investments are composed primarily of equity securities. These securities are classified as available-for-sale or trading and are carried at fair value based on quoted </font><font style='font-family:Times New Roman;font-size:10pt;' >market prices. Securities are carried at historical value when quoted market prices are unavailable. The net unrealized gains or losses on the available-for-sale securities, net of tax, are reported in accumulated other comprehensive loss as a component </font><font style='font-family:Times New Roman;font-size:10pt;' >of </font><font style='font-family:Times New Roman;font-size:10pt;' >shareholder’s</font><font style='font-family:Times New Roman;font-size:10pt;' > deficit. In addition, the Company holds investments that do not have quoted market prices. The Company periodically assesses the value of available-for-sale and non-marketable securities and records impairment </font><font style='font-family:Times New Roman;font-size:10pt;' >charges in the statement of comprehensive loss for any decline in value that is determined to be other-than-temporary. The average cost method is used to compute the realized gains and losses on sales of equity securities.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company periodically assess</font><font style='font-family:Times New Roman;font-size:10pt;' >es the value of its available-for-sale securities. </font><font style='font-family:Times New Roman;font-size:10pt;' >Based on these assessments, </font><font style='font-family:Times New Roman;font-size:10pt;' >there were </font><font style='font-family:Times New Roman;font-size:10pt;' >no impairments </font><font style='font-family:Times New Roman;font-size:10pt;' >during the years ended</font><font style='font-family:Times New Roman;font-size:10pt;' > December 31,</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >. T</font><font style='font-family:Times New Roman;font-size:10pt;' >he Company concluded that other-than-temporary impairments existed at December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2012</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >and recorded </font><font style='font-family:Times New Roman;font-size:10pt;' >a </font><font style='font-family:Times New Roman;font-size:10pt;' >noncash impairment charge of $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million</font><font style='font-family:Times New Roman;font-size:10pt;' > during the year ended December 31, 2012</font><font style='font-family:Times New Roman;font-size:10pt;' >. Such charge</font><font style='font-family:Times New Roman;font-size:10pt;' > is</font><font style='font-family:Times New Roman;font-size:10pt;' > recorded on the statement of </font><font style='font-family:Times New Roman;font-size:10pt;' >comprehensive loss</font><font style='font-family:Times New Roman;font-size:10pt;' > in “</font><font style='font-family:Times New Roman;font-size:10pt;' >Gain (</font><font style='font-family:Times New Roman;font-size:10pt;' >Loss</font><font style='font-family:Times New Roman;font-size:10pt;' >)</font><font style='font-family:Times New Roman;font-size:10pt;' > on marketable securities”.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Derivative Instruments and Hedging Activities</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Prior to the expir</font><font style='font-family:Times New Roman;font-size:10pt;' >ation of the Company’s interest rate swap agreement on September 30, 2013, the provisions of ASC 815-10 required the Company to recognize it as either an asset or liability in the consolidated balance sheet at fair value. The accounting for changes in the</font><font style='font-family:Times New Roman;font-size:10pt;' > fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship, and further, on the type of hedging relationship. The interest rate swap was designated and qualified as a hedging instrument</font><font style='font-family:Times New Roman;font-size:10pt;' >, and was characterized as a cash flow hedge. The Company formally documented all relationships between hedging instruments and hedged items, as well as its risk management objectives and strategies for undertaking various hedge transactions. The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > formally assessed, both at inception and at least quarterly thereafter prior to expiration, whether the derivatives that were used in hedging transactions were highly effective in offsetting changes in either the fair value or cash flows of the hedged ite</font><font style='font-family:Times New Roman;font-size:10pt;' >m</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Financial Instruments</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Due to their short maturity, the carrying amounts of accounts and notes receivable, accounts payable, accrued liabilities, and short-term borrowings approximated their fair values at December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Income Taxes</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company accounts for income taxes using the liability method. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting bases and tax bases of assets and liabilities and are measured using </font><font style='font-family:Times New Roman;font-size:10pt;' >the enacted tax rates expected to apply to taxable income in the periods in which the deferred tax asset or liability is expected to be realized or settled. Deferred tax assets are reduced by valuation allowances if the Company believes it is more likely </font><font style='font-family:Times New Roman;font-size:10pt;' >than not that some portion or the entire asset will not be realized. Generally all earnings from the Company’s foreign operations are permanently reinvested and not distributed. The Company has not provided U.S. federal income taxes for temporary differen</font><font style='font-family:Times New Roman;font-size:10pt;' >ces with respect to investments in foreign subsidiaries, which at December 31, 2014 currently result in tax basis amounts greater than the financial reporting basis. It is not apparent that these unrecognized deferred tax assets will reverse in the forese</font><font style='font-family:Times New Roman;font-size:10pt;' >eable future. If any excess cash held by our foreign subsidiaries were needed to fund operations in the United States, we could presently repatriate available funds without a requirement to accrue or pay U.S. taxes. This is a result of significant curren</font><font style='font-family:Times New Roman;font-size:10pt;' >t and historic deficits in our foreign earnings and profits, which gives us flexibility to make future cash distributions as non-taxable returns of capital. We regularly review our tax liabilities on amounts that may be distributed in future periods and p</font><font style='font-family:Times New Roman;font-size:10pt;' >rovide for foreign withholding and other current and deferred taxes on any such amounts. The determination of the amount of federal income taxes, if any, that might become due in the event that our foreign earnings are distributed is not practicable</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Revenue Recognition</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' > revenue is recognized as advertisements or programs are broadcast and is</font><font style='font-family:Times New Roman;font-size:10pt;' > generally billed monthly. Outdoor advertising contracts typically cover periods of a few weeks up to one year and are generally billed monthly. Revenue for outdoor advertising</font><font style='font-family:Times New Roman;font-size:10pt;' > space rental</font><font style='font-family:Times New Roman;font-size:10pt;' > is recognized ratably over the term of the contract. Advertisin</font><font style='font-family:Times New Roman;font-size:10pt;' >g revenue is reported net of agency commissions. Agency commissions are calculated based on a stated percentage applied to gross billing revenue for the Company’s </font><font style='font-family:Times New Roman;font-size:10pt;' >media and entertainment</font><font style='font-family:Times New Roman;font-size:10pt;' > and outdoor operations. Payments received in advance of being earne</font><font style='font-family:Times New Roman;font-size:10pt;' >d are recorded as deferred income.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times;font-size:10pt;' >Revenue arrangements may</font><font style='font-family:Times;font-size:10pt;' > contain multiple products and services and revenues are allocated based on the relative fair value of each delivered item and recognized in accordance with the applicable revenue recognitio</font><font style='font-family:Times;font-size:10pt;' >n criteria for the specific unit of accounting.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Barter transactions represent the exchange of advertising spots or display space for merchandise</font><font style='font-family:Times New Roman;font-size:10pt;' >,</font><font style='font-family:Times New Roman;font-size:10pt;' > services</font><font style='font-family:Times New Roman;font-size:10pt;' > or other assets</font><font style='font-family:Times New Roman;font-size:10pt;' >. These transactions are recorded at the estimated fair market value of the advertising spots or d</font><font style='font-family:Times New Roman;font-size:10pt;' >isplay space or the fair value of the merchandise or services received, whichever is most readily determinable. Revenue is recognized on barter and trade transactions when the advertisements are broadcasted or displayed. Expenses are recorded ratably ove</font><font style='font-family:Times New Roman;font-size:10pt;' >r a period that estimates when the merchandise</font><font style='font-family:Times New Roman;font-size:10pt;' >,</font><font style='font-family:Times New Roman;font-size:10pt;' > service</font><font style='font-family:Times New Roman;font-size:10pt;' > or other assets</font><font style='font-family:Times New Roman;font-size:10pt;' > received is utilized, or when the event occurs. Barter and trade revenues and expenses from continuing operations are included in consolidated revenue and selling, general and administrative expens</font><font style='font-family:Times New Roman;font-size:10pt;' >es, respectively. Barter and trade revenues and expenses from continuing operations were as follows:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:15pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In millions)</font></td><td colspan='8' rowspan='1' style='width:222pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:222pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font></td></tr><tr style='height:12.75pt;' ><td style='width:318pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Barter and trade revenues</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 69.4 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 66.0 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 56.5 </font></td></tr><tr style='height:12.75pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Barter and trade expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 68.1 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 58.5 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 58.8 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Advertising Expense</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company records advertising expense as it is incurred. Advertising expenses </font><font style='font-family:Times New Roman;font-size:10pt;' >were </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >103.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million,</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >133.7</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >113.4</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million for the years ended December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Share-Based Compensation</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Under the fair value recognition provisions of ASC</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >718-10, share-based compensation cost is measured at the grant date based on the fair value of the award. For awards that vest based on service conditions, this cost is </font><font style='font-family:Times New Roman;font-size:10pt;' >recognized as expense on a straight-line basis over the vesting period. For awards that will vest based on market or performance conditions, this cost will be recognized when it becomes probable that the performance conditions will be satisfied. Determini</font><font style='font-family:Times New Roman;font-size:10pt;' >ng the fair value of share-based awards at the grant date requires assumptions and judgments about expected volatility and forfeiture rates, among other factors.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company does not have any equity incentive plans under which it grants stock awards to em</font><font style='font-family:Times New Roman;font-size:10pt;' >ployees. Employees of subsidiaries of the Company receive equity awards from Parent’s equity incentive plan or CCOH’s equity incentive plan</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Foreign Currency</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Results of operations for foreign subsidiaries and foreign equity investees are translated into U.S. dollars using the average exchange rates during the year. The assets and liabilities of those subsidiaries and investees are translated </font><font style='font-family:Times New Roman;font-size:10pt;' >into U.S. dollars using the exchange rates at the balance sheet date. The related translation adjustments are recorded in a se</font><font style='font-family:Times New Roman;font-size:10pt;' >parate component of </font><font style='font-family:Times New Roman;font-size:10pt;' >shareholder’s</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >deficit</font><font style='font-family:Times New Roman;font-size:10pt;' >, “Accumulated other comprehensive loss”. Foreign c</font><font style='font-family:Times New Roman;font-size:10pt;' >urrency transaction gains and losses are included in operations.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >New Accounting Pronouncements</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the first quarter of 2014, the Company adopted the Financial Accounting Standards Board’s (“FASB”) ASU No. 2013-04, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Obligation Is Fixed at the Reporting Date</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This update provides guidance for the recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope o</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >f this guidance is fixed at the reporting date. The amendments </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >wer</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >e effective for fiscal years (and interim periods within) beginning after December 15, 2013 and </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >we</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >re to be applied retrospectively to all prior periods presented for such obligations that exis</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >t</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ed</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > at the beginning of an entity’s fiscal year of adoption. The adoption of this guidance did not have a material effect on the Company’s consolidated financial statements. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the first quarter of 2014, the Company adopted the FASB’s ASU No. 2013-05,</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Parent’s Accounting for the Cumulative Translation Adjustment upon </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Derecognition</font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' > of Certain Subsidiaries or Groups of Assets within a Foreign Entity of an Investment in a Foreign Entity</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. The amendments </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >we</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >re effective prospectively for the fiscal years (and</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > interim periods within) beginning after December 15, 2013 and provide clarification guidance for the release of the cumulative translation adjustment under current U.S. GAAP. The adoption of this guidance did not have a material effect on the Company’s co</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >nsolidated financial statements</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the first quarter of 2014, the Company adopted the FASB’s ASU No. 2013-11, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >This update requires unrecognized tax benefits to be offset against a deferred tax asset for a net operating loss carryforward, similar tax loss or tax credit carryforward in certain situations. The amendments </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >we</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >re effective prospectively for the fiscal ye</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ars (and interim periods within) beginning after December 15, 2013. The adoption of this guidance did not have a material effect on the Company’s consolidated financial statements.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the second quarter of 2014, the FASB issued ASU No. 2014-09, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Reven</font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >ue from Contracts with Customers</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This new standard provides guidance for the recognition, measurement and disclosure of revenue resulting from contracts with customers and will supersede virtually all of the current revenue recognition guidance under U.S</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. GAAP. The standard is effective for the first interim period within annual reporting periods beginning after December 15, 2016. The Company is currently evaluating the impact of the provisions of this new standard on its financial position and results </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >of operations.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the third quarter of 2014, the FASB issued ASU No. 2014-12, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This new standard clar</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ifies that a performance target in a share-based compensation award that could be achieved after an employee completes the requisite service period should be treated as a performance condition that affects the vesting of the award. The standard is effectiv</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >e for annual periods and interim periods within those annual periods, beginning after December 15, 2015. The Company is currently evaluating the impact of the provisions of this new standard on its financial position and results of operations. </font></p></div>
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<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;margin-left:0pt;color:#000000;' >NOTE 15</font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;' > – CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > is a party to a management agreement with certain affiliates of Bain Capital Partners, LLC and Thomas</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >H. Lee Partners, L.P. (together, the “Sponsors”) and certain other parties pursuant to which such affiliates of the Sponsors will provide management and financial advisory services until </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2018</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. These agreements require management fees to be paid to such af</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >filiates of the Sponsors for such services at a rate not greater than $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >15.0</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >million per year, plus reimbursable expenses. </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >For the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, the Company recognized </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >management fees and reimbursable </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >expenses of $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >15.2</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > million</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >15.8</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > million </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >and $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >15.9</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > million, respectively.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' >Stock Purchases</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >On August</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9, 2010, </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > announced that its board of directors approved a stock purchase program under which </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > or its subsidiaries may purch</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ase up to an aggregate of $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >100</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >.0</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >million of the Class</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >A common stock of </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Parent</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > and/or the Class</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >A common stock of CCOH. The stock purchase program does not have a fixed expiration date and may be modified, suspended or terminated at any time at </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > discretion. </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >During 2014, CC </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Finco</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > purchased </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5,000,000</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > shares of CCOH’s Class A common stock for approximately $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >48.8</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > million.</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > During 2012, CC </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Finco</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > purchased </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >111,291</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > shares of Parent’s Class A common stock for $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >692,887</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >During 2011, C</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >C</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Finco</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > purchased </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1,553,971</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >shares of CCOH’s Class</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >A common stock through open market purchases for approximately $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >16.4</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >million.</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2014, an aggregate $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >34.2</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > million was available under the stock purchase program to purchase Class A common </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >stock of Parent and/or the Class A common stock of CCOH.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >On January 7, 2015 CC </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Finco</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > purchased an additional </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2,000,000</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > shares of CCOH’s Class A common stock for $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >20.4</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > million.</font></p></div>
</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
<us-gaap:DefinedBenefitPensionPlanCurrentAndNoncurrentLiabilities id="ID_824" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 11568000 </us-gaap:DefinedBenefitPensionPlanCurrentAndNoncurrentLiabilities>
<us-gaap:OtherOperatingIncomeExpenseNet id="ID_825" contextRef="FROM_Oct01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -5678000 </us-gaap:OtherOperatingIncomeExpenseNet>
<cik0000739708:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageGrantDateFairValue id="ID_826" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_AwardTypeAxis_us-gaap_RestrictedStockMember" unitRef="USD_Per_Share" decimals="INF"> 5.02 </cik0000739708:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageGrantDateFairValue>
<us-gaap:InvestmentHoldingsTextBlock id="ID_827" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;font-weight:bold;margin-left:0pt;' >NOTE 3 – INVESTMENTS</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company’s most significant investments in nonconsolidated affiliates are listed below:</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Australian Radio Network</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company owned </font><font style='font-family:Times New Roman;font-size:10pt;' >a fifty-percent (</font><font style='font-family:Times New Roman;font-size:10pt;' >50</font><font style='font-family:Times New Roman;font-size:10pt;' >%) interest in Australian Radio Network (“ARN”), an Australian company that owns</font><font style='font-family:Times New Roman;font-size:10pt;' > and operates radio stations in Australia and New Zealand.</font><font style='font-family:Times New Roman;font-size:10pt;' > An impairment charge </font><font style='font-family:Times New Roman;font-size:10pt;' >of $</font><font style='font-family:Times New Roman;font-size:10pt;' >95.4</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million </font><font style='font-family:Times New Roman;font-size:10pt;' >was recorded </font><font style='font-family:Times New Roman;font-size:10pt;' >during the fourth quarter of 2013 to write down the investment to its estimated fair value.</font><font style='font-family:Times New Roman;font-size:10pt;' > On February 18, 2014, a subsidiary of the Company so</font><font style='font-family:Times New Roman;font-size:10pt;' >ld its </font><font style='font-family:Times New Roman;font-size:10pt;' >50</font><font style='font-family:Times New Roman;font-size:10pt;' >% interest in ARN, recognizing a loss on the sale of $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.4 </font><font style='font-family:Times New Roman;font-size:10pt;' >million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >11.5 </font><font style='font-family:Times New Roman;font-size:10pt;' >million of foreign exchange losses that were reclassified from accumulated other comprehensive income at the date of the sale.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Buspak</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company owned a </font><font style='font-family:Times New Roman;font-size:10pt;' >50</font><font style='font-family:Times New Roman;font-size:10pt;' >% interest in</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Buspak</font><font style='font-family:Times New Roman;font-size:10pt;' >, a bus advertising company in </font><font style='font-family:Times New Roman;font-size:10pt;' >Hong Kong</font><font style='font-family:Times New Roman;font-size:10pt;' >. On July 18, 2014, a subsidiary of the</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Company sold its </font><font style='font-family:Times New Roman;font-size:10pt;' >50</font><font style='font-family:Times New Roman;font-size:10pt;' >% interest in </font><font style='font-family:Times New Roman;font-size:10pt;' >Buspak</font><font style='font-family:Times New Roman;font-size:10pt;' >, recognizing a gain on the sale of $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.5 </font><font style='font-family:Times New Roman;font-size:10pt;' >million.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The following table summarizes the Company's i</font><font style='font-family:Times New Roman;font-size:10pt;' >nvestments in nonconsolidated affiliates:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:26.25pt;' ><td colspan='2' rowspan='1' style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ARN</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >All</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Others</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:329.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at December 31, 2012</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 353,062 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 17,850 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 370,912 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cash advances (repayments)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,051 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,051 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Acquisitions of investments, net</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,354 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,354 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Equity in loss</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (75,318)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,378)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (77,696)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency translation adjustment</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (37,068)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (37,064)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Distributions received</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (19,926)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,750)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (21,676)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (76)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (76)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at December 31, 2013</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 220,750 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,055 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 238,805 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cash advances (repayments)</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,452 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,452 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Acquisitions of investments, net</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,811 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,811 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Equity in earnings (loss)</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (12,678)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,262 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,416)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency transaction adjustment</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,449 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 77 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,526 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Distributions received</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (228)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,000)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,228)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Proceeds on sale</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (220,783)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (15,820)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (236,603)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,490 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (344)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,146 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at December 31, 2014</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,493 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,493 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The investments in the table above are not consolidated, but are accounted for under the equity method of accounting, whereby the Company records its investments in these entities in the balance sheet as “Other assets.” The Company's interests in their operations are recorded in the statement of </font><font style='font-family:Times New Roman;font-size:10pt;' >comprehensive loss</font><font style='font-family:Times New Roman;font-size:10pt;' > as “Equity in earnings </font><font style='font-family:Times New Roman;font-size:10pt;' >(loss) </font><font style='font-family:Times New Roman;font-size:10pt;' >o</font><font style='font-family:Times New Roman;font-size:10pt;' >f nonconsolidated affiliates</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;' >”</font></p></div>
</us-gaap:InvestmentHoldingsTextBlock>
<us-gaap:DirectOperatingCosts id="ID_828" contextRef="FROM_Jan01_2013_TO_Mar31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 597780000 </us-gaap:DirectOperatingCosts>
<us-gaap:Revenues id="ID_829" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 3131595000 </us-gaap:Revenues>
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment id="ID_830" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_IntersegmentEliminationMember" unitRef="USD" decimals="-3"> 0 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue id="ID_831" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_AwardTypeAxis_us-gaap_RestrictedStockMember" unitRef="USD_Per_Share" decimals="INF"> 3.14 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue>
<us-gaap:PaymentsToAcquireBusinessesGross id="ID_832" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_BusinessAcquisitionAxis_cik0000739708_WfnxMember" unitRef="USD" decimals="-5"> 14500000 </us-gaap:PaymentsToAcquireBusinessesGross>
<us-gaap:SecuredDebt id="ID_833" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 12818693000 </us-gaap:SecuredDebt>
<us-gaap:SecuredDebt id="ID_834" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_TermLoanEMember_us-gaap_LongtermDebtTypeAxis_cik0000739708_TermLoanFacilitiesMember" unitRef="USD" decimals="-3"> 1300000000 </us-gaap:SecuredDebt>
<us-gaap:SecuredDebt id="ID_835" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_NotesDue2019Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_PriorityGuaranteeNotesMember" unitRef="USD" decimals="-3"> 1999815000 </us-gaap:SecuredDebt>
<us-gaap:LongTermDebt id="ID_836" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_SeniorNotesDue2016Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_IheartcommunicationsLegacyNotesMember" unitRef="USD" decimals="-3"> 192900000 </us-gaap:LongTermDebt>
<us-gaap:LongTermDebt id="ID_837" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_CcwhSeniorBSubordinatedNotesDue2020Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_SubisidarySeniorNotesMember" unitRef="USD" decimals="-3"> 1925000000 </us-gaap:LongTermDebt>
<us-gaap:DebtInstrumentFairValue id="ID_838" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-8"> 20500000000 </us-gaap:DebtInstrumentFairValue>
<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 id="ID_839" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_LineOfCreditFacilityAxis_cik0000739708_ReceivablesBasedFacility1Member_us-gaap_VariableRateAxis_us-gaap_FederalFundsEffectiveSwapRateMember" unitRef="pure" decimals="4"> 0.005 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
<us-gaap:PaymentsForAdvanceToAffiliate id="ID_840" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_cik0000739708_ArnMember" unitRef="USD" decimals="-3"> 0 </us-gaap:PaymentsForAdvanceToAffiliate>
<us-gaap:AvailableForSaleSecuritiesGrossUnrealizedLoss id="ID_841" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 0 </us-gaap:AvailableForSaleSecuritiesGrossUnrealizedLoss>
<us-gaap:Revenues id="ID_842" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_ConsolidationItemsAxis_us-gaap_OperatingSegmentsMember_us-gaap_StatementBusinessSegmentsAxis_us-gaap_IntersegmentEliminationMember" unitRef="USD" decimals="-3"> 0 </us-gaap:Revenues>
<us-gaap:Revenues id="ID_843" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_ConsolidationItemsAxis_us-gaap_OperatingSegmentsMember_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 0 </us-gaap:Revenues>
<us-gaap:AvailableForSaleSecuritiesAmortizedCost id="ID_844" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_EligibleItemOrGroupForFairValueOptionAxis_us-gaap_CostmethodInvestmentsMember" unitRef="USD" decimals="-3"> 7783000 </us-gaap:AvailableForSaleSecuritiesAmortizedCost>
<us-gaap:PrepaidRent id="ID_845" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 62864000 </us-gaap:PrepaidRent>
<us-gaap:OtherIndefiniteLivedIntangibleAssets id="ID_846" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 1067783000 </us-gaap:OtherIndefiniteLivedIntangibleAssets>
<us-gaap:IncomeTaxPolicyTextBlock id="ID_847" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Income Taxes</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company accounts for income taxes using the liability method. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting bases and tax bases of assets and liabilities and are measured using </font><font style='font-family:Times New Roman;font-size:10pt;' >the enacted tax rates expected to apply to taxable income in the periods in which the deferred tax asset or liability is expected to be realized or settled. Deferred tax assets are reduced by valuation allowances if the Company believes it is more likely </font><font style='font-family:Times New Roman;font-size:10pt;' >than not that some portion or the entire asset will not be realized. Generally all earnings from the Company’s foreign operations are permanently reinvested and not distributed. The Company has not provided U.S. federal income taxes for temporary differen</font><font style='font-family:Times New Roman;font-size:10pt;' >ces with respect to investments in foreign subsidiaries, which at December 31, 2014 currently result in tax basis amounts greater than the financial reporting basis. It is not apparent that these unrecognized deferred tax assets will reverse in the forese</font><font style='font-family:Times New Roman;font-size:10pt;' >eable future. If any excess cash held by our foreign subsidiaries were needed to fund operations in the United States, we could presently repatriate available funds without a requirement to accrue or pay U.S. taxes. This is a result of significant curren</font><font style='font-family:Times New Roman;font-size:10pt;' >t and historic deficits in our foreign earnings and profits, which gives us flexibility to make future cash distributions as non-taxable returns of capital. We regularly review our tax liabilities on amounts that may be distributed in future periods and p</font><font style='font-family:Times New Roman;font-size:10pt;' >rovide for foreign withholding and other current and deferred taxes on any such amounts. The determination of the amount of federal income taxes, if any, that might become due in the event that our foreign earnings are distributed is not practicable</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div>
</us-gaap:IncomeTaxPolicyTextBlock>
<us-gaap:RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments id="ID_848" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> -4580000 </us-gaap:RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments>
<us-gaap:PaymentsToAcquireOtherProductiveAssets id="ID_849" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 4541000 </us-gaap:PaymentsToAcquireOtherProductiveAssets>
<us-gaap:DepositsAssetsNoncurrent id="ID_850" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 26200000 </us-gaap:DepositsAssetsNoncurrent>
