EXHIBIT 12.1 JACOR COMMUNICATIONS, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN THOUSANDS) YEAR ENDED DECEMBER 31, ------------------------------------------------------ 1993 1994 1995 1996 1997 --------- --------- --------- --------- ---------- EARNINGS: Income (loss) before income taxes and extraordinary loss.................................................... $ 4,138 $ 4,165 $ 18,265 $ 15,371 $ 13,004 Fixed charges............................................. 4,768 2,860 3,853 34,799 87,535 --------- --------- --------- --------- ---------- Total................................................... $ 8,906 $ 7,025 $ 22,118 $ 50,170 $ 100,539 --------- --------- --------- --------- ---------- --------- --------- --------- --------- ---------- FIXED CHARGES: Interest expense.......................................... $ 2,735 $ 534 $ 1,444 $ 31,148 $ 80,008 Amortization of debt expense.............................. 238 324 326 1,096 2,187 Portion of rent expense deemed to be interest............. 1,795 2,002 2,083 2,555 5,340 --------- --------- --------- --------- ---------- Total................................................... $ 4,768 $ 2,860 $ 3,853 $ 34,799 $ 87,535 --------- --------- --------- --------- ---------- --------- --------- --------- --------- ---------- Ratio of earnings to fixed charges.......................... 1.9 6.0 5.7 1.4 1.1 --------- --------- --------- --------- ---------- --------- --------- --------- --------- ----------