iHeartMedia Management Services S-4 Registration of securities issued in business combination transactions

Exhibit 12                   

CLEAR CHANNEL COMMUNICATIONS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(unaudited)

	Predecessor		Successor
	Period from January 1 through		Period from July 31 through		Year ended December 31,								Nine Months ended September 30,
(dollars in millions)	July 30, 2008		December 31,  2008		2009		2010		2011		2012		2012		2013
Computation of earnings:
Income (loss) before income taxes and adjustment for (income) loss from equity investees	$	491,809	$	(5,743,061)	$	(4,521,667)	$	(628,535)	$	(420,965)	$	(738,026)	$	(405,615)	$	(453,529)
Distributed income (loss) from equity investees		29,935		13,143		20,901		11,084		18,527		20,122		17,171		17,442
Fixed charges		477,597		900,069		1,896,482		1,919,554		1,872,749		1,948,406		1,445,078		1,531,249
Total earnings	$	999,341	$	(4,829,849)	$	(2,604,284)	$	1,302,103	$	1,470,311	$	1,302,502	$	1,056,634	$	1,095,162
Computation of fixed charges:
Interest expense	$	213,210	$	715,768	$	1,500,866	$	1,533,341	$	1,466,246	$	1,549,023	$	1,148,093	$	1,231,437
Portion of rent expense representative of interest (1)		264,387		184,301		395,616		386,213		406,503		399,383		296,985		299,812
Total fixed charges	$	477,597	$	900,069	$	1,896,482	$	1,919,554	$	1,872,749	$	1,948,406	$	1,445,078	$	1,531,249
Ratio of earnings to fixed charges(2)		2.09		N/A		N/A		N/A		N/A		N/A		N/A		N/A

(1)	Imputed interest on operating leases is estimated to be approximately one-third of rent expense.
(2)	For the years ended December 31, 2012, 2011, 2010, 2009 and 2008, and the nine months ended September 30, 2013 and 2012, earnings available for fixed charges were inadequate to cover fixed charges by $717.9 million, $402.4 million, $617.5 million, $4.5 billion, $5.2 billion, $436.1 million and $388.4 million, respectively.