iHeartMedia 2010 Annual Report Download - page 136

PART III
ITEM 10. Directors, Executive Officers and Corporate Governance
Intentionally omitted in accordance with General Instruction I(2)(c) of Form 10-K.
ITEM 11. Executive Compensation
Intentionally omitted in accordance with General Instruction I(2)(c) of Form 10-K.
ITEM 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Intentionally omitted in accordance with General Instruction I(2)(c) of Form 10-K.
ITEM 13. Certain Relationships and Related Transactions, and Director Independence
Intentionally omitted in accordance with General Instruction I(2)(c) of Form 10-K.
ITEM 14. Principal Accounting Fees and Services
Fees are incurred by CCMH for both the CCMH and Clear Channel audit services and are not allocated between the two companies.
The following fees for services provided by Ernst & Young LLP were incurred by CCMH with respect to the years ended
December 31, 2010 and 2009:
The Audit Committees of CCMH and Clear Channel have jointly considered whether Ernst & Young LLP’s provision of non-audit
services is compatible with maintaining Ernst & Young LLP’s independence.
The Audit Committees jointly pre-approve all audit and permitted non-audit services (including the fees and terms thereof) to be
performed by the independent auditor. The chairperson of the Audit Committees may represent the Audit Committees jointly for the
purposes of pre-approving permissible non-audit services, provided that the decision to pre-approve any service is disclosed to the
Audit Committees no later than their next scheduled meetings.
127
(In thousands) For the Years Ended December 31,
2010 2009
Audit fees (1) $ 5,296 $ 6,627
Audit-related fees (2)
16
—
Tax fees (3) 621 938
All other fees (4)
589 75
Total fees for services $ 6,522 $ 7,640
(1) Audit fees are for professional services rendered for the audit of annual financial statements and reviews of quarterly financial
statements. This category also includes fees for statutory audits required domestically and internationally, comfort letters,
consents, assistance with and review of documents filed with the SEC, attest services, work done by tax professionals in
connection with the audit or quarterly reviews, and accounting consultations and research work necessary to comply with
g
enerall
y
acce
p
ted auditin
g
standards.
(2) Audit-related fees are for due diligence related to mergers and acquisitions, internal control reviews and attest services not
re
q
uired b
y
statute or re
g
ulations.
(3) Tax fees are for professional services rendered for tax compliance, tax advice and tax planning, except those provided in
connection with the audit or quarterly reviews. Of the $621,268 and $937,733 in tax fees for 2010 and 2009, respectively, as
shown in the table above, $302,480 and $348,444 was related to tax com
p
liance services for 2010 and 2009, res
p
ectivel
y
.
(4) All other fees are the fees for products and services other than those in the above three categories. This category includes, among
other things, permitted corporate finance assistance, and certain advisory services such as internal audit assistance and legal
services
p
ermitted b
y
SEC rules durin
g
the a
pp
licable
p
eriod.