iHeartMedia 2012 Annual Report Download - page 23
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additional media and entertainment businesses or outdoor advertising businesses in any market where we already have a significant
position. Further, radio acquisitions by us are subject to FCC approval. Such acquisitions must comply with the Communications Act
and FCC regulatory requirements and policies, including with respect to the number of broadcast facilities in which a person or entity
may have an ownership or attributable interest in a given local market and the level of interest that may be held by a foreign individual
or entity. The FCC's media ownership rules remain subject to ongoing agency and court proceedings. Future changes could restrict
our ability to acquire new radio assets or businesses.