While Clear Channel deals with problems in California, a Florida fair official calls the media giant a great partner.
By TOM ZUCCO, Times Staff Writer
Published September 15, 2005
The Ford Amphitheatre outside Tampa and the Shoreline Amphitheatre outside Mountain View, Calif., both attract a wide range of musical acts, are operated by Clear Channel Entertainment and are located on government-owned land.
After trying for years to get Clear Channel to open its books, the city of Mountain View last week released the results of an audit of the revenue from the Shoreline Amphitheatre.
The city claims Clear Channel hid more than $20-million in revenues since 1999. Under terms of its lease with Mountain View, Clear Channel agreed to pay the city 6.75 percent of all revenue, leaving an unpaid balance of about $3.6-million.
City officials sent Clear Channel a notice of default, giving the company 15 days to come up with the money or lose the right to operate the amphitheater.
In July 2004, Clear Channel began operating the Ford Amphitheatre on land owned by the Florida State Fair Authority. While the Fair Authority's lease agreement is somewhat different than Mountain View's, both are tied to revenue Clear Channel says it took in.
But unlike Mountain View's case, a Fair Authority audit shows only a tiny disparity.
Chuck Pesano, executive director of the Florida State Fair Authority, said Wednesday an audit of Clear Channel's 2004 revenues was off by just $4.
Clear Channel paid the Fair Authority $243,000 based on parking fees and ticket sales last year, Pesano said. The lease also requires Clear Channel pay a fixed yearly fee of $275,000. But since the venue didn't open until July, Clear Channel was required to pay $107,000, or slightly more than a third of the fee.
"We are very pleased with the results of the audit," Pesano said. "Everything Clear Channel owed us was paid on time. They've been a great partner."
