Please see our annual reports on Form 10-K and our quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission for discussion of important factors that could affect our actual results.

Pacing data may be mentioned during this call. For those not familiar with pacing data, it reflects revenues booked at a specific date versus the comparable date in a prior period, and may or may not reflect the actual revenue growth at the end of the period.

The company’s revenue pacing information includes an adjustment to prior periods to include all acquisitions and exclude all the divestitures in both periods presented for comparative purposes.

It also excludes the effects of movements in foreign exchange rates. During today’s call, we will provide certain performance measures that do not conform to generally accepted accounting principles.

We have provided schedules that reconcile these non-GAAP measures with our reported results on GAAP basis as part of our earnings press release, which can be found on the investor sections of our websites.

A webcast of this call and earnings press releases issued today can be found on the investor sections of our websites at www.clearchannel.com, www.clearchanneloutdoor.com, or www.ccmediaholdings.com. A replay of this conference call will be available for a period of 30 days.

And with that, I will now turn the call over to Tom Casey.

Tom Casey

Thank you Brian, and good afternoon everyone. During the second quarter we continued to make solid progress against our strategy to strengthen our business and improve our competitive position.

As I discussed with you last quarter, our strategic investments in our Media and Entertainment and our Outdoor operations are key to keeping driving our business forward.

Building our size, scale, and operating strength, these investments make it possible for us to take full advantage of our opportunity and continue to generate meaningful growth.

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