<us-gaap:NetIncomeLoss id="ID_851" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> -424479000 </us-gaap:NetIncomeLoss>
<us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent id="ID_852" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 48401000 </us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
<us-gaap:OtherOperatingIncomeExpenseNet id="ID_853" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 40031000 </us-gaap:OtherOperatingIncomeExpenseNet>
<us-gaap:ProceedsFromLinesOfCredit id="ID_854" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 272252000 </us-gaap:ProceedsFromLinesOfCredit>
<us-gaap:ProceedsFromRepaymentsOfOtherLongTermDebt id="ID_855" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 0 </us-gaap:ProceedsFromRepaymentsOfOtherLongTermDebt>
<us-gaap:GoodwillWrittenOffRelatedToSaleOfBusinessUnit id="ID_856" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorMember" unitRef="USD" decimals="-3"> 0 </us-gaap:GoodwillWrittenOffRelatedToSaleOfBusinessUnit>
<us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures id="ID_857" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="USD" decimals="-3"> 6381000 </us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures>
<us-gaap:ScheduleOfChangeInAssetRetirementObligationTableTextBlock id="ID_858" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='5' rowspan='1' style='width:160.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:160.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;border-color:Black;min-width:370.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Beginning balance</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 59,380 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 56,849 </font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Adjustment due to changes in estimates </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,391)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 806 </font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Accretion of liability</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7,858 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,106 </font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Liabilities settled</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,802)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,323)</font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign Currency</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,834)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (58)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Ending balance</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 54,211 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 59,380 </font></td></tr></table></div>
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<cik0000739708:ConversionFromStaticToDigital id="ID_859" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="mySigns" decimals="INF"> 83 </cik0000739708:ConversionFromStaticToDigital>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod id="ID_860" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_AwardTypeAxis_cik0000739708_CcohRestrictedStockMember" unitRef="shares" decimals="-3"> 64000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod>
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment id="ID_861" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 324526000 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
<cik0000739708:StockOptionsGrantedUnderClearChannel2008ExecutiveIncentivePlan id="ID_862" contextRef="AS_OF_Nov19_2012_Entity_0000739708_us-gaap_DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis_cik0000739708_Executive2008ExecutiveIncentivePlanMember" unitRef="shares" decimals="-5"> 2000000 </cik0000739708:StockOptionsGrantedUnderClearChannel2008ExecutiveIncentivePlan>
<us-gaap:DepreciationDepletionAndAmortization id="ID_863" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_CorporateAndOtherMember" unitRef="USD" decimals="-3"> 34416000 </us-gaap:DepreciationDepletionAndAmortization>
<us-gaap:AvailableForSaleSecuritiesTextBlock id="ID_864" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:249pt;text-align:left;border-color:Black;min-width:249pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;text-align:center;border-color:Black;min-width:65.25pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Gross</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Gross</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;text-align:center;border-color:Black;min-width:65.25pt;' ></td></tr><tr style='height:15pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:241.5pt;text-align:left;border-color:Black;min-width:241.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amortized </font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Fair</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:249pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:249pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Investments</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cost</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Losses</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Gains</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Value</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:249pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:249pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:241.5pt;text-align:left;border-color:Black;min-width:241.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Available-for-sale</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 369 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,609 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,978 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:241.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:241.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other cost investments</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,269 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,269 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:249pt;text-align:left;border-color:Black;min-width:249pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,638 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,609 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,247 </font></td></tr><tr style='height:21.75pt;' ><td colspan='2' rowspan='1' style='width:249pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:249pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:241.5pt;text-align:left;border-color:Black;min-width:241.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Available-for-sale</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 659 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,283 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,942 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:241.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:241.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other cost investments</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,783 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,783 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:249pt;text-align:left;border-color:Black;min-width:249pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,442 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,283 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,725 </font></td></tr></table></div>
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<us-gaap:DeferredTaxAssetsValuationAllowance id="ID_866" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 655658000 </us-gaap:DeferredTaxAssetsValuationAllowance>
<us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest id="ID_867" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -652148000 </us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest>
<us-gaap:DeferredTaxAssetsLiabilitiesNet id="ID_868" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -1526095000 </us-gaap:DeferredTaxAssetsLiabilitiesNet>
<us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment id="ID_869" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 2402168000 </us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment>
<us-gaap:OtherOperatingIncomeExpenseNet id="ID_870" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherOperatingIncomeExpenseNet>
<us-gaap:OtherOperatingIncomeExpenseNet id="ID_871" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_IntersegmentEliminationMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherOperatingIncomeExpenseNet>
<us-gaap:OtherAssetsNoncurrent id="ID_872" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 533456000 </us-gaap:OtherAssetsNoncurrent>
<us-gaap:Revenues id="ID_873" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 3084780000 </us-gaap:Revenues>
<us-gaap:DirectOperatingCosts id="ID_874" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_IntersegmentEliminationMember" unitRef="USD" decimals="-3"> -7621000 </us-gaap:DirectOperatingCosts>
<us-gaap:ProceedsFromPaymentsForOtherFinancingActivities id="ID_875" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 1243000 </us-gaap:ProceedsFromPaymentsForOtherFinancingActivities>
<us-gaap:NetCashProvidedByUsedInOperatingActivities id="ID_876" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 245116000 </us-gaap:NetCashProvidedByUsedInOperatingActivities>
<us-gaap:Goodwill id="ID_877" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 4187424000 </us-gaap:Goodwill>
<us-gaap:AssetImpairmentCharges id="ID_878" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 0 </us-gaap:AssetImpairmentCharges>
<us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit id="ID_879" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> -15627000 </us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
<us-gaap:ProceedsFromPaymentsForOtherFinancingActivities id="ID_880" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 4461000 </us-gaap:ProceedsFromPaymentsForOtherFinancingActivities>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 id="ID_881" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember_us-gaap_RangeAxis_us-gaap_MaximumMember"> P6Y4M </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
<us-gaap:PrepaidPensionCosts id="ID_882" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 11844000 </us-gaap:PrepaidPensionCosts>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue id="ID_883" contextRef="AS_OF_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentCompanyMember" unitRef="USD" decimals="-3"> 0 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue>
<us-gaap:OperatingIncomeLoss id="ID_884" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_CorporateAndOtherMember" unitRef="USD" decimals="-3"> -336363000 </us-gaap:OperatingIncomeLoss>
<us-gaap:PropertyPlantAndEquipmentNet id="ID_885" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 2699064000 </us-gaap:PropertyPlantAndEquipmentNet>
<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest id="ID_886" contextRef="FROM_Oct01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -83819000 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest>
<us-gaap:IncomeLossFromEquityMethodInvestments id="ID_887" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_cik0000739708_AllOthersMember" unitRef="USD" decimals="-3"> 3262000 </us-gaap:IncomeLossFromEquityMethodInvestments>
<us-gaap:ShareBasedCompensation id="ID_888" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 0 </us-gaap:ShareBasedCompensation>
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<div><table style='border-collapse:collapse;' ><tr style='height:48.75pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >iHM</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Americas Outdoor Advertising</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >International Outdoor Advertising</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate and other reconciling items</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Eliminations</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Consolidated</font></td></tr><tr style='height:12pt;' ><td colspan='21' rowspan='1' style='width:540pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-weight:bold;color:#000000;' >Year Ended December 31, 2014</font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Revenue</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,161,503 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,253,190 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,708,069 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 260,920 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (65,149)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 6,318,533 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Direct operating expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 921,089 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 555,614 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,041,274 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 24,009 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (7,621)</font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,534,365 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Selling, general and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > administrative expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,052,578 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 211,969 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 336,550 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 143,629 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (57,518)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,687,208 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Depreciation and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > amortization</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 240,868 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 194,640 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 207,431 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 33,543 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 34,416 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 710,898 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Impairment charges</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 24,176 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 24,176 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 320,341 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (10)</font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 320,331 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other operating income, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 40,031 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 40,031 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating income (loss)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 946,968 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 290,967 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 122,814 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 59,739 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (338,902)</font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,081,586 </font></td></tr><tr style='height:13.5pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Intersegment revenues</font></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,436 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 61,703 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 65,149 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Segment assets</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 7,720,181 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,527,935 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,817,237 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 277,388 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 697,501 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 14,040,242 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Capital expenditures</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 50,403 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 97,053 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 130,154 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 5,744 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 34,810 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 318,164 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Share-based compensation</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > expense</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10,713 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10,713 </font></td></tr><tr style='height:12pt;' ><td colspan='21' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-weight:bold;color:#000000;' >Year Ended December 31, 2013</font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Revenue</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,131,595 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,290,452 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,655,738 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 227,864 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (62,605)</font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 6,243,044 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Direct operating expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 942,644 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 566,669 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,028,059 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 25,271 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (8,556)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,554,087 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Selling, general and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > administrative expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,020,097 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 220,732 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 322,840 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 140,241 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (54,049)</font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,649,861 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Depreciation and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > amortization</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 262,136 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 196,597 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 203,927 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 39,291 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 28,877 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 730,828 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Impairment charges</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,970 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,970 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 313,514 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 313,514 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other operating income, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 22,998 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 22,998 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating income (loss)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 906,718 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 306,454 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 100,912 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 23,061 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (336,363)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,000,782 </font></td></tr><tr style='height:13.5pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Intersegment revenues</font></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,473 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 60,132 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 62,605 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Segment assets</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 7,933,564 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,693,308 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,029,687 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 534,363 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 906,380 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 15,097,302 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Capital expenditures</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 75,742 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 88,991 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 108,548 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 9,933 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 41,312 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 324,526 </font></td></tr><tr style='height:24.75pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Share-based compensation</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > expense</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,715 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,715 </font></td></tr><tr style='height:12pt;' ><td colspan='21' rowspan='1' style='width:540pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-weight:bold;color:#000000;' >Year Ended December 31, 2012</font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Revenue</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,084,780 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,279,257 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,667,687 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 281,879 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (66,719)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 6,246,884 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Direct operating expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 882,785 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 582,340 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,021,152 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 25,088 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (12,965)</font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,498,400 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Selling, general and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > administrative expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 993,116 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 211,245 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 363,417 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 152,394 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (53,754)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,666,418 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Depreciation and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > amortization</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 262,409 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 192,023 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 205,258 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 45,568 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 24,027 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 729,285 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Impairment charges</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 37,651 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 37,651 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 293,207 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 293,207 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other operating income, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 48,127 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 48,127 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating income (loss)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 946,470 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 293,649 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 77,860 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 58,829 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (306,758)</font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,070,050 </font></td></tr><tr style='height:13.5pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Intersegment revenues</font></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,175 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 80 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 65,464 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 66,719 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Segment assets</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 8,061,701 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,835,235 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,256,309 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 815,435 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,324,033 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,292,713 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Capital expenditures</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 65,821 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 117,647 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 150,129 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 17,438 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 39,245 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 390,280 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Share-based compensation</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > expense</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 28,540 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 28,540 </font></td></tr></table></div>
</us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock>
<us-gaap:FiniteLivedIntangibleAssetsGross id="ID_890" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_cik0000739708_RepresentationContractsMember" unitRef="USD" decimals="-3"> 238313000 </us-gaap:FiniteLivedIntangibleAssetsGross>
<us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest id="ID_891" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> -305842000 </us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest>
<us-gaap:OtherOperatingIncomeExpenseNet id="ID_892" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherOperatingIncomeExpenseNet>
<us-gaap:InterestPaidNet id="ID_893" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 1381396000 </us-gaap:InterestPaidNet>
<us-gaap:OperatingLeasesRentExpenseNet id="ID_894" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-7"> 1160000000 </us-gaap:OperatingLeasesRentExpenseNet>
<us-gaap:OtherComprehensiveIncomeLossTax id="ID_895" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 3328000 </us-gaap:OtherComprehensiveIncomeLossTax>
<us-gaap:AssetImpairmentCharges id="ID_896" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 0 </us-gaap:AssetImpairmentCharges>
<us-gaap:PrepaidExpenseCurrent id="ID_897" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 203485000 </us-gaap:PrepaidExpenseCurrent>
<us-gaap:NetIncomeLoss id="ID_898" contextRef="FROM_Jul01_2013_TO_Sep30_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -101855000 </us-gaap:NetIncomeLoss>
<us-gaap:PropertyPlantAndEquipmentGross id="ID_899" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_FurnitureAndFixturesMember" unitRef="USD" decimals="-3"> 473995000 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:DepositsAssetsCurrent id="ID_900" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 4466000 </us-gaap:DepositsAssetsCurrent>
<us-gaap:SellingGeneralAndAdministrativeExpense id="ID_901" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_IntersegmentEliminationMember" unitRef="USD" decimals="-3"> -57518000 </us-gaap:SellingGeneralAndAdministrativeExpense>
<us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock id="ID_902" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='8' rowspan='1' style='width:233.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:233.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;border-color:Black;min-width:295.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Current - Federal</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (503)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,586 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 61,655 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Current - foreign</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (27,256)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (48,466)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (48,579)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Current - state</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,193 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,527 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,408)</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;border-color:Black;min-width:295.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total current benefit (expense)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (24,566)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (36,353)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,668 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:295.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred - Federal</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (29,284)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 126,905 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 261,014 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred - foreign</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,308 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,932 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 27,970 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred - state</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,947)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 22,333 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15,627 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:295.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total deferred benefit (expense)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (33,923)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 158,170 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 304,611 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Income tax benefit (expense)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (58,489)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 121,817 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 308,279 </font></td></tr></table></div>
</us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue id="ID_903" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentCompanyMember" unitRef="USD_Per_Share" decimals="INF"> 2.16 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue>
<us-gaap:NetIncomeLoss id="ID_904" contextRef="FROM_Oct01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -309227000 </us-gaap:NetIncomeLoss>
<us-gaap:CommitmentsAndContingenciesDisclosureTextBlock id="ID_905" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;font-weight:bold;margin-left:0pt;' >NOTE 7 – COMMITMENTS AND CONTINGENCIES</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company accounts for its rentals that include renewal options, annual rent escalation clauses, minimum franchise payments and maintenance related to displays under the guidance in ASC</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >840.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company considers </font><font style='font-family:Times New Roman;font-size:10pt;' >its non-cancelable contracts that enable it to display advertising on buses, bus shelters, trains, etc. to be leases in accordance with the guidance in ASC</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >840-10.  These contracts may contain minimum annual franchise payments which generally escalate each</font><font style='font-family:Times New Roman;font-size:10pt;' > year.  The Company accounts for these minimum franchise payments on a straight-line basis.  If the rental increases are not scheduled in the lease, such as an increase based on subsequent changes in the index or rate, those rents are considered contingent</font><font style='font-family:Times New Roman;font-size:10pt;' > rentals and are recorded as expense when accruable.  Other contracts may contain a variable rent component based on revenue.  The Company accounts for these variable components as contingent rentals and records these payments as expense when accruable.</font><font style='font-family:Times New Roman;font-size:10pt;' > N</font><font style='font-family:Times New Roman;font-size:10pt;' >o single contract or lease is material to the Company’s operations.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company accounts for annual rent escalation clauses included in the lease term on a straight-line basis under the guidance in ASC</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >840-20-25.  The Company considers renewal periods in </font><font style='font-family:Times New Roman;font-size:10pt;' >determining its lease terms if at inception of the lease there is reasonable assurance the lease will be renewed.  Expenditures for maintenance are charged to operations as incurred, whereas expenditures for renewal and betterments are capitalized.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Co</font><font style='font-family:Times New Roman;font-size:10pt;' >mpany leases office space, certain broadcasting facilities, equipment and the majority of the land occupied by its outdoor advertising structures under long-term operating leases. The Company accounts for these leases in accordance with the policies descr</font><font style='font-family:Times New Roman;font-size:10pt;' >ibed above.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company’s contracts with municipal bodies or private companies relating to street furniture, billboards, transit and malls generally require the Company to build bus stops, kiosks and other public amenities or advertising structures during</font><font style='font-family:Times New Roman;font-size:10pt;' > the term of the contract.  The Company owns these structures and is generally allowed to advertise on them for the remaining term of the contract.  Once the Company has built the structure, the cost is capitalized and expensed over the shorter of the econ</font><font style='font-family:Times New Roman;font-size:10pt;' >omic life of the asset or the r</font><font style='font-family:Times New Roman;font-size:10pt;' >emaining life of the contract.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >In addition, the Company has commitments relating to required purchases of property, plant and equipment under certain street furniture contracts. Certain of the Company’s contracts contain pe</font><font style='font-family:Times New Roman;font-size:10pt;' >nalties for not fulfilling its commitments related to its obligations to build bus stops, kiosks and other public amenities or advertising structures.  Historically, any such penalties have not materially impacted the Company’s financial position or result</font><font style='font-family:Times New Roman;font-size:10pt;' >s of operations.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Certain acquisition agreements include deferred consideration payments based on performance requirements by the seller typically involving the completion of a development or obtaining appropriate permits that enable the Company to constru</font><font style='font-family:Times New Roman;font-size:10pt;' >ct additional advertising displays. At December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, the Company </font><font style='font-family:Times New Roman;font-size:10pt;' >believes its maximum aggregate contingency, which is subject to performance requirements by the seller, is approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >30</font><font style='font-family:Times New Roman;font-size:10pt;' >.0</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million.</font><font style='font-family:Times New Roman;font-size:10pt;' > As the contingencies have not been met or resolv</font><font style='font-family:Times New Roman;font-size:10pt;' >ed as of December</font><font style='font-family:Times New Roman;font-size:10pt;' > 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, these amounts are not recorded.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >As of December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, the Company's future minimum rental commitments under non-cancelable operating lease agreements with terms in excess of one year, minimum payments under non-cancelable co</font><font style='font-family:Times New Roman;font-size:10pt;' >ntracts in excess of one year, capital expenditure commitments</font><font style='font-family:Times New Roman;font-size:10pt;' > and employment/talent contracts</font><font style='font-family:Times New Roman;font-size:10pt;' > consist of the following:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Capital</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-Cancelable</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-Cancelable</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expenditure</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Employment/Talent</font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Operating Leases</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Contracts</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Commitments</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Contracts</font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 435,118 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 593,123 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 55,968 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 80,442 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2016</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 347,487 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 437,022 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 70,385 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 75,760 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2017</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 302,876 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 262,368 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 67,053 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 31,673 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2018</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 269,697 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 240,128 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 922 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,069 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2019</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 243,096 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 171,562 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 757 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Thereafter</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,325,171 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 336,120 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 14,402 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,923,445 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,040,323 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 209,487 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 198,944 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Rent expense charged to operations for the years ended December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' > was </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >1.17</font><font style='font-family:Times New Roman;font-size:10pt;' > billion, </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >1.1</font><font style='font-family:Times New Roman;font-size:10pt;' >6</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >billion</font><font style='font-family:Times New Roman;font-size:10pt;' > and</font><font style='font-family:Times New Roman;font-size:10pt;' > $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.1</font><font style='font-family:Times New Roman;font-size:10pt;' >4</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >billion, respectively.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >In various areas in which the Company operates, outdoor advertising is the object of restrictive and, in</font><font style='font-family:Times New Roman;font-size:10pt;' > some cases, prohibitive zoning and other regulatory provisions, either enacted or proposed. The impact to the Company of loss of displays due to governmental action has been somewhat mitigated by Federal and state laws mandating compensation for such los</font><font style='font-family:Times New Roman;font-size:10pt;' >s and constitutional restraints.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company and its subsidiaries are involved in certain legal proceedings arising in the ordinary course of business and, as required, have accrued an estimate of the probable costs for the resolution of those claims for </font><font style='font-family:Times New Roman;font-size:10pt;' >which the occurrence of loss is probable and the amount can be reasonably estimated.  These estimates have been developed in consultation with counsel and are based upon an analysis of potential results, assuming a combination of litigation and settlement </font><font style='font-family:Times New Roman;font-size:10pt;' >strategies.  It is possible, however, that future results of operations for any particular period could be materially affected by changes in the Company’s assumptions or the effectiveness of its strategies related to these proceedings.  Additionally, due t</font><font style='font-family:Times New Roman;font-size:10pt;' >o the inherent uncertainty of litigation, there can be no assurance that the resolution of any particular claim or proceeding would not have a material adverse effect on the Company’s financial condition or results of operations.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Although the Company is i</font><font style='font-family:Times New Roman;font-size:10pt;' >nvolved in a variety of legal proceedings in the ordinary course of business, a large portion of its litigation arises in the following contexts: commercial disputes; defamation matters; employment and benefits related claims; governmental fines; intellect</font><font style='font-family:Times New Roman;font-size:10pt;' >ual property claims; and tax disputes.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Los Angeles Litigation</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >In 2008, Summit Media, LLC, one of the Company’s competitors, sued the City of Los Angeles (the “City”), Clear Channel Outdoor, Inc. and CBS Outdoor in Los Angeles Superior Court (Case No. BS11</font><font style='font-family:Times New Roman;font-size:10pt;' >6611) challenging the validity of a settlement agreement that had been entered into in November 2006 among the parties and pursuant to which Clear Channel Outdoor, Inc. had taken down existing billboards and converted 83 existing signs from static displays</font><font style='font-family:Times New Roman;font-size:10pt;' > to digital displays. In 2009 the Los Angeles Superior Court ruled that the settlement agreement constituted an ultra vires act of the City, and nullified its existence. After further proceedings, on April 12, 2013 the Los Angeles Superior Court invalida</font><font style='font-family:Times New Roman;font-size:10pt;' >ted 82 digital modernization permits issued to Clear Channel Outdoor, Inc. (77 of which displays were operating at the time of the ruling), and Clear Channel Outdoor, Inc. was required to turn off the electrical power to all affected digital displays on Ap</font><font style='font-family:Times New Roman;font-size:10pt;' >ril 15, 2013. The digital display structures remain intact but digital displays are currently prohibited in the City. Clear Channel Outdoor, Inc. is seeking permits under the existing City sign code to either wrap the LED faces with vinyl or convert the </font><font style='font-family:Times New Roman;font-size:10pt;' >LED faces to traditional static signs, and has obtained a number of such permits. Clear Channel Outdoor, Inc. is also pursuing a new ordinance to permit digital signage in the City. </font></p></div>
