iHeartMedia 2009 Annual Report Download - page 150
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145
Pre-merger
Year ended December 31, 2007
(In thousands)
Parent
Company
Subsidiary
Issuer
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries
Eliminations
Consolidate
d
Revenue
$
—
$
—
$3,627,890
$3,307,105
$(13,793)
$6,921,202
Operating expenses:
Direct operating expenses
—
—
993,464
1,739,540
—
2,733,004
Selling, general and administrative
expenses
—
—
1,220,013
555,719
(13,793)
1,761,939
Depreciation and amortization
—
—
166,328
400,299
—
566,627
Corporate expenses
—
1,452
113,972
66,080
—
181,504
Merger expenses
—
6,762
—
—
—
6,762
Other operating income – ne
t
—
—
2,289 11,824
—
14,113
Operating income (loss)
—
(8,214)
1,136,402
557,291
—
1,685,479
Interest (income) expense
—
(159,516)
453,686
157,700
—
451,870
Gain on marketable securities
—
—
6,742
—
—
6,742
Equity in earnings of nonconsolidated
affiliates
—
776,688
266,428
35,176
(1,043,116)
35,176
Other income (expense) – ne
t
—
80
(3,302)
8,548
—
5,326
Income before income taxes and
discontinued operations
—
928,070 952,584 443,315
(1,043,116)
1,280,853
Income tax benefit (expense)
—
10,437
(293,143)
(158,442)
—
(441,148)
Income (loss) before discontinued
operations
—
938,507
659,441
284,873
(1,043,116)
839,705
Income (loss) from discontinued
operations, net
—
—
145,017
816
—
145,833
Consolidated net income (loss)
—
938,507
804,458
285,689
(1,043,116)
985,538
Amount attributable to
noncontrolling interest
—
—
27,770
19,261
—
47,031
Net income (loss) attributable to the
Company
$
—
$ 938,507
$ 776,688
$ 266,428
$ (1,043,116)
$ 938,507