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                                                                    EXHIBIT 99.3
 
                        INDEPENDENT AUDITORS' REPORT ON
                          FINANCIAL STATEMENT SCHEDULE
 
The Board of Directors
Evergreen Media Corporation:
 
     Under the date of January 31, 1997, except for note 2(c), which is as of
February 19, 1997, we reported on the consolidated balance sheets of Evergreen
Media Corporation of Los Angeles and subsidiaries as of December 31, 1995 and
1996, and the related consolidated statements of operations, stockholder's
equity and cash flows for each of the years in the three-year period ended
December 31, 1996. In connection with our audits of the aforementioned
consolidated financial statements, we also audited the related financial
statement schedule. This financial statement schedule is the responsibility of
the Company's management. Our responsibility is to express an opinion on this
financial statement schedule based on our audits.
 
     In our opinion the related financial statement schedule, when considered in
relation to the basic consolidated financial statements taken as a whole,
presents fairly, in all material respects, the information set forth therein.
 
                                            KPMG Peat Marwick LLP
 
Dallas, Texas
January 31, 1997