Premiere Networks 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
	Year ended December 31,				Period  from January 1 through July  30, 2008		Period from July 31 through December  31, 2008			Year ended December 31,						Three Months ended March 31,
(dollars in millions)	2006		2007							2009			2010			2010			2011
Computation of earnings:
Income (loss) before income taxes and adjustment for (income) loss from equity investees	$	1,103,364	$	1,245,677	$	491,809	$	(5,743,061	)	$	(4,521,667	)	$	(628,535	)	$	(252,683	)	$	(226,999	)
Distributed income (loss) from equity investees		15,179		6,793		29,935		13,143			20,901			11,084			6,500			5,366
Fixed charges		858,938		870,457		477,597		900,069			1,896,482			1,919,554			483,646			468,094
Total earnings	$	1,977,481	$	2,122,927	$	999,341	$	(4,829,849	)	$	(2,604,284	)	$	1,302,103		$	237,463		$	246,461
Computation of fixed charges:
Interest expense	$	484,063	$	451,870	$	213,210	$	715,768		$	1,500,866		$	1,533,341		$	385,795		$	369,666
Portion of rent expense representative of interest		374,875		418,587		264,387		184,301			395,616			386,213			97,851		��	98,428
Total fixed charges	$	858,938	$	870,457	$	477,597	$	900,069		$	1,896,482		$	1,919,554		$	483,646		$	468,094
Ratio of earnings to fixed charges		2.30		2.44		2.09		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, 2010, 2009 and 2008, and the three months ended March 31, 2011 and 2010, earnings available for fixed charges were inadequate to cover fixed charges by $617.5 million, $4.5 billion, $5.2 billion, $221.6 million and $246.2 million, respectively.