Certain Relationships And Related Party Transactions
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9 Months Ended |
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Sep. 30, 2012
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Certain Relationships And Related Party Transactions [Abstract] | |
Certain Relationships And Related Party Transactions | NOTE 7 – CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS Clear Channel is a party to a management agreement with certain affiliates of Bain Capital Partners, LLC and Thomas H. Lee Partners, L.P. (together, the “Sponsors”) and certain other parties pursuant to which such affiliates of the Sponsors will provide management and financial advisory services until 2018. These agreements require management fees to be paid to such affiliates of the Sponsors for such services at a rate not greater than $15.0 million per year, plus reimbursable expenses. For the three months ended September 30, 2012 and 2011, the Company recognized management fees and reimbursable expenses of $3.9 million and $3.8 million, respectively. For the nine months ended September 30, 2012 and 2011, the Company recognized management fees and reimbursable expenses of $11.9 million and $11.8 million, respectively. |