EXHIBIT 99.2 JACOR COMMUNICATIONS COMPANY NOTICE OF GUARANTEED DELIVERY FOR 8 3/4% SENIOR SUBORDINATED NOTES DUE 2007 EXCHANGED FOR NEW 8 3/4% SERIES B SENIOR SUBORDINATED NOTES DUE 2007 Registered holders of outstanding 8 3/4% Senior Subordinated Notes due 2007 (the "Old Notes") who wish to tender their Old Notes in exchange for a like principal amount of new 8 3/4% Series B Senior Subordinated Notes due 2007 (the "Exchange Notes") and whose Old Notes are not immediately available or who cannot deliver their Old Notes and Letter of Transmittal (and any other documents required by the Letter of Transmittal) to The Bank of New York (the "Exchange Agent") prior to the Expiration Date, may use this Notice of Guaranteed Delivery or one substantially equivalent hereto. This Notice of Guaranteed Delivery may be delivered by hand or sent by facsimile transmission (receipt confirmed by telephone and an original delivered by guaranteed overnight courier) or mail to the Exchange Agent. See "The Exchange Offer - --Procedures for Tendering Old Notes" in the Prospectus. THE EXCHANGE AGENT FOR THE EXCHANGE OFFER IS: THE BANK OF NEW YORK BY HAND DELIVERY OR OVERNIGHT COURIER: BY MAIL: The Bank of New York The Bank of New York 101 Barclay Street 101 Barclay Street, 7E Corporate Trust Services Window New York, New York 10286 Ground Level Attn: Reorganization Section New York, New York 10286 Arwen Gibbons Attn: Reorganization Section Arwen Gibbons BY FACSIMILE TRANSMISSION: (For Eligible Institutions Only) (212) 815-6339 To Confirm Receipt of Facsimile: (212) 815-5920 DELIVERY OF THIS INSTRUMENT TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE OR TRANSMISSION VIA A FACSIMILE TRANSMISSION TO A NUMBER OTHER THAN AS SET FORTH ABOVE WILL NOT CONSTITUTE A VALID DELIVERY. THIS FORM IS NOT TO BE USED TO GUARANTEE SIGNATURES. IF A SIGNATURE ON A LETTER OF TRANSMITTAL IS REQUIRED TO BE GUARANTEED BY AN ELIGIBLE INSTITUTION (AS DEFINED IN THE PROSPECTUS), SUCH SIGNATURE GUARANTEE MUST APPEAR IN THE APPLICABLE SPACE PROVIDED IN THE SIGNATURE BOX ON THE LETTER OF TRANSMITTAL FOR GUARANTEE OF SIGNATURES. Ladies and Gentlemen: The undersigned hereby tenders the principal amount of Old Notes indicated below, upon the terms and subject to the conditions contained in the Prospectus dated , 1997 (the "Prospectus") of Jacor Communications Company, a Florida corporation (the "Company"), and the related Letter of Transmittal (which together constitute the "Offer"), receipt of which is hereby acknowledged. ---------------------------------------------------------------------------------------- DESCRIPTION OF SECURITIES TENDERED ---------------------------------------------------------------------------------------- NAME AND ADDRESS OF REGISTERED HOLDER AS IT CERTIFICATE PRINCIPAL AMOUNT NAME OF TENDERING APPEARS ON THE OLD NOTES NUMBER(S) OF OLD OF OLD NOTES HOLDER (PLEASE PRINT) NOTES TENDERED TENDERED - ------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------ THE FOLLOWING GUARANTEE MUST BE COMPLETED GUARANTEE OF DELIVERY (NOT TO BE USED FOR SIGNATURE GUARANTEE) The undersigned, a member of a recognized signature guarantee medallion program within the meaning of Rule 17Ad-15 under the Securities Exchange Act of 1934, as amended, hereby guarantees to deliver to the Exchange Agent at one of its addresses set forth above, the certificates representing the Old Notes (or a confirmation of book-entry transfer of such Old Notes into the Exchange Agent's account at the book-entry transfer facility), together with a properly completed and duly executed Letter of Transmittal (or a facsimile thereof), with any required signature guarantees, and any other documents required by the Letter of Transmittal within three business days after the Expiration Date (as defined in the Prospectus and the Letter of Transmittal). Name of Firm: __________________________________________________________________ Address: _______________________________________________________________________ Phone #: ( ) __________________________________________________________________ Authorized Signature: __________________________________________________________ Name: __________________________________________________________________________ Title: _________________________________________________________________________ Date: __________________________________________________________________________ NOTE: DO NOT SEND OLD NOTES WITH THIS NOTICE OF GUARANTEED DELIVERY. OLD NOTES SHOULD BE SENT WITH YOUR LETTER OF TRANSMITTAL.