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<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Foreign Currency</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Results of operations for foreign subsidiaries and foreign equity investees are translated into U.S. dollars using the average exchange rates during the year. The assets and liabilities of those subsidiaries and investees are translated </font><font style='font-family:Times New Roman;font-size:10pt;' >into U.S. dollars using the exchange rates at the balance sheet date. The related translation adjustments are recorded in a se</font><font style='font-family:Times New Roman;font-size:10pt;' >parate component of </font><font style='font-family:Times New Roman;font-size:10pt;' >shareholder’s</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >deficit</font><font style='font-family:Times New Roman;font-size:10pt;' >, “Accumulated other comprehensive loss”. Foreign c</font><font style='font-family:Times New Roman;font-size:10pt;' >urrency transaction gains and losses are included in operations.</font></p></div>
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<us-gaap:IncomeTaxExpenseBenefit id="ID_979" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -121817000 </us-gaap:IncomeTaxExpenseBenefit>
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<us-gaap:SegmentReportingDisclosureTextBlock id="ID_982" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;margin-left:0pt;color:#000000;' >NOTE </font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' >13</font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' > – SEGMENT DATA</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company’s reportable segments, which it believes best reflect how the Company is currently managed, are </font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' >, Americas</font><font style='font-family:Times New Roman;font-size:10pt;' > outdoor advertising and International outdoor advertising. Revenue and expenses earned and charged between segments are recorded at </font><font style='font-family:Times New Roman;font-size:10pt;' >estimated </font><font style='font-family:Times New Roman;font-size:10pt;' >fair value and eliminated in consolidation. The </font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' > segment provides media and entertainment services via broad</font><font style='font-family:Times New Roman;font-size:10pt;' >cast and digital delivery and also includes the Company’s national syndication business. The Americas outdoor advertising segment consists of operations primarily in the United States and Canada. The International outdoor</font><font style='font-family:Times New Roman;font-size:10pt;' > advertising</font><font style='font-family:Times New Roman;font-size:10pt;' > segment primarily in</font><font style='font-family:Times New Roman;font-size:10pt;' >cl</font><font style='font-family:Times New Roman;font-size:10pt;' >udes operations in Europe, Asia, Australia </font><font style='font-family:Times New Roman;font-size:10pt;' >and Latin America. The Americas outdoor and International outdoor display inventory consists primarily of billboards, street furniture displays and transit displays. The Other category includes the Com</font><font style='font-family:Times New Roman;font-size:10pt;' >pany’s m</font><font style='font-family:Times New Roman;font-size:10pt;' >edia representation business</font><font style='font-family:Times New Roman;font-size:10pt;' > as well as other general support services and initiatives which are ancillary to the Company’s other businesses. Corporate includes infrastructure and support, including information technology, human resources, legal, finance </font><font style='font-family:Times New Roman;font-size:10pt;' >and administrative functions of each of the Company’s </font><font style='font-family:Times New Roman;font-size:10pt;' >reportable </font><font style='font-family:Times New Roman;font-size:10pt;' >segments, as well as overall executive, administrative and support functions. Share-based payments are recorded </font><font style='font-family:Times New Roman;font-size:10pt;' >in corporate expenses.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The following table presents the Company’s reportable</font><font style='font-family:Times New Roman;font-size:10pt;' > segment results for the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:48.75pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >iHM</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Americas Outdoor Advertising</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >International Outdoor Advertising</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate and other reconciling items</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Eliminations</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Consolidated</font></td></tr><tr style='height:12pt;' ><td colspan='21' rowspan='1' style='width:540pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-weight:bold;color:#000000;' >Year Ended December 31, 2014</font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Revenue</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,161,503 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,253,190 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,708,069 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 260,920 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (65,149)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 6,318,533 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Direct operating expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 921,089 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 555,614 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,041,274 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 24,009 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (7,621)</font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,534,365 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Selling, general and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > administrative expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,052,578 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 211,969 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 336,550 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 143,629 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (57,518)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,687,208 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Depreciation and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > amortization</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 240,868 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 194,640 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 207,431 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 33,543 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 34,416 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 710,898 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Impairment charges</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 24,176 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 24,176 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 320,341 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (10)</font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 320,331 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other operating income, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 40,031 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 40,031 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating income (loss)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 946,968 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 290,967 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 122,814 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 59,739 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (338,902)</font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,081,586 </font></td></tr><tr style='height:13.5pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Intersegment revenues</font></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,436 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 61,703 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 65,149 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Segment assets</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 7,720,181 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,527,935 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,817,237 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 277,388 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 697,501 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 14,040,242 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Capital expenditures</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 50,403 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 97,053 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 130,154 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 5,744 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 34,810 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 318,164 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Share-based compensation</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > expense</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10,713 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10,713 </font></td></tr><tr style='height:12pt;' ><td colspan='21' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-weight:bold;color:#000000;' >Year Ended December 31, 2013</font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Revenue</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,131,595 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,290,452 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,655,738 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 227,864 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (62,605)</font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 6,243,044 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Direct operating expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 942,644 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 566,669 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,028,059 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 25,271 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (8,556)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,554,087 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Selling, general and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > administrative expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,020,097 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 220,732 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 322,840 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 140,241 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (54,049)</font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,649,861 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Depreciation and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > amortization</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 262,136 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 196,597 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 203,927 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 39,291 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 28,877 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 730,828 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Impairment charges</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,970 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,970 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 313,514 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 313,514 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other operating income, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 22,998 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 22,998 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating income (loss)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 906,718 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 306,454 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 100,912 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 23,061 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (336,363)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,000,782 </font></td></tr><tr style='height:13.5pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Intersegment revenues</font></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,473 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 60,132 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 62,605 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Segment assets</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 7,933,564 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,693,308 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,029,687 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 534,363 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 906,380 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 15,097,302 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Capital expenditures</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 75,742 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 88,991 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 108,548 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 9,933 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 41,312 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 324,526 </font></td></tr><tr style='height:24.75pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Share-based compensation</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > expense</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,715 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,715 </font></td></tr><tr style='height:12pt;' ><td colspan='21' rowspan='1' style='width:540pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-weight:bold;color:#000000;' >Year Ended December 31, 2012</font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Revenue</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,084,780 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,279,257 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,667,687 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 281,879 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (66,719)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 6,246,884 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Direct operating expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 882,785 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 582,340 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,021,152 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 25,088 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (12,965)</font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,498,400 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Selling, general and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > administrative expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 993,116 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 211,245 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 363,417 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 152,394 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (53,754)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,666,418 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Depreciation and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > amortization</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 262,409 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 192,023 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 205,258 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 45,568 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 24,027 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 729,285 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Impairment charges</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 37,651 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 37,651 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 293,207 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 293,207 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other operating income, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 48,127 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 48,127 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating income (loss)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 946,470 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 293,649 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 77,860 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 58,829 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (306,758)</font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,070,050 </font></td></tr><tr style='height:13.5pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Intersegment revenues</font></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,175 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 80 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 65,464 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 66,719 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Segment assets</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 8,061,701 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,835,235 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,256,309 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 815,435 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,324,033 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,292,713 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Capital expenditures</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 65,821 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 117,647 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 150,129 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 17,438 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 39,245 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 390,280 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Share-based compensation</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > expense</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 28,540 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 28,540 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Revenue of $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.8</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >billion, $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.</font><font style='font-family:Times New Roman;font-size:10pt;' >7</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >billion and $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.</font><font style='font-family:Times New Roman;font-size:10pt;' >7</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >billion derived</font><font style='font-family:Times New Roman;font-size:10pt;' > from the Company’s foreign operations are included in the data above for the </font><font style='font-family:Times New Roman;font-size:10pt;' >years ended December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively. </font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Revenue of $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.5</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >billion, $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.</font><font style='font-family:Times New Roman;font-size:10pt;' >5</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >billion and $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.</font><font style='font-family:Times New Roman;font-size:10pt;' >5</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >billion</font><font style='font-family:Times New Roman;font-size:10pt;' > derived</font><font style='font-family:Times New Roman;font-size:10pt;' > from the Company’s U.S. operations are included in the data above for the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Identifiable long-lived </font><font style='font-family:Times New Roman;font-size:10pt;' >assets of $</font><font style='font-family:Times New Roman;font-size:10pt;' >682.7</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million, $</font><font style='font-family:Times New Roman;font-size:10pt;' >760.5</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >805.2</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million derived from the Company’s forei</font><font style='font-family:Times New Roman;font-size:10pt;' >gn operations are included in the data above for the years ended December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively. Identifiable long-lived assets of $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.0</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >billion, $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.</font><font style='font-family:Times New Roman;font-size:10pt;' >1</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >billion and $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.</font><font style='font-family:Times New Roman;font-size:10pt;' >2</font><font style='font-family:Times New Roman;font-size:10pt;' > b</font><font style='font-family:Times New Roman;font-size:10pt;' >illion derived</font><font style='font-family:Times New Roman;font-size:10pt;' > from the Company’s U.S. operations are included in the data a</font><font style='font-family:Times New Roman;font-size:10pt;' >bove for the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively</font></p></div>
</us-gaap:SegmentReportingDisclosureTextBlock>
<us-gaap:AssetImpairmentCharges id="ID_983" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_CorporateAndOtherMember" unitRef="USD" decimals="-3"> 24176000 </us-gaap:AssetImpairmentCharges>
<us-gaap:DepreciationDepletionAndAmortization id="ID_984" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 192023000 </us-gaap:DepreciationDepletionAndAmortization>
<us-gaap:IncomeTaxExpenseBenefit id="ID_985" contextRef="FROM_Apr01_2013_TO_Jun30_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 11477000 </us-gaap:IncomeTaxExpenseBenefit>
<us-gaap:Goodwill id="ID_986" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorMember" unitRef="USD" decimals="-3"> 571932000 </us-gaap:Goodwill>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 id="ID_987" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember_us-gaap_RangeAxis_us-gaap_MinimumMember"> P6Y4M </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
<us-gaap:Assets id="ID_988" contextRef="AS_OF_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 16292713000 </us-gaap:Assets>
<us-gaap:ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock id="ID_989" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='5' rowspan='1' style='width:156.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31, 2014</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:156.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31, 2013</font></td></tr><tr style='height:26.25pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:204pt;text-align:left;border-color:Black;min-width:204pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Gross Carrying Amount</font></td><td style='width:3.75pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Accumulated Amortization</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Gross Carrying Amount</font></td><td style='width:3.75pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Accumulated Amortization</font></td></tr><tr style='height:25.5pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Transit, street furniture and other outdoor</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > contractual rights</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 716,723 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (476,523)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 777,521 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (464,548)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Customer / advertiser relationships</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,222,518 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (765,596)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,212,745 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (645,988)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Talent contracts</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 319,384 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (223,936)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 319,617 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (195,403)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Representation contracts</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 238,313 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (206,338)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 252,961 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (200,058)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Permanent easements</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 171,271 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 173,753 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 388,160 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (177,249)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 387,405 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (151,459)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:204pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:204pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,056,369 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,849,642)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,124,002 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,657,456)</font></td></tr></table></div>
</us-gaap:ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber id="ID_990" contextRef="AS_OF_Dec31_2013_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember" unitRef="shares" decimals="-3"> 2645000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
<us-gaap:ScheduleOfOtherNonoperatingIncomeExpenseTableTextBlock id="ID_991" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='8' rowspan='1' style='width:199.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:199.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:center;border-color:Black;min-width:329.25pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign exchange gain (loss)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15,554 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,772 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,018)</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Debt modification expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (23,555)</font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (6,450)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (197)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,268 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total other income (expense), net</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,104 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (21,980)</font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 250 </font></td></tr></table></div>
</us-gaap:ScheduleOfOtherNonoperatingIncomeExpenseTableTextBlock>
<us-gaap:DeferredTaxLiabilitiesOther id="ID_992" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 6655000 </us-gaap:DeferredTaxLiabilitiesOther>
<us-gaap:PaymentsForProceedsFromOtherInvestingActivities id="ID_993" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 4379000 </us-gaap:PaymentsForProceedsFromOtherInvestingActivities>
<us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="ID_994" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 2117413000 </us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
<us-gaap:InterestPaidNet id="ID_995" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 1540860000 </us-gaap:InterestPaidNet>
<us-gaap:LiabilitiesCurrent id="ID_996" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 1364285000 </us-gaap:LiabilitiesCurrent>
<us-gaap:InterestExpense id="ID_997" contextRef="FROM_Jan01_2014_TO_Mar31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 431114000 </us-gaap:InterestExpense>
<us-gaap:OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax id="ID_998" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_dei_LegalEntityAxis_us-gaap_NoncontrollingInterestMember" unitRef="USD" decimals="-3"> 167000 </us-gaap:OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax>
<us-gaap:NetIncomeLoss id="ID_999" contextRef="FROM_Jan01_2014_TO_Mar31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -424190000 </us-gaap:NetIncomeLoss>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber id="ID_1000" contextRef="AS_OF_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember" unitRef="shares" decimals="-3"> 6025000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
<us-gaap:Goodwill id="ID_1001" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioMember" unitRef="USD" decimals="-3"> 3234807000 </us-gaap:Goodwill>
<us-gaap:CurrentFederalTaxExpenseBenefit id="ID_1002" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -10586000 </us-gaap:CurrentFederalTaxExpenseBenefit>
<us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential id="ID_1003" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="pure" decimals="2"> -0.03 </us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential>
<us-gaap:EmployeeRelatedLiabilitiesCurrentAndNoncurrent id="ID_1004" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 31617000 </us-gaap:EmployeeRelatedLiabilitiesCurrentAndNoncurrent>
<us-gaap:FiniteLivedIntangibleAssetsGross id="ID_1005" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_CustomerRelationshipsMember" unitRef="USD" decimals="-3"> 1222518000 </us-gaap:FiniteLivedIntangibleAssetsGross>
<us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments id="ID_1006" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="pure" decimals="2"> 0.01 </us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments>
<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest id="ID_1007" contextRef="AS_OF_Dec31_2011_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="USD" decimals="-3"> 521794000 </us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
<us-gaap:Revenues id="ID_1008" contextRef="FROM_Oct01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 1694367000 </us-gaap:Revenues>
<us-gaap:DeferredTaxAssetsOther id="ID_1009" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 34017000 </us-gaap:DeferredTaxAssetsOther>
<us-gaap:OperatingIncomeLoss id="ID_1010" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 946470000 </us-gaap:OperatingIncomeLoss>
<us-gaap:GoodwillOtherChanges id="ID_1011" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorMember" unitRef="USD" decimals="-3"> 0 </us-gaap:GoodwillOtherChanges>
