iHeartMedia 2006 Annual Report Download - page 13

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13
In addition to the displays listed above, as of December 31, 2006, we had equity investments in various out-of-
home advertising companies that operate in the following markets:
Street
Equity Furniture Transit Other
Market Company Investment Billboards(a) Displays Displays Displays(b)
Outdoor Advertising Companies
South Africa (c) Clear Channel
Independent 50.0% ● ● ●
Italy Alessi 34.3% ● ● ●
Italy AD Moving SpA 17.5% ● ●
Hong Kong Buspak 50.0% ● ●
Thailand Master & More 32.5% ● ●
Belgium MTB 49.0% ●
Belgium Streep 25.0% ●
Denmark City Reklame 45.0% ●
Other Media Companies
Norway CAPA 50.0%
Holland HOA Events 49.0%
(a) Includes spectaculars and neon displays.
(b) Includes mall displays and other small displays.
(c) Clear Channel Independent is headquartered and has the majority of its operations in South Africa, but also operates
in other African countries such as Angola, Botswana, Lesotho, Malawi, Mauritius, Mozambique, Namibia,
Swaziland, Tanzania, Uganda and Zambia.
Other
The other category includes our television business and our media representation firm, as well as other general
support services and initiatives which are ancillary to our other businesses.
Television
On November 16, 2006 we announced plans to sell all of our television stations. As of December 31, 2006, we
owned, programmed or sold airtime for 51 television stations, including 13 television stations distributed as digital
multicast stations. Our television stations are affiliated with various television networks, including ABC, CBS, NBC,
FOX, CW, CW100+, MyNetworkTV, Telemundo, our internally created Variety TV network and several independent,
non-affiliated stations. Television revenue is generated primarily from the sale of local and national advertising.
Advertising rates depend primarily on the quantitative and qualitative characteristics of the audience we can deliver to
the advertiser. Our sales personnel sell local advertising, while national advertising is primarily sold by national sales
representatives.
The primary sources of programming for our ABC, NBC, CBS, FOX, CW100+ and Telemundo affiliated
television stations are their respective networks, which produce and distribute programming in exchange for each
station’s commitment to air the programming at specified times and for commercial announcement time during the
programming. We provide another source of programming to our stations by selecting and purchasing syndicated
television programs. We compete with other television stations within each market for these broadcast rights. We also
provide local news programming for the majority of our television stations.
Media Representation
We own the Katz Media Group, a full-service media representation firm that sells national spot advertising time
for clients in the radio and television industries throughout the United States. As of December 31, 2006, Katz Media
represented over 3,300 radio stations and 400 television stations.
Katz Media generates revenues primarily through contractual commissions realized from the sale of national
spot advertising airtime. National spot advertising is commercial airtime sold to advertisers on behalf of radio and
television stations. Katz Media represents its media clients pursuant to media representation contracts, which typically
have terms of up to ten years in length.