iHeartMedia 2005 Annual Report Download - page 27

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27
taken against the Company pursuant to this inquiry, and on February 10, 2006 we were informed by the DOJ that this
investigation had been closed.
On September 9, 2003, the Assistant United States Attorney for the Eastern District of Missouri caused a
Subpoena to Testify before Grand Jury to be issued to us. The Subpoena requires us to produce certain information
regarding commercial advertising run by us on behalf of offshore and/or online (Internet) gambling businesses,
including sports bookmaking and casino-style gambling. We are cooperating with such requirements.
On February 7, 2005, the Company received a subpoena from the State of New York Attorney General’s office,
requesting information on policies and practices regarding record promotion on radio stations in the state of New York.
We are cooperating with this subpoena.
We are currently involved in certain legal proceedings and, as required, have accrued our estimate of the
probable costs for the resolution of these claims. 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 strategies. It is
possible, however, that future results of operations for any particular period could be materially affected by changes in
our assumptions or the effectiveness of our strategies related to these proceedings.
ITEM 4. Submission of Matters to a Vote of Security Holders
There were no matters submitted to a vote of security holders in the fourth quarter of fiscal year 2005.