<us-gaap:StockholdersEquityNoteDisclosureTextBlock id="ID_1012" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;margin-left:0pt;color:#000000;' >NOTE 10 – </font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' >SHAREHOLDER’S</font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' > DEFICIT</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company reports its </font><font style='font-family:Times New Roman;font-size:10pt;' >noncontrolling</font><font style='font-family:Times New Roman;font-size:10pt;' > interests in consolidated subsidiaries as a component of equity separate from the Company’s equity. The following table shows the changes in </font><font style='font-family:Times New Roman;font-size:10pt;' >shareholder’s</font><font style='font-family:Times New Roman;font-size:10pt;' > deficit attributable to the Company and the </font><font style='font-family:Times New Roman;font-size:10pt;' >noncontrolling</font><font style='font-family:Times New Roman;font-size:10pt;' > interests of subsidiaries in which the Compan</font><font style='font-family:Times New Roman;font-size:10pt;' >y has a majority, but not total ownership interest:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:25.5pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The Company</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Noncontrolling </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interests</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Consolidated</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balances at January 1, 2014</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,942,166)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 245,531 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,696,635)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net income (loss)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (793,761)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 31,603 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (762,158)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Dividends and other payments to noncontrolling interests</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (40,027)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (40,027)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Purchase of additional noncontrolling interests</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (46,806)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,944)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (48,750)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency translation adjustments</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (101,980)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (19,898)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (121,878)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain on marketable securities</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 285 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 42 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 327 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other adjustments to comprehensive loss</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (10,214)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,224)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (11,438)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reclassifications</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,317 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,317 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,977 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,057 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,034 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balances at December 31, 2014</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(9,889,348)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >224,140 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(9,665,208)</font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:30pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The Company</font></td><td style='width:8.25pt;text-align:center;border-color:Black;min-width:8.25pt;' ></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Noncontrolling </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interests</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Consolidated</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balances at January 1, 2013</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(8,299,188)</font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 303,997 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(7,995,191)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net income (loss)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (606,883)</font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 23,366 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (583,517)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Dividends and other payments to noncontrolling interests</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (91,887)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (91,887)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency translation adjustments</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (29,755)</font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,246)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (33,001)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain on marketable securities</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,439 </font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 137 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,576 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain on cash flow derivatives</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 48,180 </font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 48,180 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other adjustments to comprehensive loss</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,932 </font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 800 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,732 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reclassifications</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (83,585)</font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (167)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (83,752)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,694 </font></td><td style='width:8.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,531 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 19,225 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balances at December 31, 2013</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,942,166)</font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 245,531 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,696,635)</font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Dividends</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company has not paid cash dividends on the shares of its common stock since the merger in 2008 and its ability to pay dividends is subject to restrictions should it seek to do so in the future. The Company’s debt financing arrangements include restrictions on its ability to pay dividends.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Share-Based Compensation</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Stock Options</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company does not have any compensation plans under which it grants stock awards to employees. Prior to the merger, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > granted options to purchase its common stock to its employees and directors and its affiliates under its various equity incentive plans typically at no less than the fair value of the underlying stock on the date of grant. These options were granted for a</font><font style='font-family:Times New Roman;font-size:10pt;' > term not exceeding ten years and were forfeited, except in certain circumstances, in the event the employee or director terminated his or her employment or relationship with </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > or one of its affiliates. Prior to acceleration, if</font><font style='font-family:Times New Roman;font-size:10pt;' > any, in connection with the merger, these options vested over a period of up to five years. All equity incentive plans contained anti-dilutive provisions that permitted an adjustment of the number of shares of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > common stock</font><font style='font-family:Times New Roman;font-size:10pt;' > represented by each option for any change in capitalization.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Parent has granted options to purchase its shares of Class A common stock to certain key executives under its equity incentive plan at no less than the fair value of the underlying stock on the</font><font style='font-family:Times New Roman;font-size:10pt;' > date of grant. These options are granted for a term not to exceed ten years and are forfeited, except in certain circumstances, in the event the executive terminates his or </font><font style='font-family:Times New Roman;font-size:10pt;' >her employment or relationship with </font><font style='font-family:Times New Roman;font-size:10pt;' >Parent</font><font style='font-family:Times New Roman;font-size:10pt;' > or one of its affiliates. Approximate</font><font style='font-family:Times New Roman;font-size:10pt;' >ly </font><font style='font-family:Times New Roman;font-size:10pt;' >three-fourths of the options </font><font style='font-family:Times New Roman;font-size:10pt;' >outstanding at December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > vest based solely on continued service over a period of up to five years with the remainder becoming eligible to vest over a period of up to five years if certain predetermined performance</font><font style='font-family:Times New Roman;font-size:10pt;' > targets are met. The equity incentive plan contains antidilutive provisions that permit an adjustment of the number of shares of Parent’s common stock represented by each option for any change in capitalization.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company accounts for its share-based </font><font style='font-family:Times New Roman;font-size:10pt;' >payments using the fair value recognition provisions of ASC 718-10. The fair value of the portion of options that vest based on continued service is estimated on the grant date using a Black-Scholes option-pricing model and the fair value of the remaining</font><font style='font-family:Times New Roman;font-size:10pt;' > options which contain vesting provisions subject to service, market and performance conditions is estimated on the grant date using a Monte Carlo model. Expected volatilities were based on historical volatility of peer companies’ stock, including Parent,</font><font style='font-family:Times New Roman;font-size:10pt;' > over the expected life of the options. The expected life of the options granted represents the period of time that the options granted are expected to be outstanding. The Company used historical data to estimate option exercises and employee termination</font><font style='font-family:Times New Roman;font-size:10pt;' >s within the valuation model. The Company includes estimated forfeitures in its compensation cost and updates the estimated forfeiture rate through the final vesting date of awards. The risk free interest rate is based on the U.S. Treasury yield curve in</font><font style='font-family:Times New Roman;font-size:10pt;' > effect at the time of grant for periods equal to the expected life of the option. No options were granted during the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >. The following assumptions were used to calculate the fair value of the options granted duri</font><font style='font-family:Times New Roman;font-size:10pt;' >ng the year ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2012</font><font style='font-family:Times New Roman;font-size:10pt;' >:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:276pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:15.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font></sup></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font></sup></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected volatility</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >N/A</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >N/A</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >71% – 77%</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected life in years</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >N/A</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >N/A</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.3 – 6.5</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Risk-free interest rate</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >N/A</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >N/A</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0.97% – 1.55%</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Dividend yield</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >N/A</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >N/A</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0%</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1) </font></sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >No options were granted in 2013 and 2014</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The following table presents a summary of Parent's stock options outstanding at and stock option activity during the year ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > (“Price” reflects the weighted average exercise price per share):</font></p><p style='text-align:left;line-height:12pt;' ></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:63.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Options</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Price</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Average </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Remaining </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Contractual Term</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, January 1, 2014</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,509 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 33.11 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1)</font></sup></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Exercised</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (125)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 36.00 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expired</font></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (83)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 36.00 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td></tr><tr style='height:15.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, December 31, 2014 </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(2)</font></sup></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,301 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32.85 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4.3 years</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Exercisable </font></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,480 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 31.95 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4.0 years</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected to Vest</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 797 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 35.20 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4.7 years</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;line-height:12pt;' ></p><ul><li style='list-style:decimal;text-align:left;margin-top:0pt;margin-bottom:0pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >The weighted average grant date fair value of options granted during the years ended December 31, 2012 </font><font style='font-family:Times New Roman;font-size:10pt;' >was $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.68</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >per share. No options were granted during the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >. </font></li><li style='list-style:decimal;text-align:left;margin-top:0pt;margin-bottom:0pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >Non-cash compensation expense has not been recorded with respect </font><font style='font-family:Times New Roman;font-size:10pt;' >to </font><font style='font-family:Times New Roman;font-size:10pt;' >0.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million shares</font><font style='font-family:Times New Roman;font-size:10pt;' > as the vesting of these options is subject to performance conditions that have not yet been determined probable to meet.</font></li></ul><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >A summary of </font><font style='font-family:Times New Roman;font-size:10pt;' >Parents’s</font><font style='font-family:Times New Roman;font-size:10pt;' > unvested options and cha</font><font style='font-family:Times New Roman;font-size:10pt;' >nges during the year ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > is presented below:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:39.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Options</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted Average Grant Date Fair Value</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unvested, January 1, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,086 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10.74 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:15.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Vested </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1) </font></sup></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (140)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2.32 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (125)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2.16 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unvested, December 31, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 821 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 13.61 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;line-height:12pt;' ></p><ul><li style='list-style:decimal;text-align:left;margin-top:0pt;margin-bottom:0pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >The </font><font style='font-family:Times New Roman;font-size:10pt;' >total fair value of the options vested during the years ended December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' > was $</font><font style='font-family:Times New Roman;font-size:10pt;' >0.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million, $</font><font style='font-family:Times New Roman;font-size:10pt;' >6.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >3.9</font><font style='font-family:Times New Roman;font-size:10pt;' > million, respectively.</font></li></ul><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Restricted Stock Awards</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Prior to the merger, the Company granted restricted stock awards to its employees and directors and its affiliates under its various equity incentive plans. These common shares held a legend which restricted their transferability for a term of up to five years and were forfeited, except in certain circumstances, in the event the employee or director terminated his or her employment or relationship with the Company prior to the lapse of the restriction. Recipients of the restricted stock awards were entitled to all cash dividends as of the date the award was granted.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Parent has granted restri</font><font style='font-family:Times New Roman;font-size:10pt;' >cted stock awards to its employees and affiliates under its equity incentive plan. </font><font style='font-family:Times New Roman;font-size:10pt;' >The restricted stock awards </font><font style='font-family:Times New Roman;font-size:10pt;' >are restricted in transferability for a term of up to five years. R</font><font style='font-family:Times New Roman;font-size:10pt;' >estricted stock awards </font><font style='font-family:Times New Roman;font-size:10pt;' >are forfeited, except in certain circumstances, in the</font><font style='font-family:Times New Roman;font-size:10pt;' > event the employee terminates his or her employment or relationship with Parent prior to the lapse of the restriction. Dividends or distributions paid in respect of unvested restricted stock awards will be held by Parent and paid to the recipients of the</font><font style='font-family:Times New Roman;font-size:10pt;' > restricted stock awards upon vesting of the shares.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The following table presents a summary of Parent's restricted stock outstanding and restricted stock activity as of and during the year ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > (“Price” reflects the weighted average </font><font style='font-family:Times New Roman;font-size:10pt;' >share price at the date of grant):</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Awards</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Price</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, January 1, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,919 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3.35 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,826 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7.86 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Vested (restriction lapsed)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (506)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3.14 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (710)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8.85 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, December 31, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,529 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5.02 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >CCOH Share-Based Awards</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >CCOH Stock Options</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company’s subsidiary, CCOH, has granted options to purchase shares of its Class</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >A common stock to employees and directors of CCOH and its affiliates under its equity incentive plan at no less than the fair market value of the underlying stock on the date of grant. These options are granted for a term not exceeding ten years and are forfeited, except in certain circumstances, in the event the employee or director terminates his or her employment or relationship with CCOH or one of its affiliates. These options vest solely on continued service over a period of </font><font style='font-family:Times New Roman;font-size:10pt;' >up to five years. The equity incentive stock plan contains anti-dilutive provisions that permit an adjustment of the number of shares of CCOH’s common stock represented by each option for any change in capitalization.</font><font style='font-family:Times New Roman;font-size:10pt;' > CCOH determined that the CCOH </font><font style='font-family:Times New Roman;font-size:10pt;' >d</font><font style='font-family:Times New Roman;font-size:10pt;' >ividend discussed in Note</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >5 was considered a change in capitalization and therefore adjusted outstanding options as of March</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >15, 2012. No incremental compensation cost was recognized in connection with the adjustment. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The fair value of each option awarded on CCOH common stock is estimated</font><font style='font-family:Times New Roman;font-size:10pt;' > on the date of grant using a Black-Scholes option-pricing model. Expected volatilities are based on historical volatility of CCOH’s stock over the expected life of the options. The expected life of options granted represents the period of time that options granted are expected to be outstanding. CCOH uses historical data to estimate option exercises and employee terminations within the valuation model. CCOH includes estimated forfeitures in its compensation cost and updates the estimated forfeiture rate through the final vesting date of awards. The risk free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods equal to the expected life of the option. The following assumptions were used to calculate the fair value of CCOH’s options on the date of grant:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:276pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected volatility</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >54% – 56%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >55% – 56%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >54% – 56%</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected life in years</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.3</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.3</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.3</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Risk-free interest rate</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.73% – 2.08%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.05% – 2.19%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0.92% – 1.48%</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Dividend yield</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0%</font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The following table presents a summary of CCOH’s stock options outstanding at and stock option activity during the year ended December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > (“Price” reflects the weighted average exercise price per share):</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:63.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Options</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Price</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Average </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Remaining </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Contractual </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Aggregate </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Intrinsic </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Value</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, January 1, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,909 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9.60 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font></sup></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 627 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8.64 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Exercised </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(2) </font></sup></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (459)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5.23 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (628)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8.11 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expired</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (424)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10.58 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, December 31, 2014</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,025 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9.92 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5.1 years</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $13,956 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Exercisable </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,471 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10.56 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4.1 years</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $10,065 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected to vest</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,487 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8.08 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.8 years</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $3,729 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;line-height:12pt;' ></p><ul><li style='list-style:decimal;text-align:left;margin-top:0pt;margin-bottom:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >The weighted average grant date fair value of CCOH options granted during the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >was $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.69</font><font style='font-family:Times New Roman;font-size:10pt;' >,</font><font style='font-family:Times New Roman;font-size:10pt;' > $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.10</font><font style='font-family:Times New Roman;font-size:10pt;' > and $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.43</font><font style='font-family:Times New Roman;font-size:10pt;' > per share, respectively.</font></li><li style='list-style:decimal;text-align:left;margin-top:0pt;margin-bottom:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >Cash received from option exercises during the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' > was </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >2.4</font><font style='font-family:Times New Roman;font-size:10pt;' > million</font><font style='font-family:Times New Roman;font-size:10pt;' >, $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.2</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >6.4</font><font style='font-family:Times New Roman;font-size:10pt;' > million, respectively. The total intrinsic value of the options exercised during the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >was $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.5</font><font style='font-family:Times New Roman;font-size:10pt;' > million</font><font style='font-family:Times New Roman;font-size:10pt;' >, $</font><font style='font-family:Times New Roman;font-size:10pt;' >5.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >7.9</font><font style='font-family:Times New Roman;font-size:10pt;' > million, respectively.</font></li></ul><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >A summary of C</font><font style='font-family:Times New Roman;font-size:10pt;' >COH’s unvested options at and changes during the year ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > is presented below:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Options</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted Average Grant Date Fair Value</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unvested, January 1, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,645 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5.21 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 627 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.69 </font></td></tr><tr style='height:15.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Vested </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1) </font></sup></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,091)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5.59 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (628)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.74 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unvested, December 31, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,553 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.92 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;line-height:12pt;' ></p><ul><li style='list-style:decimal;text-align:left;margin-top:0pt;margin-bottom:0pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >The total fair value of CCOH options vested during the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' > was</font><font style='font-family:Times New Roman;font-size:10pt;' > $</font><font style='font-family:Times New Roman;font-size:10pt;' >6.1</font><font style='font-family:Times New Roman;font-size:10pt;' > million</font><font style='font-family:Times New Roman;font-size:10pt;' >, $</font><font style='font-family:Times New Roman;font-size:10pt;' >7.1</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >11.5</font><font style='font-family:Times New Roman;font-size:10pt;' > million, respectively.</font></li></ul><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >CCOH Restricted Stock Awards</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >CCOH has also granted both restricted stock and restricted stock </font><font style='font-family:Times New Roman;font-size:10pt;' >unit awards to its employees and affiliates under its equity incentive plan. The restricted stock awards represent shares of Class A common stock that hold a legend which restricts their transferability for a term of up to five years. The restricted stoc</font><font style='font-family:Times New Roman;font-size:10pt;' >k units represent the right to receive shares upon vesting, which is generally over a period of up to five years. Both restricted stock awards and restricted stock units are forfeited, except in certain circumstances, in the event the employee terminates </font><font style='font-family:Times New Roman;font-size:10pt;' >his or her employment or relationship with CCOH prior to the lapse of the restriction.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The following table presents a summary of CCOH’s restricted stock and restricted stock units outstanding at and activity during the year ended December 31, 2014 (“Price</font><font style='font-family:Times New Roman;font-size:10pt;' >” reflects the weighted average share price at the date of grant):</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Awards</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Price</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, January 1, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,892 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6.83 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,040 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8.88 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Vested (restriction lapsed)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (64)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6.86 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (410)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7.76 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, December 31, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,458 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7.54 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Share-Based Compensation Cost</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The share-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense on a straight-line basis over the vesting period. Share-based compensation payments are </font><font style='font-family:Times New Roman;font-size:10pt;' >recorded in corporate expenses and were $10</font><font style='font-family:Times New Roman;font-size:10pt;' >.7</font><font style='font-family:Times New Roman;font-size:10pt;' > million, $16.7 million and $28.5 million, during the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The tax benefit </font><font style='font-family:Times New Roman;font-size:10pt;' >related to the share-based compensation expense for the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' > was $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.1</font><font style='font-family:Times New Roman;font-size:10pt;' > million</font><font style='font-family:Times New Roman;font-size:10pt;' >, $</font><font style='font-family:Times New Roman;font-size:10pt;' >6.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >10.8</font><font style='font-family:Times New Roman;font-size:10pt;' > million, respectively.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >As of December 31, 201</font><font style='font-family:Times New Roman;font-size:10pt;' >4</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >there was $</font><font style='font-family:Times New Roman;font-size:10pt;' >22.4</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million of</font><font style='font-family:Times New Roman;font-size:10pt;' > unrecognized compensation cost</font><font style='font-family:Times New Roman;font-size:10pt;' > related to unvested share-based compensation arrangements that will vest based on service conditions. This cost is expected to be recognized </font><font style='font-family:Times New Roman;font-size:10pt;' >over a weighted average period of approximately three years. In addition, as of D</font><font style='font-family:Times New Roman;font-size:10pt;' >ecember 31, 201</font><font style='font-family:Times New Roman;font-size:10pt;' >4</font><font style='font-family:Times New Roman;font-size:10pt;' >, there was $</font><font style='font-family:Times New Roman;font-size:10pt;' >24.7</font><font style='font-family:Times New Roman;font-size:10pt;' > million</font><font style='font-family:Times New Roman;font-size:10pt;' > of unrecognized compensation cost related to unvested share-based compensation arrangements that will vest based on market, performance and service conditions. This cost will be recognized when it becomes probable</font><font style='font-family:Times New Roman;font-size:10pt;' > that the performance condition will be satisfied.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Parent completed a voluntary stock option exchange program on November 19, 2012 and exchanged </font><font style='font-family:Times New Roman;font-size:10pt;' >2.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million stock options granted under the Clear Channel 2008 Executive Incentive Plan for </font><font style='font-family:Times New Roman;font-size:10pt;' >1.8</font><font style='font-family:Times New Roman;font-size:10pt;' > million replac</font><font style='font-family:Times New Roman;font-size:10pt;' >ement restricted share awards with different service and performance conditions. Parent accounted for the exchange program as a modification of the existing awards under ASC 718 and will recognize incremental compensation expense of approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.7</font><font style='font-family:Times New Roman;font-size:10pt;' > mill</font><font style='font-family:Times New Roman;font-size:10pt;' >ion over the service period of the new awards. In connection with the exchange program, Parent granted an additional </font><font style='font-family:Times New Roman;font-size:10pt;' >1.5</font><font style='font-family:Times New Roman;font-size:10pt;' > million restricted stock awards pursuant to a tax assistance program offered to employees participating in the exchange. Of the total </font><font style='font-family:Times New Roman;font-size:10pt;' >1.5</font><font style='font-family:Times New Roman;font-size:10pt;' > million restricted stock awards granted, </font><font style='font-family:Times New Roman;font-size:10pt;' >0.9</font><font style='font-family:Times New Roman;font-size:10pt;' > million were repurchased by Parent upon expiration of the exchange program while the remaining </font><font style='font-family:Times New Roman;font-size:10pt;' >0.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million awards were forfeited. Parent recognized $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million of expense related to the awards granted in co</font><font style='font-family:Times New Roman;font-size:10pt;' >nnection with the tax assistance program.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
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<us-gaap:IncomeTaxReconciliationOtherReconcilingItems id="ID_1013" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 4615000 </us-gaap:IncomeTaxReconciliationOtherReconcilingItems>
<us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued id="ID_1014" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-5"> 40800000 </us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued>
<us-gaap:OperatingIncomeLoss id="ID_1015" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 293649000 </us-gaap:OperatingIncomeLoss>
<us-gaap:ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill id="ID_1016" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_RegulatoryAssetAxis_cik0000739708_FccLicensesMember" unitRef="USD" decimals="-5"> 15700000 </us-gaap:ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill>
<us-gaap:SecuredDebt id="ID_1017" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_PriorityGuaranteeNotesMember" unitRef="USD" decimals="-3"> 4324815000 </us-gaap:SecuredDebt>
<us-gaap:DebtInstrumentInterestRateStatedPercentage id="ID_1018" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_SecondNotesDue2021Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_PriorityGuaranteeNotesMember" unitRef="pure" decimals="4"> 0.1125 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:LongTermDebt id="ID_1019" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_SeniorNotesDue2018Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_IheartcommunicationsLegacyNotesMember" unitRef="USD" decimals="-3"> 175000000 </us-gaap:LongTermDebt>
<us-gaap:LongTermDebt id="ID_1020" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_CcwhSeniorANotesDue2022Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_SubisidarySeniorNotesMember" unitRef="USD" decimals="-3"> 735750000 </us-gaap:LongTermDebt>
<us-gaap:LongTermDebt id="ID_1021" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_CcwhSeniorANotesDue2022Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_SubisidarySeniorNotesMember" unitRef="USD" decimals="-3"> 735750000 </us-gaap:LongTermDebt>
<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 id="ID_1022" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_TermLoanBAndCMember_us-gaap_LineOfCreditFacilityAxis_cik0000739708_SeniorSecuredCreditFacilityMember_us-gaap_VariableRateAxis_us-gaap_BaseRateMember" unitRef="pure" decimals="4"> 0.0265 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
<us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains id="ID_1023" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_EligibleItemOrGroupForFairValueOptionAxis_us-gaap_AvailableforsaleSecuritiesMember" unitRef="USD" decimals="-3"> 1609000 </us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains>
<us-gaap:AvailableForSaleSecuritiesGrossUnrealizedLoss id="ID_1024" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_EligibleItemOrGroupForFairValueOptionAxis_us-gaap_CostmethodInvestmentsMember" unitRef="USD" decimals="-3"> 0 </us-gaap:AvailableForSaleSecuritiesGrossUnrealizedLoss>
<us-gaap:StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans id="ID_1025" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_dei_LegalEntityAxis_cik0000739708_CcFincoLlcMember_us-gaap_StatementClassOfStockAxis_us-gaap_CommonClassAMember" unitRef="shares" decimals="0"> 111291 </us-gaap:StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans>
<us-gaap:AdvertisingCostsPolicyTextBlock id="ID_1026" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Advertising Expense</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company records advertising expense as it is incurred. Advertising expenses </font><font style='font-family:Times New Roman;font-size:10pt;' >were </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >103.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million,</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >133.7</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >113.4</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million for the years ended December</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively.</font></p></div>
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<us-gaap:PropertyPlantAndEquipmentUsefulLife id="ID_1027" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_EquipmentMember_us-gaap_RangeAxis_us-gaap_MinimumMember"> P7Y </us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue id="ID_1028" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember" unitRef="USD" decimals="-5"> 7900000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue>
<us-gaap:IncomeLossFromEquityMethodInvestments id="ID_1029" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 18557000 </us-gaap:IncomeLossFromEquityMethodInvestments>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue id="ID_1030" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_AwardTypeAxis_cik0000739708_CcohRestrictedStockMember" unitRef="USD_Per_Share" decimals="INF"> 6.86 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue>
<us-gaap:ProceedsFromSaleOfProductiveAssets id="ID_1031" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 59665000 </us-gaap:ProceedsFromSaleOfProductiveAssets>
<cik0000739708:NoncurrentPortionOfUnrecognizedTaxBenefits id="ID_1032" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 131015000 </cik0000739708:NoncurrentPortionOfUnrecognizedTaxBenefits>
<us-gaap:DirectOperatingCosts id="ID_1033" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 942644000 </us-gaap:DirectOperatingCosts>
<us-gaap:DirectOperatingCosts id="ID_1034" contextRef="FROM_Jul01_2013_TO_Sep30_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 648743000 </us-gaap:DirectOperatingCosts>
