iHeartMedia 2006 Annual Report Download - page 94

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94
NOTE Q – SUBSEQUENT EVENTS
The Company filed a Definitive Proxy Statement with the SEC on January 29, 2007 related to its proposed merger
with a group of private equity funds sponsored by Bain Capital Partners, LLC and Thomas H. Lee Partners, L.P.
The special meeting to vote on the merger will be March 21, 2007.
On February 1, 2007, the Company redeemed its 3.125% Senior Notes at their maturity for $250.0 million plus
accrued interest with proceeds from its bank credit facility.
Our Board of Directors declared a quarterly cash dividend of 18.75 cents per share on February 21, 2007.
Subsequent to December 31, 2006, the Company had definitive asset purchase agreements for the sale of 45 radio
stations. These stations had a carrying value of approximately $34.8 million at December 31, 2006. The closing of
these sales is subject to antitrust clearances, FCC approval and other customary closing conditions. The Company
also completed the sale of 7 radio stations it had under definitive asset purchase agreements at December 31, 2006.
ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Not Applicable