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<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;border-color:Black;min-width:126.75pt;' ></td><td colspan='14' rowspan='1' style='width:402pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:402pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='4' rowspan='1' style='width:129pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:129pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='4' rowspan='1' style='width:129pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:129pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='4' rowspan='1' style='width:129pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:129pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;border-color:Black;min-width:126.75pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amount</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Percent</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amount</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Percent</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amount</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Percent</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Income tax benefit at</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:126.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >statutory rates</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 246,284 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >35%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 246,867 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >35%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 251,814 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >35%</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >State income taxes, net of </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;border-color:Black;min-width:126.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >federal tax effect</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 26,518 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32,768 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,218 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1%</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign income taxes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,074 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (22,640)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(3%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,782 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2%</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Nondeductible items</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,533)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,870)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,617)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Changes in valuation allowance </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:126.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >and other estimates</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (333,641)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(47%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (135,161)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(19%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 50,697 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7%</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,191)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,853 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,615)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Income tax benefit (expense)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (58,489)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(8%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 121,817 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >17%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 308,279 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >43%</font></td></tr></table></div>
</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
<us-gaap:DeferredTaxLiabilities id="ID_1036" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 2599197000 </us-gaap:DeferredTaxLiabilities>
<us-gaap:AmortizationOfFinancingCostsAndDiscounts id="ID_1037" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 124342000 </us-gaap:AmortizationOfFinancingCostsAndDiscounts>
<us-gaap:ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock id="ID_1038" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:15pt;text-align:right;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:left;border-color:Black;min-width:45pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:15pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:45pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 236,019 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2016</font></td><td style='width:15pt;text-align:right;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:right;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 219,485 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2017</font></td><td style='width:15pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 197,061 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2018</font></td><td style='width:15pt;text-align:right;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:right;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 127,730 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2019</font></td><td style='width:15pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 42,274 </font></td></tr></table></div>
</us-gaap:ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock>
<us-gaap:GoodwillWrittenOffRelatedToSaleOfBusinessUnit id="ID_1039" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorMember" unitRef="USD" decimals="-3"> 0 </us-gaap:GoodwillWrittenOffRelatedToSaleOfBusinessUnit>
<us-gaap:SellingGeneralAndAdministrativeExpense id="ID_1040" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 1687208000 </us-gaap:SellingGeneralAndAdministrativeExpense>
<us-gaap:IncreaseDecreaseInDeferredCharges id="ID_1041" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 83617000 </us-gaap:IncreaseDecreaseInDeferredCharges>
<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest id="ID_1042" contextRef="FROM_Jan01_2013_TO_Mar31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -305444000 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest>
<us-gaap:OtherOperatingIncomeExpenseNet id="ID_1043" contextRef="FROM_Apr01_2014_TO_Jun30_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -1628000 </us-gaap:OtherOperatingIncomeExpenseNet>
<us-gaap:OtherGeneralAndAdministrativeExpense id="ID_1044" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherGeneralAndAdministrativeExpense>
<cik0000739708:DebtModificationExpenses id="ID_1045" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -23555000 </cik0000739708:DebtModificationExpenses>
<us-gaap:OtherNonoperatingIncomeExpense id="ID_1046" contextRef="FROM_Apr01_2014_TO_Jun30_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 12157000 </us-gaap:OtherNonoperatingIncomeExpense>
<us-gaap:NetIncomeLossAttributableToNoncontrollingInterest id="ID_1047" contextRef="FROM_Jul01_2014_TO_Sep30_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 7028000 </us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
<us-gaap:OtherAssetsCurrent id="ID_1048" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 136299000 </us-gaap:OtherAssetsCurrent>
<us-gaap:AvailableForSaleSecurities id="ID_1049" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_EligibleItemOrGroupForFairValueOptionAxis_us-gaap_AvailableforsaleSecuritiesMember" unitRef="USD" decimals="-3"> 1942000 </us-gaap:AvailableForSaleSecurities>
<us-gaap:IncomeTaxReconciliationNondeductibleExpense id="ID_1050" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 4617000 </us-gaap:IncomeTaxReconciliationNondeductibleExpense>
<us-gaap:EffectOfExchangeRateOnCashAndCashEquivalents id="ID_1051" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -484000 </us-gaap:EffectOfExchangeRateOnCashAndCashEquivalents>
<us-gaap:EquityMethodInvestmentOwnershipPercentage id="ID_1052" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_RangeAxis_us-gaap_MaximumMember" unitRef="pure" decimals="4"> 0.5 </us-gaap:EquityMethodInvestmentOwnershipPercentage>
<us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments id="ID_1053" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="pure" decimals="2"> -0.01 </us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments>
<us-gaap:OtherGeneralAndAdministrativeExpense id="ID_1054" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherGeneralAndAdministrativeExpense>
<us-gaap:OtherGeneralAndAdministrativeExpense id="ID_1055" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_AllOtherSegmentsMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherGeneralAndAdministrativeExpense>
<us-gaap:Assets id="ID_1056" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_CorporateAndOtherMember" unitRef="USD" decimals="-3"> 906380000 </us-gaap:Assets>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate id="ID_1057" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember_us-gaap_RangeAxis_us-gaap_MinimumMember" unitRef="pure" decimals="2"> 0 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
<us-gaap:AssetImpairmentCharges id="ID_1058" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 16970000 </us-gaap:AssetImpairmentCharges>
<us-gaap:RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments id="ID_1059" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 130879000 </us-gaap:RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments>
<us-gaap:StockIssuedDuringPeriodValueOther id="ID_1060" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3"> -1873000 </us-gaap:StockIssuedDuringPeriodValueOther>
<us-gaap:PaymentsToAcquireInterestInSubsidiariesAndAffiliates id="ID_1061" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 1354000 </us-gaap:PaymentsToAcquireInterestInSubsidiariesAndAffiliates>
<us-gaap:OtherGeneralAndAdministrativeExpense id="ID_1062" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_CorporateAndOtherMember" unitRef="USD" decimals="-3"> 293207000 </us-gaap:OtherGeneralAndAdministrativeExpense>
<us-gaap:PropertyPlantAndEquipmentUsefulLife id="ID_1063" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_BuildingAndBuildingImprovementsMember_us-gaap_RangeAxis_us-gaap_MaximumMember"> P39Y </us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:Goodwill id="ID_1064" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorMember" unitRef="USD" decimals="-3"> 571932000 </us-gaap:Goodwill>
<us-gaap:OtherGeneralAndAdministrativeExpense id="ID_1065" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherGeneralAndAdministrativeExpense>
<us-gaap:ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock id="ID_1066" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Awards</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Price</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, January 1, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,919 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3.35 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,826 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7.86 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Vested (restriction lapsed)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (506)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3.14 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (710)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8.85 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, December 31, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,529 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5.02 </font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Awards</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Price</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, January 1, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,892 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6.83 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,040 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8.88 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Vested (restriction lapsed)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (64)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6.86 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (410)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7.76 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, December 31, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,458 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7.54 </font></td></tr></table></div>
</us-gaap:ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock>
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment id="ID_1067" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_CorporateAndOtherMember" unitRef="USD" decimals="-3"> 41312000 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
<us-gaap:OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent id="ID_1068" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 2559000 </us-gaap:OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent>
<us-gaap:UnrecognizedTaxBenefits id="ID_1069" contextRef="AS_OF_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 138437000 </us-gaap:UnrecognizedTaxBenefits>
<us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders id="ID_1070" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 40027000 </us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders>
<us-gaap:IncomeLossFromEquityMethodInvestments id="ID_1071" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -9416000 </us-gaap:IncomeLossFromEquityMethodInvestments>
<us-gaap:BusinessCombinationsAndOtherPurchaseOfBusinessTransactionsPolicyTextBlock id="ID_1072" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Business Combinations</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company accounts for its business combinations under the acquisition method of accounting. The</font><font style='font-family:Times New Roman;font-size:10pt;' > total cost of an acquisition is allocated to the underlying identifiable net assets, based on their respective estimated fair values. The excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill. Dete</font><font style='font-family:Times New Roman;font-size:10pt;' >rmining the fair value of assets acquired and liabilities assumed requires management's judgment and often involves the use of significant estimates and assumptions, including assumptions with respect to future cash inflows and outflows, discount rates, as</font><font style='font-family:Times New Roman;font-size:10pt;' >set lives and market multiples, among other items. Various acquisition agreements may include contingent purchase consideration based on performance requirements of the investee. The Company accounts for these payments in conformity with the provisions o</font><font style='font-family:Times New Roman;font-size:10pt;' >f ASC 805-20-30, which establish the requirements related to recognition of certain assets and liabilities arising from contingencies.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
</us-gaap:BusinessCombinationsAndOtherPurchaseOfBusinessTransactionsPolicyTextBlock>
<us-gaap:ProfitLoss id="ID_1073" contextRef="FROM_Oct01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -50165000 </us-gaap:ProfitLoss>
<us-gaap:PrepaidExpenseAndOtherAssetsCurrent id="ID_1074" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 37661000 </us-gaap:PrepaidExpenseAndOtherAssetsCurrent>
<us-gaap:Revenues id="ID_1075" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_CorporateAndOtherMember" unitRef="USD" decimals="-3"> 0 </us-gaap:Revenues>
<us-gaap:DeferredFinanceCostsNoncurrentNet id="ID_1076" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 143763000 </us-gaap:DeferredFinanceCostsNoncurrentNet>
<us-gaap:AssetsNoncurrent id="ID_1077" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 533456000 </us-gaap:AssetsNoncurrent>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 id="ID_1078" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember_us-gaap_RangeAxis_us-gaap_MaximumMember"> P6Y4M </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
<us-gaap:DisposalGroupNotDiscontinuedOperationGainLossOnDisposal id="ID_1079" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_cik0000739708_GreenBayRadioStationsMember" unitRef="USD" decimals="-5"> 500000 </us-gaap:DisposalGroupNotDiscontinuedOperationGainLossOnDisposal>
<us-gaap:DebtDisclosureTextBlock id="ID_1080" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:12pt;font-weight:bold;margin-left:0pt;' >NOTE 5 – LONG-TERM DEBT</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Long-term debt at </font><font style='font-family:Times New Roman;font-size:10pt;' >December 31,</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >consisted of the following:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Senior Secured Credit Facilities</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,231,222 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,225,754 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Receivables Based Facility Due 2017</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 247,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Priority Guarantee Notes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,324,815 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,324,815 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Subsidiary Revolving Credit Facility Due 2018</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other Secured Subsidiary Debt</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 19,257 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 21,124 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Consolidated Secured Debt</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,575,294 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,818,693 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:364.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:364.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >10.75% Senior Cash Pay Notes Due 2016</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 94,304 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11.00%/11.75% Senior Toggle Notes Due 2016</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 127,941 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >14.0% Senior Notes Due 2021</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,661,697 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,404,202 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Legacy Notes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 667,900 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,436,455 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >10.0% Senior Notes Due 2018</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 730,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Subsidiary Senior Notes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,925,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,925,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other Subsidiary Debt</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,024 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Purchase accounting adjustments and original issue discount </font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (234,897)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (322,392)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,326,018 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,484,213 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Less: current portion</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,604 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 453,734 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total long-term debt</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,322,414 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,030,479 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company’s weighted average interest rates at </font><font style='font-family:Times New Roman;font-size:10pt;' >December 31,</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' > were </font><font style='font-family:Times New Roman;font-size:10pt;' >8.1</font><font style='font-family:Times New Roman;font-size:10pt;' >% and</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >7.6</font><font style='font-family:Times New Roman;font-size:10pt;' >%, respectively. The </font><font style='font-family:Times New Roman;font-size:10pt;' >aggregate market value of the Company’s debt based on market prices for which quotes were available was approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >19.7</font><font style='font-family:Times New Roman;font-size:10pt;' > billion and $</font><font style='font-family:Times New Roman;font-size:10pt;' >20.5</font><font style='font-family:Times New Roman;font-size:10pt;' > billion</font><font style='font-family:Times New Roman;font-size:10pt;' > at </font><font style='font-family:Times New Roman;font-size:10pt;' >December 31,</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Under the fair value hierarchy established by ASC 820-10-35, the </font><font style='font-family:Times New Roman;font-size:10pt;' >fair </font><font style='font-family:Times New Roman;font-size:10pt;' >market value of the Company’s debt is classified </font><font style='font-family:Times New Roman;font-size:10pt;' >as either Level 1 or Level 2</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Senior Secured Credit Facilities</font></td><td style='width:80.25pt;text-align:left;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:6.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:277.5pt;text-align:left;border-color:Black;min-width:277.5pt;' ></td><td style='width:80.25pt;text-align:left;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='6' rowspan='1' style='width:458.25pt;text-align:left;border-color:Black;min-width:458.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2014, the Company had senior secured credit facilities consisting of:</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:7.5pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:277.5pt;text-align:left;border-color:Black;min-width:277.5pt;' ></td><td style='width:80.25pt;text-align:left;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:80.25pt;text-align:left;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:277.5pt;text-align:left;border-color:Black;min-width:277.5pt;' ></td><td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Maturity Date</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term Loan B</font></td><td style='width:80.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1/29/2016</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 916,061 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,890,978 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term Loan C</font></td><td style='width:80.25pt;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1/29/2016</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15,161 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 34,776 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term Loan D</font></td><td style='width:80.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1/30/2019</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,000,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,000,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term Loan E</font></td><td style='width:80.25pt;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7/30/2019</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,300,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,300,000 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:277.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:277.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Senior Secured Credit Facilities</font></td><td style='width:80.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,231,222 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,225,754 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > is the primary borrower under the senior secured credit facilities, except that certain of its domestic restricted subsidiaries are co-borrowers under a portion of the term loan facilities</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Interest Rate and Fees</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Borrowings under </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > senior secured credit facilities bear interest at a rate equal to an applicable margin plus, at </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > option, either (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >)</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >a base rate determined by reference to the higher of (A)</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >t</font><font style='font-family:Times New Roman;font-size:10pt;' >he prime lending rate publicly announced by the administrative agent or (B)</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >the Federal funds effective rate from time to time plus </font><font style='font-family:Times New Roman;font-size:10pt;' >0.50</font><font style='font-family:Times New Roman;font-size:10pt;' >%, or (ii)</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >a Eurocurrency rate determined by reference to the costs of funds for deposits for the interest period releva</font><font style='font-family:Times New Roman;font-size:10pt;' >nt to such borrowing adjusted for certain additional costs.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The margin percentages applicable to the term loan facilities are the following percentages per annum:</font></p><p style='text-align:left;line-height:12pt;' ></p><ul><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >with respect to loans under the </font><font style='font-family:Times New Roman;font-size:10pt;' >Term Loan </font><font style='font-family:Times New Roman;font-size:10pt;' >B</font><font style='font-family:Times New Roman;font-size:10pt;' > and</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Term Loan </font><font style='font-family:Times New Roman;font-size:10pt;' >C </font><font style='font-family:Times New Roman;font-size:10pt;' >–</font><font style='font-family:Times New Roman;font-size:10pt;' > asset sale facility, (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >)</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >2.65</font><font style='font-family:Times New Roman;font-size:10pt;' >%, in the case of base rate loans and (ii)</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >3.65</font><font style='font-family:Times New Roman;font-size:10pt;' >%, in the </font><font style='font-family:Times New Roman;font-size:10pt;' >case of Eurocurrency rate loans; and</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >with respect to loans under the </font><font style='font-family:Times New Roman;font-size:10pt;' >Term Loan D</font><font style='font-family:Times New Roman;font-size:10pt;' >, (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >)</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >5.75</font><font style='font-family:Times New Roman;font-size:10pt;' >% in the case of base rate loans and (ii)</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >6.75</font><font style='font-family:Times New Roman;font-size:10pt;' >% in the case of Eurocurrency rate loans; and</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >with respect to l</font><font style='font-family:Times New Roman;font-size:10pt;' >oans under the </font><font style='font-family:Times New Roman;font-size:10pt;' >Term Loan E</font><font style='font-family:Times New Roman;font-size:10pt;' >, (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >)</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >6.5</font><font style='font-family:Times New Roman;font-size:10pt;' >0</font><font style='font-family:Times New Roman;font-size:10pt;' >% in the case of base rate loans and (ii)</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >7.5</font><font style='font-family:Times New Roman;font-size:10pt;' >0</font><font style='font-family:Times New Roman;font-size:10pt;' >% in the case of Eurocurrency rate loans</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></li></ul><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The margin percentages are subject to adjustment based upon </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > leverage ratio.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Collateral and </font><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;' >Guarantees</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The senior secured credit facilities are guaranteed by </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > and each of </font><font style='font-family:Times New Roman;font-size:10pt;' >its</font><font style='font-family:Times New Roman;font-size:10pt;' > existing and future material wholly-owned domestic restricted subsidiaries, subject to certain exceptions.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >All obligations</font><font style='font-family:Times New Roman;font-size:10pt;' > under the senior secured credit facilities, and the guarantees of those obligations, are secured, subject to permitted liens, including prior liens permitted by the indenture governing the </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >senior notes, and other exceptions,</font><font style='font-family:Times New Roman;font-size:10pt;' > by:</font></p><p style='text-align:left;line-height:12pt;' ></p><ul><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >a lien on </font><font style='font-family:Times New Roman;font-size:10pt;' >our</font><font style='font-family:Times New Roman;font-size:10pt;' > capital stock</font><font style='font-family:Times New Roman;font-size:10pt;' >;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >100</font><font style='font-family:Times New Roman;font-size:10pt;' >% of the capital stock of any future material wholly-owned domestic license subsidiary that is not a “Restricted Subsidiary” under the indenture governing the </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > senior notes;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >certain assets that do not constitute “principal property” (as defined in the indenture governing the </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > senior notes);</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >certain specified assets of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > and the guarantors that</font><font style='font-family:Times New Roman;font-size:10pt;' > constitute “principal property” (as defined in the indenture governing the </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > senior notes) securing obligations under the senior secured credit facilities up to the maximum amount permitted to be secured by such assets without</font><font style='font-family:Times New Roman;font-size:10pt;' > requiring equal and ratable security under the indenture governing the </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > senior notes; and</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >a lien on the accounts receivable and related assets securing </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > receivables based credit facility that is junior to the lien securing </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > obligations under such credit facility.</font></li></ul><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Certain Covenants and Events of Default</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >T</font><font style='font-family:Times New Roman;font-size:10pt;' >he senior secured credit facilities include negative covenants that, su</font><font style='font-family:Times New Roman;font-size:10pt;' >bject to significant exceptions, limit </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > ability and the ability of its restricted subsidiaries to, among other things:</font></p><p style='text-align:left;line-height:12pt;' ></p><ul><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >incur additional indebtedness;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >create liens on assets;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >engage in mergers, consolidations, liquidations a</font><font style='font-family:Times New Roman;font-size:10pt;' >nd dissolutions;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >sell assets;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >pay dividends and distributions or repurchase </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > capital stock;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >make investments, loans, or advances;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >prepay certain junior indebtedness;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >engage in certain transactions with affiliates;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >amend mate</font><font style='font-family:Times New Roman;font-size:10pt;' >rial agreements governing certain junior indebtedness; and</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >change lines of business.</font></li></ul></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Receivables Based Credit Facility</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >As of December </font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >there were no </font><font style='font-family:Times New Roman;font-size:10pt;' >borrowings outstanding under </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > receivables based credit facility.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The receivables based credit facility provides revolving credit commitments of $</font><font style='font-family:Times New Roman;font-size:10pt;' >535.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million, subject to a borrowing base. The borrowing base at any time equals </font><font style='font-family:Times New Roman;font-size:10pt;' >90</font><font style='font-family:Times New Roman;font-size:10pt;' >% of the eligible accounts receivable of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > and certain of its subsidiaries. The receivables based credit facility includes a letter of credit su</font><font style='font-family:Times New Roman;font-size:10pt;' >b-facility and a </font><font style='font-family:Times New Roman;font-size:10pt;' >swingline</font><font style='font-family:Times New Roman;font-size:10pt;' > loan sub-facility.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > and certain subsidiary borrowers are the borrowers under the receivables based credit facility. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > has the ability to designate one or more of its res</font><font style='font-family:Times New Roman;font-size:10pt;' >tricted subsidiaries as borrowers under the receivables based credit facility. The receivables based credit facility loans </font><font style='font-family:Times New Roman;font-size:10pt;' >are available in U.S. dollars </font><font style='font-family:Times New Roman;font-size:10pt;' >and letters of credit are available in </font><font style='font-family:Times New Roman;font-size:10pt;' >a variety of currencies including U.S. dollars, Euros, Pounds St</font><font style='font-family:Times New Roman;font-size:10pt;' >erling, and Canadian dollars.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Interest Rate and Fees</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Borrowings under the receivables based credit facility bear interest at a rate per annum equal to an applicable margin plus, at </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > option, either (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >) a base rate determined</font><font style='font-family:Times New Roman;font-size:10pt;' > by reference to the highest of (a) the prime rate of Citibank, N.A. and (b) the Federal Funds rate plus </font><font style='font-family:Times New Roman;font-size:10pt;' >0.50</font><font style='font-family:Times New Roman;font-size:10pt;' >% or (ii) a Eurocurrency rate determined by reference to the rate (adjusted for statutory reserve requirements for Eurocurrency liabilities) for Eu</font><font style='font-family:Times New Roman;font-size:10pt;' >rodollar deposits for the interest period relevant to such borrowing. The applicable margin for borrowings under the receivables based credit facility ranges from </font><font style='font-family:Times New Roman;font-size:10pt;' >1.50</font><font style='font-family:Times New Roman;font-size:10pt;' >% to </font><font style='font-family:Times New Roman;font-size:10pt;' >2.00</font><font style='font-family:Times New Roman;font-size:10pt;' >% for Eurocurrency borrowings and from </font><font style='font-family:Times New Roman;font-size:10pt;' >0.50</font><font style='font-family:Times New Roman;font-size:10pt;' >% to </font><font style='font-family:Times New Roman;font-size:10pt;' >1.00</font><font style='font-family:Times New Roman;font-size:10pt;' >% for base-rate borrowings, </font><font style='font-family:Times New Roman;font-size:10pt;' >depending on average </font><font style='font-family:Times New Roman;font-size:10pt;' >daily </font><font style='font-family:Times New Roman;font-size:10pt;' >excess availability under the receivables based credit facility during the prior fiscal quarter.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >In addition to paying interest on outstanding principal under the receivables based credit facility, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >is required to pay a commitment fee to the lenders under the receivables based credit facility in respect of the unutilized commitments thereunder. </font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >The commitment fee rate </font><font style='font-family:Times New Roman;font-size:10pt;' >ranges from</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >0.25</font><font style='font-family:Times New Roman;font-size:10pt;' >% </font><font style='font-family:Times New Roman;font-size:10pt;' >to</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >0.375</font><font style='font-family:Times New Roman;font-size:10pt;' >% per annum</font><font style='font-family:Times New Roman;font-size:10pt;' > dependent upon average unused commitments dur</font><font style='font-family:Times New Roman;font-size:10pt;' >ing the prior quarter</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > must also pay customary letter of credit fees.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Maturity</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Borrowings under the receivables based credit facility will mature, and lending commitments thereunder will terminate, on the fifth anniversary </font><font style='font-family:Times New Roman;font-size:10pt;' >of the effectiveness of the receivables based credit facility (</font><font style='font-family:Times New Roman;font-size:10pt;' >December 24, 2017</font><font style='font-family:Times New Roman;font-size:10pt;' >), provided that, (a) the maturity date will be </font><font style='font-family:Times New Roman;font-size:10pt;' >October 31, 2015</font><font style='font-family:Times New Roman;font-size:10pt;' > if on October 30, 2015, greater than $</font><font style='font-family:Times New Roman;font-size:10pt;' >500.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million in aggregate principal amount is owing under certain of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > term loan credit facilities, (b) the maturity date will be </font><font style='font-family:Times New Roman;font-size:10pt;' >May 3, 2016</font><font style='font-family:Times New Roman;font-size:10pt;' > if on May 2, 2016 greater than $</font><font style='font-family:Times New Roman;font-size:10pt;' >500.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million aggregate principal amount of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > 10.75% senior cash pay notes due 2016 and 11.0</font><font style='font-family:Times New Roman;font-size:10pt;' >0%/11.75% senior toggle notes due 2016 are outstanding and (c) in the case of any debt under clauses (a) and (b) that is amended or refinanced in any manner that extends the maturity date of such debt to a date that is on or before the date that is five ye</font><font style='font-family:Times New Roman;font-size:10pt;' >ars after the effectiveness of the receivables based credit facility, the maturity date will be one day prior to the maturity date of such debt after giving effect to such amendment or refinancing if greater than $</font><font style='font-family:Times New Roman;font-size:10pt;' >500,000,000</font><font style='font-family:Times New Roman;font-size:10pt;' > in aggregate principal amount </font><font style='font-family:Times New Roman;font-size:10pt;' >of such debt is outstanding</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Guarantees and Security</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The facility is guaranteed by, subject to certain exceptions, the guarantors of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > senior secured credit facilities. All obligations under the receivables based credit faci</font><font style='font-family:Times New Roman;font-size:10pt;' >lity, and the guarantees of those obligations, are secured by a perfected security interest in all of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > and all of the guarantors’ accounts receivable and related assets and proceeds thereof that is senior to the security int</font><font style='font-family:Times New Roman;font-size:10pt;' >erest of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > senior secured credit facilities in such accounts receivable and related assets and proceeds thereof, subject to permitted liens, including prior liens permitted by the indenture governing certain of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > Legacy Notes,</font><font style='font-family:Times New Roman;font-size:10pt;' > and certain exceptions.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Certain Covenants and Events of Default</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >T</font><font style='font-family:Times New Roman;font-size:10pt;' >he receivables based credit facility includes negative covenants that, subject to significant exceptions, limit </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > ability and </font><font style='font-family:Times New Roman;font-size:10pt;' >the ability of its restricted subsidiaries to, among other things:</font></p><p style='text-align:left;line-height:12pt;' ></p><ul><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >incur additional indebtedness;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >create liens on assets;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >engage in mergers, consolidations, liquidations and dissolutions;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >sell assets;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >pay dividends and distributions or repurchase capital </font><font style='font-family:Times New Roman;font-size:10pt;' >stock;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >make investments, loans, or advances;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >prepay certain junior indebtedness;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >engage in certain transactions with affiliates;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >amend material agreements governing certain junior indebtedness; and</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >change lines of business.</font></li></ul></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Priority Guarantee Notes</font></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:6.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='13' rowspan='1' style='width:543pt;text-align:left;border-color:Black;min-width:543pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2014, the Company had outstanding Priority Guarantee Notes consisting of:</font></td></tr><tr style='height:6.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Maturity Date</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Rate</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Payment Terms</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0% Priority Guarantee Notes due 2019</font></td><td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >12/15/2019</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually in arrears on June 15 and December 15 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,999,815 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,999,815 </font></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0% Priority Guarantee Notes due 2021</font></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/1/2021</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0%</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually in arrears on March 1 and September 1 of each year</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,750,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,750,000 </font></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11.25% Priority Guarantee Notes due 2021</font></td><td style='width:61.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/1/2021</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11.25%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually on March 1 and September 1 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 575,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 575,000 </font></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0% Priority Guarantee Notes due 2022</font></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9/15/2022</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0%</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually in arrears on March 15 and September 15 of each year</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,000,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td colspan='4' rowspan='1' style='width:227.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:227.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Priority Guarantee Notes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,324,815 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,324,815 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Guarantees and Security</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Priority Guarantee Notes are </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > senior obligations and are fully and unconditionally guaranteed, jointly and severally, on a senior basis by the guarantors named in the indenture</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' >. The Priority </font><font style='font-family:Times New Roman;font-size:10pt;' >Guarantee Notes and the guarantors’ obligations under the guarantees are secured by (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >) a lien on (a) </font><font style='font-family:Times New Roman;font-size:10pt;' >our</font><font style='font-family:Times New Roman;font-size:10pt;' > capital stock</font><font style='font-family:Times New Roman;font-size:10pt;' > and (b) certain property and related assets that do not constitute “principal property</font><font style='font-family:Times New Roman;font-size:10pt;' >,</font><font style='font-family:Times New Roman;font-size:10pt;' >” in each cas</font><font style='font-family:Times New Roman;font-size:10pt;' >e equal in priority to the liens securing the obligations under </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > senior secured credit facilities and (ii) a lien on the accounts receivable and related assets securing </font><font style='font-family:Times New Roman;font-size:10pt;' >our receivables based credit facility junior in priorit</font><font style='font-family:Times New Roman;font-size:10pt;' >y to the lien securing the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > obligations thereunder, subject to certain exceptions. In addition to the collateral granted to secure the Priority Guarantee Notes due 2019, the collateral agent and the trustee for the Priority Guarantee Note</font><font style='font-family:Times New Roman;font-size:10pt;' >s due 2019 entered into an agreement with the administrative agent for the lenders under the senior secured credit facilities to turn over to the trustee under the Priority Guarantee Notes due 2019, for the benefit of the holders of the Priority Guarantee </font><font style='font-family:Times New Roman;font-size:10pt;' >Notes due 2019, a pro</font><font style='font-family:Times New Roman;font-size:10pt;' > rata share of any recovery received on account of the principal properties, subject to certain terms and conditions. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Redemptions</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company </font><font style='font-family:Times New Roman;font-size:10pt;' >may redeem the Priority Guarantee Notes at its option, in whole or part, </font><font style='font-family:Times New Roman;font-size:10pt;' >at </font><font style='font-family:Times New Roman;font-size:10pt;' >redemption pr</font><font style='font-family:Times New Roman;font-size:10pt;' >ice</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >set forth in the indentures</font><font style='font-family:Times New Roman;font-size:10pt;' >, plus accrued and unpaid interest to the redemption date</font><font style='font-family:Times New Roman;font-size:10pt;' >s plus applicable premiums</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Certain Covenants</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The indenture</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > governing the Priority Guarantee Notes contain covenants that limit </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > ability and the ability of its restricted subsidiaries to, among other things: (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >) pay dividends, redeem stock or make other distributions or investments; (ii) incur additional debt or issue certain preferred stock; (iii) modify any of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > existing senior notes; (iv) transfer or sell assets; (v) engage in certain transactions with affiliates; (vi) create restrictions on dividends or other payments by the restricted subsidiaries; and (vii) merge, consolidate or sell substantiall</font><font style='font-family:Times New Roman;font-size:10pt;' >y all of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > assets. The indenture</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > contain covenants that limit </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >ability and the ability of its restricted subsidiaries to, among other things: (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >) create liens on assets and (ii) materi</font><font style='font-family:Times New Roman;font-size:10pt;' >ally impair the value of the security interests taken with respect to the collateral for the benefit of the notes collateral agent and the holders of the Priority Guarantee Notes. The indenture</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > also provide for customary events of default.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Subsidiary Senior Revolving Credit Facility Due 2018</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >During the third quarter of 2013, CCOH entered into a five-year senior secured revolving credit facility with an aggregate principal amount of $</font><font style='font-family:Times New Roman;font-size:10pt;' >75.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million. The revolving credit facility may be used </font><font style='font-family:Times New Roman;font-size:10pt;' >for working capital needs, to issue letters of credit and for other general corporate purposes. At December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, there were no amounts outstanding under the revolving credit facility, and $</font><font style='font-family:Times New Roman;font-size:10pt;' >62.2</font><font style='font-family:Times New Roman;font-size:10pt;' > million of letters of credit under the revolving cred</font><font style='font-family:Times New Roman;font-size:10pt;' >it facility, which reduce availability under the facility.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Senior Cash Pay Notes and Senior Toggle Notes</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >As of December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > had </font><font style='font-family:Times New Roman;font-size:10pt;' >no principal amounts outstanding of</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >10.75% </font><font style='font-family:Times New Roman;font-size:10pt;' >senior ca</font><font style='font-family:Times New Roman;font-size:10pt;' >sh pay notes due 2016 and </font><font style='font-family:Times New Roman;font-size:10pt;' >11.00%/11.75% senior toggle notes due 2016.</font><font style='font-family:Times New Roman;font-size:10pt;' > In August 2014, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > fully redeemed the remaining notes with proceeds from the issuance of 14.0% Senior Notes due 2021.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >14.0% Senior Notes due 2021</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >As of December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > had outstanding approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.66</font><font style='font-family:Times New Roman;font-size:10pt;' > billion of aggregate principal amount of 14.0% Senior Notes due 2021 (net of $</font><font style='font-family:Times New Roman;font-size:10pt;' >423.4</font><font style='font-family:Times New Roman;font-size:10pt;' > million principal amount issued to, and held by, </font><font style='font-family:Times New Roman;font-size:10pt;' >a subsidiary of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' >).</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Senior Notes due 2021 </font><font style='font-family:Times New Roman;font-size:10pt;' >mature on February</font><font style='font-family:Times New Roman;font-size:10pt;' > 1, 2021. </font><font style='font-family:Times New Roman;font-size:10pt;' >Interest </font><font style='font-family:Times New Roman;font-size:10pt;' >on the Senior Notes due 2021 is </font><font style='font-family:Times New Roman;font-size:10pt;' >payable semi-annually on February</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >1 and August</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >1 of each year, </font><font style='font-family:Times New Roman;font-size:10pt;' >which began on </font><font style='font-family:Times New Roman;font-size:10pt;' >August</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >1, 2013. </font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Interest on the </font><font style='font-family:Times New Roman;font-size:10pt;' >Senior Notes due 2021 </font><font style='font-family:Times New Roman;font-size:10pt;' >will be paid at the rate of (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >)</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >12.0% per annum in cash and (ii)</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >2.0% per annum through the issuance of </font><font style='font-family:Times New Roman;font-size:10pt;' >payment-in-kind notes (the “</font><font style='font-family:Times New Roman;font-size:10pt;' >PIK Notes</font><font style='font-family:Times New Roman;font-size:10pt;' >”)</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Any PIK Notes issued in certificated form will be dated as of the applicable interest pa</font><font style='font-family:Times New Roman;font-size:10pt;' >yment date and will bear interest from and after such date. All </font><font style='font-family:Times New Roman;font-size:10pt;' >PIK </font><font style='font-family:Times New Roman;font-size:10pt;' >Notes issued will mature on </font><font style='font-family:Times New Roman;font-size:10pt;' >February</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >1, 2021</font><font style='font-family:Times New Roman;font-size:10pt;' > and have the same rights and benefits as the </font><font style='font-family:Times New Roman;font-size:10pt;' >Senior Notes due 2021</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >The </font><font style='font-family:Times New Roman;font-size:10pt;' >Senior Notes due 2021 </font><font style='font-family:Times New Roman;font-size:10pt;' >are fully and unconditionally guaranteed on a se</font><font style='font-family:Times New Roman;font-size:10pt;' >nior basis by the guarantors named in the indenture governing such notes. The guarantee is structurally subordinated to all existing and future indebtedness and other liabilities of any subsidiary of the applicable subsidiary guarantor that is not also a </font><font style='font-family:Times New Roman;font-size:10pt;' >guarantor of the </font><font style='font-family:Times New Roman;font-size:10pt;' >Senior Notes due 2021</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;' > The guarantees are subordinated to the guarantees of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > senior secured credit facility and certain other permitted debt, but rank equal to all other senior indebtedness of the guarantor</font><font style='font-family:Times New Roman;font-size:10pt;' >s.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > may redeem the Senior Notes due 2021, in whole or in part, within certain dates, at the redemption prices set forth in the indenture plus accrued and unpaid interest to the redemption date.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The indenture governing the </font><font style='font-family:Times New Roman;font-size:10pt;' >Se</font><font style='font-family:Times New Roman;font-size:10pt;' >nior Notes due 2021 </font><font style='font-family:Times New Roman;font-size:10pt;' >contain</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > covenants that limit </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > ability and the ability of its restricted subsidiaries to, among other things: (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >) incur additional indebtedness or issue certain preferred stock; (ii) pay dividends on, or </font><font style='font-family:Times New Roman;font-size:10pt;' >make distributions in respect of, their capital stock or repurchase their capital stock; (iii) make certain investments or other restricted payments; (iv) sell certain assets; (v) create liens or use assets as security in other transactions; (vi) merge, co</font><font style='font-family:Times New Roman;font-size:10pt;' >nsolidate or transfer or dispose of substantially all of their assets; (vii) engage in transactions with affiliates; and (viii) designate their subsidiaries as unrestricted subsidiaries.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='3' rowspan='1' style='width:177pt;text-align:left;border-color:Black;min-width:177pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Legacy Notes</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:6.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:33pt;' ><td colspan='13' rowspan='1' style='width:543pt;text-align:left;border-color:Black;min-width:543pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2014, the Company had outstanding senior notes (net of $57.1 million aggregate principal amount held by a subsidary of the Company) consisting of:</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5.5% Senior Notes Due 2014</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 461,455 </font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4.9% Senior Notes Due 2015</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 250,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5.5% Senior Notes Due 2016</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 192,900 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 250,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.875% Senior Notes Due 2018</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 175,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 175,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.25% Senior Notes Due 2027</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 300,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 300,000 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td colspan='4' rowspan='1' style='width:227.25pt;text-align:left;border-color:Black;min-width:227.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Legacy Notes</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 667,900 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,436,455 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The</font><font style='font-family:Times New Roman;font-size:10pt;' >se</font><font style='font-family:Times New Roman;font-size:10pt;' > senior notes were the obligations of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > prior to the merger. The senior notes are senior, unsecured obligations that are effectively subordinated to </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > secured indebtedness to the extent of the value of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > assets securing such indebtedness and are not guaranteed by any of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > subsidiaries and, as a result, are structurally subordinated to all ind</font><font style='font-family:Times New Roman;font-size:10pt;' >ebtedness and other liabilities of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > subsidiaries. The senior notes rank equally in right of payment with all of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > existing and future senior indebtedness and senior in right of payment to all </font><font style='font-family:Times New Roman;font-size:10pt;' >existing and future subordinated indebtedness.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >10.0% Senior Notes due 2018</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:36pt;' >As of December 31, 2014, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > had outstanding $730.0 million aggregate principal amount of senior notes due 2018 (net of $120.0 million aggregate principal amount held by a subsidiary of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' >). </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The senior notes due 2018 mature on January 15, 2018 and bear interest at a rate of 10.0% per annum, payable semi-annually on January 15 and July 15 of each year, which began on July 15, 2014.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:36pt;' >The senior notes due 2018 are senior, un</font><font style='font-family:Times New Roman;font-size:10pt;' >secured obligations that are effectively subordinated to </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > secured indebtedness to the extent of the value of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > assets securing such indebtedness and are not guaranteed by any of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > subsidiaries and, as a result, are structurally subordinated to all indebtedness and other liabilities of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > subsidiaries. The senior notes due 2018 rank equally in right of payment with all of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s</font><font style='font-family:Times New Roman;font-size:10pt;' > existing and future senior indebtedness and senior in right of payment to all existing and future subordinated indebtedness.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='3' rowspan='1' style='width:177pt;text-align:left;border-color:Black;min-width:177pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Subsidiary Senior Notes</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:4.5pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:26.25pt;' ><td colspan='13' rowspan='1' style='width:543pt;text-align:left;border-color:Black;min-width:543pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2014, the Company's subsidiary, Clear Channel Worldwide Holdings, Inc. ("CCWH") had outstanding notes consisting of:</font></td></tr><tr style='height:6pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Maturity Date</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Rate</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Payment Terms</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >CCWH Senior Notes:</font></td><td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:51pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.5% Series A Senior Notes Due 2022</font></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11/15/2022</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.5%</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable to the trustee weekly in arrears and to the noteholders on May 15 and November 15 of each year</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 735,750 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 735,750 </font></td></tr><tr style='height:51pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.5% Series B Senior Notes Due 2022</font></td><td style='width:61.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11/15/2022</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.5%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable to the trustee weekly in arrears and to the noteholders on May 15 and November 15 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,989,250 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,989,250 </font></td></tr><tr style='height:12.75pt;' ><td colspan='3' rowspan='1' style='width:177pt;text-align:left;border-color:Black;min-width:177pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >CCWH Senior Subordinated Notes:</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:54.75pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.625% Series A Senior Notes Due 2020</font></td><td style='width:61.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/15/2020</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.625%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable to the trustee weekly in arrears and to the noteholders on March 15 and September 15 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 275,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 275,000 </font></td></tr><tr style='height:56.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.625% Series B Senior Notes Due 2020</font></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/15/2020</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.625%</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable to the trustee weekly in arrears and to the noteholders on March 15 and September 15 of each year</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,925,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,925,000 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:100.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total CCWH Notes</font></td><td style='width:61.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,925,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,925,000 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Guarantees and Security</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The CCWH Senior Notes are guaranteed by CCOH, Clear Channel Outdoor, Inc. (“CCOI”) and certain of CCOH’s direct and indirect subsidiaries. The CCWH Senior Subordinated Notes are fully and unconditionally guaranteed, jointly and </font><font style='font-family:Times New Roman;font-size:10pt;' >severally, on a senior subordinated basis by CCOH, CCOI and certain of CCOH’s other domestic subsidiaries and rank junior to each guarantor’s existing and future senior debt, including the CCWH Senior Notes, equally with each guarantor’s existing and futur</font><font style='font-family:Times New Roman;font-size:10pt;' >e senior subordinated debt and ahead of each guarantor’s existing and future debt that expressly provides that it is subordinated to the guarantees of the CCWH Senior Subordinated Notes.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The CCWH Senior Notes are senior obligations that rank </font><font style='font-family:Times New Roman;font-size:10pt;' >pari</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >passu</font><font style='font-family:Times New Roman;font-size:10pt;' > in</font><font style='font-family:Times New Roman;font-size:10pt;' > right of payment to all unsubordinated indebtedness of CCWH and the guarantees of the CCWH Senior Notes rank </font><font style='font-family:Times New Roman;font-size:10pt;' >pari</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >passu</font><font style='font-family:Times New Roman;font-size:10pt;' > in right of payment to all unsubordinated indebtedness of the guarantors.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >The CCWH Senior Subordinated Notes are unsecured senior subor</font><font style='font-family:Times New Roman;font-size:10pt;' >dinated obligations that rank junior to all of CCWH’s existing and future senior debt, including the CCWH Senior Notes, equally with any of CCWH’s existing and future senior subordinated debt and ahead of all of CCWH’s existing and future debt that express</font><font style='font-family:Times New Roman;font-size:10pt;' >ly provides that it is subordinated to the CCWH Subordinated Notes.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Redemptions</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >CCWH may redeem the </font><font style='font-family:Times New Roman;font-size:10pt;' >S</font><font style='font-family:Times New Roman;font-size:10pt;' >ubsidiary Senior Notes at its option, in whole or part</font><font style='font-family:Times New Roman;font-size:10pt;' >,</font><font style='font-family:Times New Roman;font-size:10pt;' > at redemption price</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > set forth in the indenture</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > plus accrued and unpaid interest to the redempti</font><font style='font-family:Times New Roman;font-size:10pt;' >on date</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > and plus an applicable premium.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Certain Covenants</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The indenture</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > governing the </font><font style='font-family:Times New Roman;font-size:10pt;' >Subsidiary Senior Notes contain</font><font style='font-family:Times New Roman;font-size:10pt;' > covenants that limit CCOH and its restricted subsidiaries ability to, among other things:</font></p><p style='text-align:left;line-height:12pt;' ></p><ul><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >incur or guarantee additional debt</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >or issue</font><font style='font-family:Times New Roman;font-size:10pt;' > certain preferred stock;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >in case of the Senior Notes, </font><font style='font-family:Times New Roman;font-size:10pt;' >create liens on its restricted subsidiaries’ assets to secure such debt;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >create restrictions on the payment of dividends or other amounts;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >enter into certain transactions with affiliates;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >merge or cons</font><font style='font-family:Times New Roman;font-size:10pt;' >olidate with another person, or sell or otherwise dispose of all or substantially all of its assets;</font><font style='font-family:Times New Roman;font-size:10pt;' > and</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >sell certain assets, including capital stock of its subsidiaries</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></li></ul></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='4' rowspan='1' style='width:393.75pt;text-align:left;border-color:Black;min-width:393.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Future Maturities of Long-term Debt</font></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='4' rowspan='1' style='width:393.75pt;text-align:left;border-color:Black;min-width:393.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Future maturities of long-term debt at December 31, 2014 are as follows:</font></td></tr><tr style='height:7.5pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(in thousands)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,604 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2016</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,126,920 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2017</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,208 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2018</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 909,272 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2019</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,300,043 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Thereafter</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,212,868 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:93.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font></sup></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,560,915 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><sup><font style='font-family:Times New Roman;font-size:10pt;margin-left:18pt;' >(1)</font></sup><font style='font-family:Times New Roman;font-size:10pt;' > Excludes purchase accounting adjustments and original issue discount of $</font><font style='font-family:Times New Roman;font-size:10pt;' >234.9</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million, which is amortized through interest expense over the life of the underlying debt obligations.</font></p></div>
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<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >SCHEDULE II</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >VALUATION AND QUALIFYING ACCOUNTS</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Allowance</font><font style='font-family:Times New Roman;font-size:10pt;' > for Doubtful Accounts</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Charges</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >to Costs, </font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Write-off</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance</font></td></tr><tr style='height:12.75pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Beginning</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expenses</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >of Accounts</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >at End of </font></td></tr><tr style='height:12.75pt;' ><td style='width:138.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Description</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >of period</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >and other</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Receivable</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font></sup></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Period</font></td></tr><tr style='height:12.75pt;' ><td style='width:138.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:138.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td></tr><tr style='height:20.25pt;' ><td style='width:138.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2012</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 63,098 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,715 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 14,082 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,814)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 55,917 </font></td></tr><tr style='height:20.25pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2013</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 55,917 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,242 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 28,492 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 734 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 48,401 </font></td></tr><tr style='height:20.25pt;' ><td style='width:138.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 48,401 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 14,167 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,368 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,502)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 39,698 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Primarily foreign currency adjustments and acquisition and/or divestiture activity.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >SCHEDULE II</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >VALUATION AND QUALIFYING ACCOUNTS</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Deferred Tax Asset Valuation Allowance</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:146.25pt;text-align:left;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Charges</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:146.25pt;text-align:center;border-color:Black;min-width:146.25pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at </font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >to Costs,</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance </font></td></tr><tr style='height:12.75pt;' ><td style='width:146.25pt;text-align:center;border-color:Black;min-width:146.25pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Beginning</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expenses</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >at end of</font></td></tr><tr style='height:15.75pt;' ><td style='width:146.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Description</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >of Period</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >and other </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font></sup></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reversal </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(2)</font></sup></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Adjustments</font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3)</font></sup></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Period</font></td></tr><tr style='height:20.25pt;' ><td style='width:146.25pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2012</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 193,052 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 14,309 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (21,727)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,948)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 183,686 </font></td></tr><tr style='height:20.25pt;' ><td style='width:146.25pt;text-align:left;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2013</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 183,686 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 149,107 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,165)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 327,623 </font></td></tr><tr style='height:20.25pt;' ><td style='width:146.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 327,623 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 356,583 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (230)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (28,318)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 655,658 </font></td></tr></table></div><p style='line-height:20pt;' /><div><ul><li style='list-style:decimal;text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >During </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > and </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, the Company recorded valuation allowances on deferred tax assets attributable to net operating losses in certain foreign jurisdictions. In addition, during </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > and </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > the Company recorded a valuation allowance of $143.5 million</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > and $339.8 million, respectively,</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > on a portion of its deferred tax assets attributable to federal and state net operating loss carryforwards due to the uncertainty of the ability to utilize thos</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >e losses in future periods.</font></li><li style='list-style:decimal;text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >During </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2012</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > and </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, the Company realized the tax benefits associated with certain foreign deferred tax assets, primarily related to foreign loss carryforwards, on which a valuation allowance was previously reco</font><font style='font-family:Times New Roman;font-size:10pt;' >rded. The associated valuation allowance was reversed in the period in which, based on the weight of available evidence, it is more-likely-than-not that the deferred tax asset will be realized.</font></li><li style='list-style:decimal;text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >During </font><font style='font-family:Times New Roman;font-size:10pt;' >2012</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, the Company adjusted ce</font><font style='font-family:Times New Roman;font-size:10pt;' >rtain valuation allowances as a result of changes in tax rates in certain jurisdictions and as a result of the expiration of carryforward periods for net operating loss carryforwards.</font></li></ul></div>
</us-gaap:ScheduleOfValuationAndQualifyingAccountsDisclosureTextBlock>
<us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities id="ID_1145" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 111884000 </us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities>
<us-gaap:ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingTableTextBlock id="ID_1146" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:63.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Options</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Price</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Average </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Remaining </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Contractual Term</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, January 1, 2014</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,509 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 33.11 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1)</font></sup></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Exercised</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (125)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 36.00 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expired</font></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (83)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 36.00 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td></tr><tr style='height:15.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, December 31, 2014 </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(2)</font></sup></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,301 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32.85 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4.3 years</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Exercisable </font></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,480 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 31.95 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4.0 years</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected to Vest</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 797 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 35.20 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4.7 years</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td></tr></table></div><p style='line-height:20pt;' /><div><ul><li style='list-style:decimal;text-align:left;margin-top:0pt;margin-bottom:0pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >The weighted average grant date fair value of options granted during the years ended December 31, 2012 </font><font style='font-family:Times New Roman;font-size:10pt;' >was $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.68</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >per share. No options were granted during the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >. </font></li><li style='list-style:decimal;text-align:left;margin-top:0pt;margin-bottom:0pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >Non-cash compensation expense has not been recorded with respect </font><font style='font-family:Times New Roman;font-size:10pt;' >to </font><font style='font-family:Times New Roman;font-size:10pt;' >0.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million shares</font><font style='font-family:Times New Roman;font-size:10pt;' > as the vesting of these options is subject to performance conditions that have not yet been determined probable to meet.</font></li></ul><p style='text-align:left;line-height:12pt;' ></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:63.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Options</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Price</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Average </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Remaining </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Contractual </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Aggregate </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Intrinsic </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Value</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, January 1, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,909 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9.60 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font></sup></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 627 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8.64 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Exercised </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(2) </font></sup></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (459)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5.23 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (628)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8.11 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expired</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (424)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10.58 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, December 31, 2014</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,025 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9.92 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5.1 years</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $13,956 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Exercisable </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,471 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10.56 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4.1 years</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $10,065 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected to vest</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,487 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8.08 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.8 years</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $3,729 </font></td></tr></table></div><p style='line-height:20pt;' /><div><ul><li style='list-style:decimal;text-align:left;margin-top:0pt;margin-bottom:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >The weighted average grant date fair value of CCOH options granted during the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >was $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.69</font><font style='font-family:Times New Roman;font-size:10pt;' >,</font><font style='font-family:Times New Roman;font-size:10pt;' > $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.10</font><font style='font-family:Times New Roman;font-size:10pt;' > and $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.43</font><font style='font-family:Times New Roman;font-size:10pt;' > per share, respectively.</font></li><li style='list-style:decimal;text-align:left;margin-top:0pt;margin-bottom:6pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >Cash received from option exercises during the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' > was </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >2.4</font><font style='font-family:Times New Roman;font-size:10pt;' > million</font><font style='font-family:Times New Roman;font-size:10pt;' >, $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.2</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >6.4</font><font style='font-family:Times New Roman;font-size:10pt;' > million, respectively. The total intrinsic value of the options exercised during the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014, 2013 and 2012</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >was $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.5</font><font style='font-family:Times New Roman;font-size:10pt;' > million</font><font style='font-family:Times New Roman;font-size:10pt;' >, $</font><font style='font-family:Times New Roman;font-size:10pt;' >5.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >7.9</font><font style='font-family:Times New Roman;font-size:10pt;' > million, respectively.</font></li></ul><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ></p></div>
</us-gaap:ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingTableTextBlock>
<us-gaap:Assets id="ID_1147" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_AllOtherSegmentsMember" unitRef="USD" decimals="-3"> 277388000 </us-gaap:Assets>
<us-gaap:ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill id="ID_1148" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_RegulatoryAssetAxis_cik0000739708_PermanentEasementsMember" unitRef="USD" decimals="-5"> 3400000 </us-gaap:ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill>
<us-gaap:DebtInstrumentMaturityDate id="ID_1149" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_TermLoanEMember_us-gaap_LongtermDebtTypeAxis_cik0000739708_TermLoanFacilitiesMember"> 2019-07-30 </us-gaap:DebtInstrumentMaturityDate>
<us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet id="ID_1150" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-5"> 234900000 </us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet>
<us-gaap:AvailableForSaleSecuritiesGrossUnrealizedLoss id="ID_1151" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 0 </us-gaap:AvailableForSaleSecuritiesGrossUnrealizedLoss>
<us-gaap:Revenues id="ID_1152" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_ConsolidationItemsAxis_us-gaap_OperatingSegmentsMember_us-gaap_StatementBusinessSegmentsAxis_us-gaap_IntersegmentEliminationMember" unitRef="USD" decimals="-3"> 0 </us-gaap:Revenues>
<us-gaap:Revenues id="ID_1153" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementGeographicalAxis_cik0000739708_ForeignOperationsMember" unitRef="USD" decimals="-8"> 1700000000 </us-gaap:Revenues>
<us-gaap:NoncurrentAssets id="ID_1154" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_StatementGeographicalAxis_country_US" unitRef="USD" decimals="-8"> 2000000000 </us-gaap:NoncurrentAssets>
<us-gaap:OtherComprehensiveIncomeLossNetOfTax id="ID_1155" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember" unitRef="USD" decimals="-3"> -108592000 </us-gaap:OtherComprehensiveIncomeLossNetOfTax>
<us-gaap:IncomeTaxExpenseBenefit id="ID_1156" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 58489000 </us-gaap:IncomeTaxExpenseBenefit>
<us-gaap:OtherNonoperatingIncomeExpense id="ID_1157" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 250000 </us-gaap:OtherNonoperatingIncomeExpense>
<us-gaap:LiabilitiesAndStockholdersEquity id="ID_1158" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 14040242000 </us-gaap:LiabilitiesAndStockholdersEquity>
<us-gaap:CommitmentsAndContingencies id="ID_1159" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" xsi:nil="true"> </us-gaap:CommitmentsAndContingencies>
<us-gaap:GoodwillImpairmentLoss id="ID_1160" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_OtherGoodwillMember" unitRef="USD" decimals="-3"> 0 </us-gaap:GoodwillImpairmentLoss>
<us-gaap:CurrentForeignTaxExpenseBenefit id="ID_1161" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 48579000 </us-gaap:CurrentForeignTaxExpenseBenefit>
<us-gaap:IncomeLossFromEquityMethodInvestments id="ID_1162" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_cik0000739708_ArnMember" unitRef="USD" decimals="-3"> -75318000 </us-gaap:IncomeLossFromEquityMethodInvestments>
<us-gaap:PropertyPlantAndEquipmentGross id="ID_1163" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_PropertyPlantAndEquipmentByTypeAxis_cik0000739708_TowersTransmittersAndStudioEquipmentMember" unitRef="USD" decimals="-3"> 453044000 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:DepreciationDepletionAndAmortization id="ID_1164" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 729285000 </us-gaap:DepreciationDepletionAndAmortization>
<us-gaap:DepreciationDepletionAndAmortization id="ID_1165" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 207431000 </us-gaap:DepreciationDepletionAndAmortization>
<us-gaap:DepreciationDepletionAndAmortization id="ID_1166" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_AllOtherSegmentsMember" unitRef="USD" decimals="-3"> 33543000 </us-gaap:DepreciationDepletionAndAmortization>
<us-gaap:OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax id="ID_1167" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 83752000 </us-gaap:OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax>
<us-gaap:FiniteLivedIntangibleAssetsGross id="ID_1168" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_cik0000739708_TalentContractsMember" unitRef="USD" decimals="-3"> 319617000 </us-gaap:FiniteLivedIntangibleAssetsGross>
<us-gaap:AdvertisingExpense id="ID_1169" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-5"> 113400000 </us-gaap:AdvertisingExpense>
<us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued id="ID_1170" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-5"> 49400000 </us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued>
<us-gaap:UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate id="ID_1171" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-5"> 100100000 </us-gaap:UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate>
<us-gaap:DirectOperatingCosts id="ID_1172" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 1028059000 </us-gaap:DirectOperatingCosts>
<us-gaap:SellingGeneralAndAdministrativeExpense id="ID_1173" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_IntersegmentEliminationMember" unitRef="USD" decimals="-3"> -54049000 </us-gaap:SellingGeneralAndAdministrativeExpense>
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment id="ID_1174" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 117647000 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
<us-gaap:IncreaseDecreaseInAccruedLiabilities id="ID_1175" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 34874000 </us-gaap:IncreaseDecreaseInAccruedLiabilities>
<us-gaap:ShareBasedCompensation id="ID_1176" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 16715000 </us-gaap:ShareBasedCompensation>
<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest id="ID_1177" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3"> 2142036000 </us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
<us-gaap:StockIssuedDuringPeriodValueOther id="ID_1178" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="USD" decimals="-3"> 77000 </us-gaap:StockIssuedDuringPeriodValueOther>
<us-gaap:PropertyPlantAndEquipmentGross id="ID_1179" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_LandBuildingsAndImprovementsMember" unitRef="USD" decimals="-3"> 731925000 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue id="ID_1180" contextRef="AS_OF_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember" unitRef="USD_Per_Share" decimals="INF"> 4.92 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue id="ID_1181" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_AwardTypeAxis_cik0000739708_CcohRestrictedStockMember" unitRef="USD_Per_Share" decimals="INF"> 7.76 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue>
<us-gaap:GoodwillImpairmentLoss id="ID_1182" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorAdvertisingMember" unitRef="USD" decimals="-5"> 10700000 </us-gaap:GoodwillImpairmentLoss>
<us-gaap:IndefiniteLivedIntangibleAssetsExcludingGoodwill id="ID_1183" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 2411071000 </us-gaap:IndefiniteLivedIntangibleAssetsExcludingGoodwill>
<us-gaap:DirectOperatingCosts id="ID_1184" contextRef="FROM_Oct01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 648666000 </us-gaap:DirectOperatingCosts>
<us-gaap:Revenues id="ID_1185" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 1655738000 </us-gaap:Revenues>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice id="ID_1186" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember" unitRef="USD_Per_Share" decimals="INF"> 8.64 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
<us-gaap:SellingGeneralAndAdministrativeExpense id="ID_1187" contextRef="FROM_Oct01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 421116000 </us-gaap:SellingGeneralAndAdministrativeExpense>
<us-gaap:InvestmentsInAndAdvancesToAffiliatesTextBlock id="ID_1188" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:26.25pt;' ><td colspan='2' rowspan='1' style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ARN</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >All</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Others</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:329.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at December 31, 2012</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 353,062 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 17,850 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 370,912 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cash advances (repayments)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,051 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,051 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Acquisitions of investments, net</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,354 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,354 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Equity in loss</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (75,318)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,378)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (77,696)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency translation adjustment</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (37,068)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (37,064)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Distributions received</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (19,926)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,750)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (21,676)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (76)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (76)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at December 31, 2013</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 220,750 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,055 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 238,805 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cash advances (repayments)</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,452 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,452 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Acquisitions of investments, net</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,811 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,811 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Equity in earnings (loss)</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (12,678)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,262 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,416)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency transaction adjustment</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,449 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 77 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,526 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Distributions received</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (228)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,000)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,228)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Proceeds on sale</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (220,783)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (15,820)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (236,603)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:321.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:321.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,490 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (344)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,146 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at December 31, 2014</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,493 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,493 </font></td></tr></table></div>
</us-gaap:InvestmentsInAndAdvancesToAffiliatesTextBlock>
<us-gaap:GainLossOnSaleOfPropertyPlantEquipment id="ID_1189" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 44512000 </us-gaap:GainLossOnSaleOfPropertyPlantEquipment>
<us-gaap:Assets id="ID_1190" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_IntersegmentEliminationMember" unitRef="USD" decimals="-3"> 0 </us-gaap:Assets>
<us-gaap:ScheduleOfOtherAssetsNoncurrentTextBlock id="ID_1191" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:130.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:justify;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Investments in, and advances to, nonconsolidated affiliates</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,493 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 238,805 </font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other investments</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,247 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,725 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Notes receivable</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 242 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 302 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Prepaid expenses</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,082 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 24,231 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred loan costs</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 130,267 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 143,763 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deposits</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 27,822 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 26,200 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Prepaid rent</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 56,430 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 62,864 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-qualified plan assets</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,568 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,844 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other </font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,914 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15,722 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total other assets </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 289,065 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 533,456 </font></td></tr></table></div>
</us-gaap:ScheduleOfOtherAssetsNoncurrentTextBlock>
<us-gaap:OtherGeneralAndAdministrativeExpense id="ID_1192" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherGeneralAndAdministrativeExpense>
<us-gaap:RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments id="ID_1193" contextRef="FROM_Jul01_2013_TO_Sep30_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 31000 </us-gaap:RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments>
<us-gaap:EquityMethodInvestments id="ID_1194" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 9493000 </us-gaap:EquityMethodInvestments>
<cik0000739708:ScheduleOfUnrecognizedTaxBenefitsTableTextBlock id="ID_1195" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:372pt;text-align:left;border-color:Black;min-width:372pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:160.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:160.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:372pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:372pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrecognized Tax Benefits</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:372pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:372pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at beginning of period</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 129,375 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 138,437 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Increases for tax position taken in the current year</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 13,848 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,004 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Increases for tax positions taken in previous years</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,003 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 13,163 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Decreases for tax position taken in previous years</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,764)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (21,928)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Decreases due to settlements with tax authorities</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,181)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,113)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Decreases due to lapse of statute of limitations</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (24,367)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (11,188)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:372pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:372pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at end of period</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 106,914 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 129,375 </font></td></tr></table></div>
</cik0000739708:ScheduleOfUnrecognizedTaxBenefitsTableTextBlock>
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<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >New Accounting Pronouncements</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the first quarter of 2014, the Company adopted the Financial Accounting Standards Board’s (“FASB”) ASU No. 2013-04, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Obligation Is Fixed at the Reporting Date</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This update provides guidance for the recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope o</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >f this guidance is fixed at the reporting date. The amendments </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >wer</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >e effective for fiscal years (and interim periods within) beginning after December 15, 2013 and </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >we</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >re to be applied retrospectively to all prior periods presented for such obligations that exis</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >t</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ed</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > at the beginning of an entity’s fiscal year of adoption. The adoption of this guidance did not have a material effect on the Company’s consolidated financial statements. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the first quarter of 2014, the Company adopted the FASB’s ASU No. 2013-05,</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Parent’s Accounting for the Cumulative Translation Adjustment upon </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Derecognition</font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' > of Certain Subsidiaries or Groups of Assets within a Foreign Entity of an Investment in a Foreign Entity</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. The amendments </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >we</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >re effective prospectively for the fiscal years (and</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > interim periods within) beginning after December 15, 2013 and provide clarification guidance for the release of the cumulative translation adjustment under current U.S. GAAP. The adoption of this guidance did not have a material effect on the Company’s co</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >nsolidated financial statements</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the first quarter of 2014, the Company adopted the FASB’s ASU No. 2013-11, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >This update requires unrecognized tax benefits to be offset against a deferred tax asset for a net operating loss carryforward, similar tax loss or tax credit carryforward in certain situations. The amendments </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >we</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >re effective prospectively for the fiscal ye</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ars (and interim periods within) beginning after December 15, 2013. The adoption of this guidance did not have a material effect on the Company’s consolidated financial statements.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the second quarter of 2014, the FASB issued ASU No. 2014-09, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Reven</font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >ue from Contracts with Customers</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This new standard provides guidance for the recognition, measurement and disclosure of revenue resulting from contracts with customers and will supersede virtually all of the current revenue recognition guidance under U.S</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. GAAP. The standard is effective for the first interim period within annual reporting periods beginning after December 15, 2016. The Company is currently evaluating the impact of the provisions of this new standard on its financial position and results </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >of operations.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the third quarter of 2014, the FASB issued ASU No. 2014-12, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This new standard clar</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ifies that a performance target in a share-based compensation award that could be achieved after an employee completes the requisite service period should be treated as a performance condition that affects the vesting of the award. The standard is effectiv</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >e for annual periods and interim periods within those annual periods, beginning after December 15, 2015. The Company is currently evaluating the impact of the provisions of this new standard on its financial position and results of operations. </font></p></div>
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<div><p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Nature of Business</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >iHeartCommunications</font><font style='font-family:Times New Roman;font-size:10pt;' >, Inc. is a Texas corporation (the “Company”) with all of its shares of common stock held by iHeartMedia Capital I, LLC, an indirect, wholly owned subsidiary of iHeartMedia, Inc. (“Parent”). Parent was formed in May 2007 by private equity funds sponsored by Bain Capital Partners, LLC and Thomas H. Lee Partners, L.P. (together, the “Sponsors”) for the purpose of acquiring the business of the Company. The acquisition was completed on July 30, 2008 pursuant to the Agreement and Plan of Merger, dated November 16, 2006, as amended on April 18, 2007, May 17, 2007 and May 13, 2008 (the “Merger Agreement”). Upon the consummation of the merger, iHeartMedia, Inc. became a public company and the Company was no longer a public company.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company’s reportable operating segments are </font><font style='font-family:Times New Roman;font-size:10pt;' >iHeartMedia</font><font style='font-family:Times New Roman;font-size:10pt;' > (“</font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' >”), </font><font style='font-family:Times New Roman;font-size:10pt;' >Americas</font><font style='font-family:Times New Roman;font-size:10pt;' > outdoor advertising (“Americas outdoor”), and International outdoor advertising (“International outdoor”). The </font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' > segmen</font><font style='font-family:Times New Roman;font-size:10pt;' >t provides media and entertainment services via broadcast and digital delivery. The Americas outdoor and International outdoor segments provide outdoor advertising services in their respective geographic regions using various digital and traditional displ</font><font style='font-family:Times New Roman;font-size:10pt;' >ay types. Included in the “Other” </font><font style='font-family:Times New Roman;font-size:10pt;' >category </font><font style='font-family:Times New Roman;font-size:10pt;' >are the Company’s media representation business, Katz Media Group, as well as other general support services and initiatives, which are ancillary to its other businesses</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div>
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<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Goodwill</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >At least annually, the Company performs its impairment test for each reporting unit’s goodwill. </font><font style='font-family:Times New Roman;font-size:10pt;' >T</font><font style='font-family:Times New Roman;font-size:10pt;' >he Company use</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > a discounted cash flow model to de</font><font style='font-family:Times New Roman;font-size:10pt;' >termine if the carrying value of the reporting unit, including goodwill, is less than the fair value of the reporting unit. The Company identified its reporting units in accordance with ASC 350-20-55. The U.S. radio markets are aggregated into a single rep</font><font style='font-family:Times New Roman;font-size:10pt;' >orting unit and the Company’s U.S. outdoor advertising markets are aggregated into a single reporting unit for purposes of the goodwill impairment test. The Company also determined that within its Americas outdoor segment, Canada constitutes a separate re</font><font style='font-family:Times New Roman;font-size:10pt;' >porting unit and each country in its International outdoor segment constitutes a separate reporting unit. The Company </font><font style='font-family:Times New Roman;font-size:10pt;' >had no impairment of goodwill in </font><font style='font-family:Times New Roman;font-size:10pt;' >201</font><font style='font-family:Times New Roman;font-size:10pt;' >4</font><font style='font-family:Times New Roman;font-size:10pt;' >. The Company recognized a non-cash impairment charge to goodwill of $</font><font style='font-family:Times New Roman;font-size:10pt;' >10.7</font><font style='font-family:Times New Roman;font-size:10pt;' > million based on declinin</font><font style='font-family:Times New Roman;font-size:10pt;' >g future cash flows expected in one country in the International outdoor segment for 2013. The Company had no impairment of goodwill for 2012.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
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<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest id="ID_1387" contextRef="FROM_Apr01_2013_TO_Jun30_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 31484000 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1 id="ID_1388" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember"> P07Y10M </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1>
<us-gaap:PaymentsToAcquireOtherProductiveAssets id="ID_1389" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 21532000 </us-gaap:PaymentsToAcquireOtherProductiveAssets>
<us-gaap:DeferredTaxAssetsEquityMethodInvestments id="ID_1390" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 1824000 </us-gaap:DeferredTaxAssetsEquityMethodInvestments>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod id="ID_1391" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentCompanyMember" unitRef="shares" decimals="-3"> 140000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod>
<us-gaap:LongTermDebt id="ID_1392" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_SubisidarySeniorNotesMember" unitRef="USD" decimals="-3"> 4925000000 </us-gaap:LongTermDebt>
<us-gaap:SecuredDebt id="ID_1393" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_TermLoanEMember_us-gaap_LongtermDebtTypeAxis_cik0000739708_TermLoanFacilitiesMember" unitRef="USD" decimals="-3"> 1300000000 </us-gaap:SecuredDebt>
<us-gaap:SecuredDebt id="ID_1394" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_NotesDue2021Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_PriorityGuaranteeNotesMember" unitRef="USD" decimals="-3"> 1750000000 </us-gaap:SecuredDebt>
<us-gaap:SecuredDebt id="ID_1395" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_LongtermDebtTypeAxis_cik0000739708_PriorityGuaranteeNotesMember" unitRef="USD" decimals="-3"> 4324815000 </us-gaap:SecuredDebt>
<us-gaap:DebtInstrumentInterestRateStatedPercentage id="ID_1396" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_SeniorNotesDue2016Member_us-gaap_LongtermDebtTypeAxis_cik0000739708_IheartcommunicationsLegacyNotesMember" unitRef="pure" decimals="5"> 0.055 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree id="ID_1397" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 8208000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree>
<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 id="ID_1398" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_TermLoanEMember_us-gaap_LineOfCreditFacilityAxis_cik0000739708_SeniorSecuredCreditFacilityMember_us-gaap_VariableRateAxis_us-gaap_EurodollarMember" unitRef="pure" decimals="4"> 0.075 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
<us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity id="ID_1399" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_LineOfCreditFacilityAxis_us-gaap_RevolvingCreditFacilityMember" unitRef="USD" decimals="-5"> 0 </us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
<us-gaap:DebtInstrumentRestrictiveCovenants id="ID_1400" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_LineOfCreditFacilityAxis_cik0000739708_ReceivablesBasedFacility1Member">
Maturity Borrowings under the receivables based credit facility will mature, and lending commitments thereunder will terminate, on the fifth anniversary of the effectiveness of the receivables based credit facility (December 24, 2017), provided that, (a) the maturity date will be October 31, 2015 if on October 30, 2015, greater than $500.0 million in aggregate principal amount is owing under certain of ##D<iHearts/iHearts/theCompanys> term loan credit facilities, (b) the maturity date will be May 3, 2016 if on May 2, 2016 greater than $500.0 million aggregate principal amount of ##D<iHearts/iHearts/theCompanys> 10.75% senior cash pay notes due 2016 and 11.00%/11.75% senior toggle notes due 2016 are outstanding and (c) in the case of any debt under clauses (a) and (b) that is amended or refinanced in any manner that extends the maturity date of such debt to a date that is on or before the date that is five years after the effectiveness of the receivables based credit facility, the maturity date will be one day prior to the maturity date of such debt after giving effect to such amendment or refinancing if greater than $500,000,000 in aggregate principal amount of such debt is outstanding
</us-gaap:DebtInstrumentRestrictiveCovenants>
<us-gaap:EquityMethodInvestmentOtherThanTemporaryImpairment id="ID_1401" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_cik0000739708_AllOthersMember" unitRef="USD" decimals="-3"> 76000 </us-gaap:EquityMethodInvestmentOtherThanTemporaryImpairment>
<us-gaap:Revenues id="ID_1402" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementGeographicalAxis_country_US" unitRef="USD" decimals="-8"> 4500000000 </us-gaap:Revenues>
<us-gaap:OtherComprehensiveIncomeLossNetOfTax id="ID_1403" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="USD" decimals="-3"> -2476000 </us-gaap:OtherComprehensiveIncomeLossNetOfTax>
<us-gaap:NetCashProvidedByUsedInFinancingActivities id="ID_1404" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> -95349000 </us-gaap:NetCashProvidedByUsedInFinancingActivities>
<us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock id="ID_1405" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred tax liabilities: </font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Intangibles and fixed assets</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,335,584 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,402,168 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Long-term debt</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 119,887 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 183,615 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Investments in nonconsolidated affiliates</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,121 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other investments</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,575 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,759 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,857 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,655 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total deferred tax liabilities</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,471,024 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,599,197 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred tax assets: </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Accrued expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 111,884 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 106,651 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Investments in nonconsolidated affiliates</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,824 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net operating loss carryforwards</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,445,340 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,287,239 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Bad debt reserves</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,346 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,726 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 34,017 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 35,527 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total gross deferred tax assets</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,600,587 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,440,967 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Less: Valuation allowance</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 655,658 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 327,623 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total deferred tax assets</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 944,929 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,113,344 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net deferred tax liabilities</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,526,095 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,485,853 </font></td></tr></table></div>
</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
<us-gaap:Revenues id="ID_1406" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 1279257000 </us-gaap:Revenues>
<us-gaap:OtherLiabilitiesNoncurrent id="ID_1407" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 462020000 </us-gaap:OtherLiabilitiesNoncurrent>
<us-gaap:EquityMethodInvestments id="ID_1408" contextRef="AS_OF_Dec31_2012_Entity_0000739708_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_cik0000739708_AllOthersMember" unitRef="USD" decimals="-3"> 17850000 </us-gaap:EquityMethodInvestments>
<us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="ID_1409" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentMember" unitRef="USD" decimals="-3"> 16439000 </us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
<us-gaap:OperatingIncomeLoss id="ID_1410" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_AllOtherSegmentsMember" unitRef="USD" decimals="-3"> 23061000 </us-gaap:OperatingIncomeLoss>
<us-gaap:FiniteLivedIntangibleAssetsGross id="ID_1411" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_OtherIntangibleAssetsMember" unitRef="USD" decimals="-3"> 388160000 </us-gaap:FiniteLivedIntangibleAssetsGross>
<us-gaap:DeferredTaxAssetsValuationAllowance id="ID_1412" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 327623000 </us-gaap:DeferredTaxAssetsValuationAllowance>
<us-gaap:IncomeTaxReconciliationForeignIncomeTaxRateDifferential id="ID_1413" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -11074000 </us-gaap:IncomeTaxReconciliationForeignIncomeTaxRateDifferential>
<us-gaap:GoodwillTranslationAdjustments id="ID_1414" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorMember" unitRef="USD" decimals="-3"> -33022000 </us-gaap:GoodwillTranslationAdjustments>
<us-gaap:DepreciationDepletionAndAmortization id="ID_1415" contextRef="FROM_Oct01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 191582000 </us-gaap:DepreciationDepletionAndAmortization>
<us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest id="ID_1416" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -923433000 </us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest>
<us-gaap:Dividends id="ID_1417" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 91887000 </us-gaap:Dividends>
<us-gaap:StockIssuedDuringPeriodValueOther id="ID_1418" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="USD" decimals="-3"> -9228000 </us-gaap:StockIssuedDuringPeriodValueOther>
<us-gaap:ProfitLoss id="ID_1419" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" unitRef="USD" decimals="-3"> -606883000 </us-gaap:ProfitLoss>
<us-gaap:Revenues id="ID_1420" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorAdvertisingMember" unitRef="USD" decimals="-3"> 1290452000 </us-gaap:Revenues>
<us-gaap:PaymentsForRepurchaseOfRedeemableNoncontrollingInterest id="ID_1421" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 48750000 </us-gaap:PaymentsForRepurchaseOfRedeemableNoncontrollingInterest>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree id="ID_1422" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-5"> 197061000000 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue id="ID_1423" contextRef="AS_OF_Dec31_2013_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember" unitRef="USD_Per_Share" decimals="INF"> 5.21 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber id="ID_1424" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_AwardTypeAxis_cik0000739708_CcohRestrictedStockMember" unitRef="shares" decimals="-3"> 2458000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
<us-gaap:OtherOperatingIncomeExpenseNet id="ID_1425" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_IntersegmentEliminationMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherOperatingIncomeExpenseNet>
<cik0000739708:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccruedCurrent id="ID_1426" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-5"> 2300000 </cik0000739708:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccruedCurrent>
<us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax id="ID_1427" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentMember" unitRef="USD" decimals="-3"> -101980000 </us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
<us-gaap:AssetImpairmentCharges id="ID_1428" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_CorporateAndOtherMember" unitRef="USD" decimals="-3"> 37651000 </us-gaap:AssetImpairmentCharges>
<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest id="ID_1429" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember" unitRef="USD" decimals="-3"> -196073000 </us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
<us-gaap:GoodwillTranslationAdjustments id="ID_1430" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_AmericasOutdoorMember" unitRef="USD" decimals="-3"> 0 </us-gaap:GoodwillTranslationAdjustments>
<us-gaap:GoodwillTranslationAdjustments id="ID_1431" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_OtherGoodwillMember" unitRef="USD" decimals="-3"> 0 </us-gaap:GoodwillTranslationAdjustments>
<us-gaap:IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance id="ID_1432" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> -50697000 </us-gaap:IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance>
<us-gaap:StockholdersEquityOther id="ID_1433" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -12034000 </us-gaap:StockholdersEquityOther>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod id="ID_1434" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember" unitRef="shares" decimals="-3"> 628000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
<us-gaap:IncomeTaxExpenseBenefit id="ID_1435" contextRef="FROM_Jul01_2014_TO_Sep30_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 24376000 </us-gaap:IncomeTaxExpenseBenefit>
<us-gaap:InterestExpense id="ID_1436" contextRef="FROM_Jul01_2014_TO_Sep30_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 432616000 </us-gaap:InterestExpense>
<us-gaap:DeferredFinanceCostsCurrentNet id="ID_1437" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 32602000 </us-gaap:DeferredFinanceCostsCurrentNet>
<us-gaap:ScheduleOfOtherAssetsAndOtherLiabilitiesTableTextBlock id="ID_1438" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:130.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrecognized tax benefits</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 110,410 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 131,015 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Asset retirement obligation</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 53,936 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 59,125 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-qualified plan liabilities</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,568 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,844 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred income</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 23,734 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,247 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred rent</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 125,530 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 120,092 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Employee related liabilities</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 39,963 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 31,617 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 89,722 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 92,080 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total other long-term liabilities </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 454,863 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 462,020 </font></td></tr></table></div>
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<us-gaap:OtherCommitmentDueInFourthYear id="ID_1489" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_us-gaap_CapitalAdditionsMember" unitRef="USD" decimals="-3"> 922000 </us-gaap:OtherCommitmentDueInFourthYear>
<us-gaap:OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax id="ID_1490" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeAxis_us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember" unitRef="USD" decimals="-5"> 82300000 </us-gaap:OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1 id="ID_1491" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentCompanyMember"> P04Y </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1>
<us-gaap:LossContingencyRangeOfPossibleLossMaximum id="ID_1492" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_LossContingenciesByNatureOfContingencyAxis_cik0000739708_PerformanceRequirementsMember" unitRef="USD" decimals="-6"> 30000000 </us-gaap:LossContingencyRangeOfPossibleLossMaximum>
<us-gaap:OtherCommitmentDueInNextTwelveMonths id="ID_1493" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_cik0000739708_NonCancellableOperatingLeasesMember" unitRef="USD" decimals="-3"> 435118000 </us-gaap:OtherCommitmentDueInNextTwelveMonths>
<us-gaap:LineOfCreditFacilityCommitmentFeePercentage id="ID_1494" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_LineOfCreditFacilityAxis_cik0000739708_ReceivablesBasedFacility1Member_us-gaap_RangeAxis_us-gaap_MaximumMember" unitRef="pure" decimals="6"> 0.00375 </us-gaap:LineOfCreditFacilityCommitmentFeePercentage>
<us-gaap:DebtInstrumentInterestRateStatedPercentage id="ID_1495" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_SeniorNotes2021Member" unitRef="pure" decimals="2"> 0.14 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentInterestRateStatedPercentage id="ID_1496" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_SeniorNotesDue2018Member" unitRef="pure" decimals="2"> 0.1 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign id="ID_1497" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-5"> 97200000 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign>
<us-gaap:Goodwill id="ID_1498" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_BusinessAcquisitionAxis_cik0000739708_WorAndWfnxMember" unitRef="USD" decimals="-5"> 24700000 </us-gaap:Goodwill>
<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities id="ID_1499" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_BusinessAcquisitionAxis_cik0000739708_WorAndWfnxMember" unitRef="USD" decimals="-5"> 700000 </us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities>
<cik0000739708:MaximumDeferralBonusAfterTax id="ID_1500" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="pure" decimals="2"> 0.8 </cik0000739708:MaximumDeferralBonusAfterTax>
<us-gaap:OtherCommitmentDueInNextTwelveMonths id="ID_1501" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_us-gaap_CapitalAdditionsMember" unitRef="USD" decimals="-3"> 55968000 </us-gaap:OtherCommitmentDueInNextTwelveMonths>
<us-gaap:GuaranteeObligationsCurrentCarryingValue id="ID_1502" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_GuaranteeObligationsByNatureAxis_cik0000739708_BankGuranteesCollaterizedMember" unitRef="USD" decimals="-5"> 15200000 </us-gaap:GuaranteeObligationsCurrentCarryingValue>
<us-gaap:LineOfCreditFacilityCommitmentFeePercentage id="ID_1503" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_LineOfCreditFacilityAxis_cik0000739708_ReceivablesBasedFacility1Member_us-gaap_RangeAxis_us-gaap_MinimumMember" unitRef="pure" decimals="6"> 0.0025 </us-gaap:LineOfCreditFacilityCommitmentFeePercentage>
<us-gaap:MinorityInterestDecreaseFromRedemptions id="ID_1504" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3"> 42881000 </us-gaap:MinorityInterestDecreaseFromRedemptions>
<us-gaap:OtherCommitmentDueInThirdYear id="ID_1505" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_us-gaap_CapitalAdditionsMember" unitRef="USD" decimals="-3"> 67053000 </us-gaap:OtherCommitmentDueInThirdYear>
<us-gaap:OtherCommitment id="ID_1506" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_us-gaap_CapitalAdditionsMember" unitRef="USD" decimals="-3"> 209487000 </us-gaap:OtherCommitment>
<us-gaap:OtherCommitment id="ID_1507" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_cik0000739708_EmploymentTalentContractsMember" unitRef="USD" decimals="-3"> 198944000 </us-gaap:OtherCommitment>
<us-gaap:TaxCreditCarryforwardValuationAllowance id="ID_1508" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_TaxCreditCarryforwardAxis_cik0000739708_OtherForeignDeferredTaxAssetsMember" unitRef="USD" decimals="-5"> 22100000 </us-gaap:TaxCreditCarryforwardValuationAllowance>
<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill id="ID_1509" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_BusinessAcquisitionAxis_cik0000739708_WorAndWfnxMember" unitRef="USD" decimals="-5"> 15200000 </us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill>
<cik0000739708:MaximumPercentageOfSalaryDeferral id="ID_1510" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="pure" decimals="2"> 0.5 </cik0000739708:MaximumPercentageOfSalaryDeferral>
<us-gaap:OtherCommitmentDueAfterFifthYear id="ID_1511" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_cik0000739708_NonCancelableContractsMember" unitRef="USD" decimals="-3"> 336120000 </us-gaap:OtherCommitmentDueAfterFifthYear>
<dei:EntityVoluntaryFilers id="ID_1512" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708"> No </dei:EntityVoluntaryFilers>
<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles id="ID_1513" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_BusinessAcquisitionAxis_cik0000739708_AlohaStationTrustLlcMember" unitRef="USD" decimals="-5"> 10200000 </us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles>
<us-gaap:MarketableSecuritiesRealizedGainLoss id="ID_1514" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeAxis_us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember" unitRef="USD" decimals="-5"> 130900000 </us-gaap:MarketableSecuritiesRealizedGainLoss>
<us-gaap:OtherCommitmentDueAfterFifthYear id="ID_1515" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_cik0000739708_NonCancellableOperatingLeasesMember" unitRef="USD" decimals="-3"> 1325171000 </us-gaap:OtherCommitmentDueAfterFifthYear>
<us-gaap:GuaranteeObligationsCurrentCarryingValue id="ID_1516" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_GuaranteeObligationsByNatureAxis_us-gaap_FinancialStandbyLetterOfCreditMember" unitRef="USD" decimals="-5"> 113900000 </us-gaap:GuaranteeObligationsCurrentCarryingValue>
<cik0000739708:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCashReceivedForOptionsExercised id="ID_1517" contextRef="AS_OF_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember" unitRef="USD" decimals="-5"> 2400000 </cik0000739708:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCashReceivedForOptionsExercised>
<us-gaap:DebtInstrumentInterestRateStatedPercentage id="ID_1518" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_DebtInstrumentAxis_cik0000739708_SeniorCashPayNotesMember" unitRef="pure" decimals="4"> 0.1075 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:LongTermDebt id="ID_1519" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_LongtermDebtTypeAxis_cik0000739708_IheartcommunicationsLegacyNotesMember" unitRef="USD" decimals="-3"> 667900000 </us-gaap:LongTermDebt>
<us-gaap:IncomeTaxExpenseBenefit id="ID_1520" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeAxis_us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember" unitRef="USD" decimals="-5"> 48600000 </us-gaap:IncomeTaxExpenseBenefit>
<us-gaap:MinorityInterestDecreaseFromRedemptions id="ID_1521" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 48750000 </us-gaap:MinorityInterestDecreaseFromRedemptions>
<us-gaap:MinorityInterestDecreaseFromRedemptions id="ID_1522" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_NoncontrollingInterestMember" unitRef="USD" decimals="-3"> 1944000 </us-gaap:MinorityInterestDecreaseFromRedemptions>
<us-gaap:OtherCommitmentDueInSecondYear id="ID_1523" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_cik0000739708_EmploymentTalentContractsMember" unitRef="USD" decimals="-3"> 75760000 </us-gaap:OtherCommitmentDueInSecondYear>
<us-gaap:OtherCommitmentDueInThirdYear id="ID_1524" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_cik0000739708_NonCancellableOperatingLeasesMember" unitRef="USD" decimals="-3"> 302876000 </us-gaap:OtherCommitmentDueInThirdYear>
<us-gaap:OtherCommitment id="ID_1525" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_cik0000739708_NonCancellableOperatingLeasesMember" unitRef="USD" decimals="-3"> 2923445000 </us-gaap:OtherCommitment>
<us-gaap:OtherCommitment id="ID_1526" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_cik0000739708_NonCancelableContractsMember" unitRef="USD" decimals="-3"> 2040323000 </us-gaap:OtherCommitment>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 id="ID_1527" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentCompanyMember"> P04Y04M </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
<us-gaap:OtherCommitmentDueInSecondYear id="ID_1528" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_us-gaap_CapitalAdditionsMember" unitRef="USD" decimals="-3"> 70385000 </us-gaap:OtherCommitmentDueInSecondYear>
<dei:EntityWellKnownSeasonedIssuer id="ID_1529" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708"> No </dei:EntityWellKnownSeasonedIssuer>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1 id="ID_1530" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentCompanyMember"> P4Y08M </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1>
<us-gaap:OtherCommitmentDueInSecondYear id="ID_1531" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_cik0000739708_NonCancellableOperatingLeasesMember" unitRef="USD" decimals="-3"> 347487000 </us-gaap:OtherCommitmentDueInSecondYear>
<us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount id="ID_1532" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-5"> 339800000 </us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount>
<us-gaap:OtherCommitmentDueInFifthYear id="ID_1533" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_cik0000739708_NonCancellableOperatingLeasesMember" unitRef="USD" decimals="-3"> 243096000 </us-gaap:OtherCommitmentDueInFifthYear>
<us-gaap:OtherCommitmentDueInFifthYear id="ID_1534" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_cik0000739708_NonCancelableContractsMember" unitRef="USD" decimals="-3"> 171562000 </us-gaap:OtherCommitmentDueInFifthYear>
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<dei:DocumentType id="ID_1536" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708"> 10-K </dei:DocumentType>
<us-gaap:OtherCommitmentDueInFifthYear id="ID_1537" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_us-gaap_CapitalAdditionsMember" unitRef="USD" decimals="-3"> 757000 </us-gaap:OtherCommitmentDueInFifthYear>
<us-gaap:OtherCommitmentDueInFifthYear id="ID_1538" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_cik0000739708_EmploymentTalentContractsMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherCommitmentDueInFifthYear>
<us-gaap:MinorityInterestDecreaseFromRedemptions id="ID_1539" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" unitRef="USD" decimals="-3"> 0 </us-gaap:MinorityInterestDecreaseFromRedemptions>
<us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized id="ID_1540" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-5"> 22400000 </us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
<cik0000739708:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRightsMarket id="ID_1541" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-5"> 24700000 </cik0000739708:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRightsMarket>
<dei:EntityFilerCategory id="ID_1542" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708"> Non-accelerated Filer </dei:EntityFilerCategory>
<us-gaap:StockRepurchaseProgramAuthorizedAmount1 id="ID_1543" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_StatementClassOfStockAxis_us-gaap_CommonClassAMember" unitRef="USD" decimals="-5"> 34200000 </us-gaap:StockRepurchaseProgramAuthorizedAmount1>
<us-gaap:OtherCommitmentDueAfterFifthYear id="ID_1544" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_OtherCommitmentsAxis_cik0000739708_EmploymentTalentContractsMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherCommitmentDueAfterFifthYear>
<cik0000739708:CurrentIncomeTaxAdjustments id="ID_1545" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-5"> 67300000 </cik0000739708:CurrentIncomeTaxAdjustments>
<dei:DocumentFiscalPeriodFocus id="ID_1546" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708"> FY </dei:DocumentFiscalPeriodFocus>
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<us-gaap:GoodwillImpairedAccumulatedImpairmentLoss id="ID_1548" contextRef="AS_OF_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_InternationalOutdoorMember" unitRef="USD" decimals="-8"> 315900000000 </us-gaap:GoodwillImpairedAccumulatedImpairmentLoss>
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<us-gaap:OtherOperatingIncomeExpenseNet id="ID_1555" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_AllOtherSegmentsMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherOperatingIncomeExpenseNet>
<us-gaap:DirectOperatingCosts id="ID_1556" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_CorporateAndOtherMember" unitRef="USD" decimals="-3"> 0 </us-gaap:DirectOperatingCosts>
<us-gaap:GainsLossesOnExtinguishmentOfDebt id="ID_1557" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -43347000 </us-gaap:GainsLossesOnExtinguishmentOfDebt>
<us-gaap:AccruedLiabilitiesCurrent id="ID_1558" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 799475000 </us-gaap:AccruedLiabilitiesCurrent>
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<us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate id="ID_1562" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="pure" decimals="2"> 0.35 </us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
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<us-gaap:AssetImpairmentCharges id="ID_1565" contextRef="FROM_Apr01_2014_TO_Jun30_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 4902000 </us-gaap:AssetImpairmentCharges>
<us-gaap:Goodwill id="ID_1566" contextRef="AS_OF_Dec31_2012_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioMember" unitRef="USD" decimals="-3"> 3236688000 </us-gaap:Goodwill>
<us-gaap:AssetImpairmentCharges id="ID_1567" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 24176000 </us-gaap:AssetImpairmentCharges>
<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation id="ID_1568" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 28540000 </us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
<us-gaap:OperatingLeasesRentExpenseNet id="ID_1569" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-7"> 1140000000 </us-gaap:OperatingLeasesRentExpenseNet>
<us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax id="ID_1570" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_dei_LegalEntityAxis_us-gaap_ParentMember" unitRef="USD" decimals="-3"> 285000 </us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest id="ID_1571" contextRef="FROM_Jan01_2014_TO_Mar31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -364002000 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest>
<us-gaap:ProceedsFromSaleOfProductiveAssets id="ID_1572" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 10273000 </us-gaap:ProceedsFromSaleOfProductiveAssets>
<us-gaap:PropertyPlantAndEquipmentGross id="ID_1573" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_BuildingMember" unitRef="USD" decimals="-3"> 2999582000 </us-gaap:PropertyPlantAndEquipmentGross>
<cik0000739708:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCashReceivedForOptionsExercised id="ID_1574" contextRef="AS_OF_Dec31_2013_Entity_0000739708_dei_LegalEntityAxis_us-gaap_SubsidiariesMember" unitRef="USD" decimals="-5"> 4200000 </cik0000739708:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCashReceivedForOptionsExercised>
<us-gaap:MachineryAndEquipmentGross id="ID_1575" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 1765510000 </us-gaap:MachineryAndEquipmentGross>
<us-gaap:PaymentsForProceedsFromOtherInvestingActivities id="ID_1576" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 13709000 </us-gaap:PaymentsForProceedsFromOtherInvestingActivities>
<us-gaap:DirectOperatingCosts id="ID_1577" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_CorporateAndOtherMember" unitRef="USD" decimals="-3"> 0 </us-gaap:DirectOperatingCosts>
<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation id="ID_1578" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3"> 17951000 </us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
<us-gaap:DepreciationDepletionAndAmortization id="ID_1579" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 730828000 </us-gaap:DepreciationDepletionAndAmortization>
<us-gaap:IncomeTaxReconciliationForeignIncomeTaxRateDifferential id="ID_1580" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> -8782000 </us-gaap:IncomeTaxReconciliationForeignIncomeTaxRateDifferential>
<us-gaap:DefinedBenefitPensionPlanCurrentAndNoncurrentLiabilities id="ID_1581" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 11844000 </us-gaap:DefinedBenefitPensionPlanCurrentAndNoncurrentLiabilities>
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment id="ID_1582" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_AllOtherSegmentsMember" unitRef="USD" decimals="-3"> 5744000 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
<us-gaap:InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures id="ID_1583" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 238805000 </us-gaap:InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures>
<us-gaap:SellingGeneralAndAdministrativeExpense id="ID_1584" contextRef="FROM_Jan01_2013_TO_Mar31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 403363000 </us-gaap:SellingGeneralAndAdministrativeExpense>
<us-gaap:NetCashProvidedByUsedInInvestingActivities id="ID_1585" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -88682000 </us-gaap:NetCashProvidedByUsedInInvestingActivities>
<us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization id="ID_1586" contextRef="AS_OF_Dec31_2013_Entity_0000739708_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_cik0000739708_TalentContractsMember" unitRef="USD" decimals="-3"> 195403000 </us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization>
<us-gaap:GoodwillWrittenOffRelatedToSaleOfBusinessUnit id="ID_1587" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioMember" unitRef="USD" decimals="-3"> 0 </us-gaap:GoodwillWrittenOffRelatedToSaleOfBusinessUnit>
<us-gaap:AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxAvailableforsaleDebtSecurities id="ID_1588" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -1101000 </us-gaap:AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxAvailableforsaleDebtSecurities>
<us-gaap:GainsLossesOnExtinguishmentOfDebt id="ID_1589" contextRef="FROM_Jan01_2014_TO_Mar31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -3916000 </us-gaap:GainsLossesOnExtinguishmentOfDebt>
<us-gaap:OtherOperatingIncomeExpenseNet id="ID_1590" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioBroadcastingMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherOperatingIncomeExpenseNet>
<us-gaap:OtherGeneralAndAdministrativeExpense id="ID_1591" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_us-gaap_IntersegmentEliminationMember" unitRef="USD" decimals="-3"> 0 </us-gaap:OtherGeneralAndAdministrativeExpense>
<us-gaap:NetCashProvidedByUsedInOperatingActivities id="ID_1592" contextRef="FROM_Jan01_2012_TO_Dec31_2012_Entity_0000739708" unitRef="USD" decimals="-3"> 485132000 </us-gaap:NetCashProvidedByUsedInOperatingActivities>
<cik0000739708:ScheduleOfValuationAndQualifyingAccountsDisclosureTableTextBlock id="ID_1593" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708">
<div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Charges</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >to Costs, </font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Write-off</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance</font></td></tr><tr style='height:12.75pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Beginning</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expenses</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >of Accounts</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >at End of </font></td></tr><tr style='height:12.75pt;' ><td style='width:138.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Description</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >of period</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >and other</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Receivable</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font></sup></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Period</font></td></tr><tr style='height:12.75pt;' ><td style='width:138.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:138.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td></tr><tr style='height:20.25pt;' ><td style='width:138.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2012</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 63,098 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,715 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 14,082 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,814)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 55,917 </font></td></tr><tr style='height:20.25pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2013</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 55,917 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,242 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 28,492 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 734 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 48,401 </font></td></tr><tr style='height:20.25pt;' ><td style='width:138.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 48,401 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 14,167 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,368 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,502)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 39,698 </font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:146.25pt;text-align:left;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Charges</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:146.25pt;text-align:center;border-color:Black;min-width:146.25pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at </font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >to Costs,</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance </font></td></tr><tr style='height:12.75pt;' ><td style='width:146.25pt;text-align:center;border-color:Black;min-width:146.25pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Beginning</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expenses</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >at end of</font></td></tr><tr style='height:15.75pt;' ><td style='width:146.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Description</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >of Period</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >and other </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font></sup></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reversal </font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(2)</font></sup></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Adjustments</font><sup><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3)</font></sup></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Period</font></td></tr><tr style='height:20.25pt;' ><td style='width:146.25pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2012</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 193,052 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 14,309 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (21,727)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,948)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 183,686 </font></td></tr><tr style='height:20.25pt;' ><td style='width:146.25pt;text-align:left;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2013</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 183,686 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 149,107 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,165)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 327,623 </font></td></tr><tr style='height:20.25pt;' ><td style='width:146.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2014</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 327,623 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 356,583 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (230)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (28,318)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 655,658 </font></td></tr></table></div>
</cik0000739708:ScheduleOfValuationAndQualifyingAccountsDisclosureTableTextBlock>
<us-gaap:AssetImpairmentCharges id="ID_1594" contextRef="FROM_Apr01_2013_TO_Jun30_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 0 </us-gaap:AssetImpairmentCharges>
<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest id="ID_1595" contextRef="AS_OF_Dec31_2014_Entity_0000739708_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" unitRef="USD" decimals="-3"> -11682390000 </us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
<us-gaap:GoodwillAcquiredDuringPeriod id="ID_1596" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_StatementBusinessSegmentsAxis_cik0000739708_RadioMember" unitRef="USD" decimals="-3"> 17900000 </us-gaap:GoodwillAcquiredDuringPeriod>
<us-gaap:DeferredTaxAssetsGross id="ID_1597" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 1600587000 </us-gaap:DeferredTaxAssetsGross>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="ID_1598" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_AwardTypeAxis_us-gaap_RestrictedStockMember" unitRef="USD_Per_Share" decimals="INF"> 7.86 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
<us-gaap:AssetsNoncurrent id="ID_1599" contextRef="AS_OF_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> 289065000 </us-gaap:AssetsNoncurrent>
<us-gaap:DeferredForeignIncomeTaxExpenseBenefit id="ID_1600" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708" unitRef="USD" decimals="-3"> -4308000 </us-gaap:DeferredForeignIncomeTaxExpenseBenefit>
<us-gaap:PropertyPlantAndEquipmentUsefulLife id="ID_1601" contextRef="FROM_Jan01_2014_TO_Dec31_2014_Entity_0000739708_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_OtherCapitalizedPropertyPlantAndEquipmentMember_us-gaap_RangeAxis_us-gaap_MinimumMember"> P5Y </us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent id="ID_1602" contextRef="AS_OF_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-5"> 11800000 </us-gaap:DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent>
<us-gaap:OtherNonoperatingIncomeExpense id="ID_1603" contextRef="FROM_Oct01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -4591000 </us-gaap:OtherNonoperatingIncomeExpense>
<us-gaap:ProfitLoss id="ID_1604" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708_dei_LegalEntityAxis_us-gaap_NoncontrollingInterestMember" unitRef="USD" decimals="-3"> 23366000 </us-gaap:ProfitLoss>
<us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit id="ID_1605" contextRef="FROM_Jan01_2013_TO_Dec31_2013_Entity_0000739708" unitRef="USD" decimals="-3"> -22333000 </us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
<us-gaap:RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments id="ID_1606" contextRef="FROM_Apr01_2013_TO_Jun30_2013_Entity_0000739708" unitRef="USD" decimals="-3"> 130898000 </us-gaap:RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments>
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</xbrli:xbrl>

3 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/27/15  SEC                               UPLOAD9/18/17    1:33K  iHeartCommunications, Inc.
 4/29/15  SEC                               UPLOAD9/18/17    1:153K iHeartCommunications, Inc.
 4/17/15  SEC                               UPLOAD9/18/17    1:157K iHeartCommunications, Inc.
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