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Clear Channel The Top Bidder In HOB Quest

Not surprisingly, deep-pocketed Clear Channel Entertainment submitted the highest bid for the House of
Blues clubs and concert division, reportedly tens of millions of dollars higher than bids submitted by
Anschutz Entertainment Group's Concerts West, and Fred Rosen's Key3Media Group, both reportedly in
the $200 million range, reports the Rocky Mountain News. According to the paper, HOB's board of
directors could approve the deal later this month.

If the deal is approved, Clear Channel would then have a lock on Denver's prime concert venues —
Fiddler's Green, Red Rocks, Pepsi Center, the new CityLights Pavilion, Fillmore Auditorium, Paramount
Theatre, Magness Arena and the Fox Theatre in Boulder. However, the deal includes a clause that
would cost Clear Channel millions of dollars if the deal fell through, sources told the paper.

"It's obviously not good news for our situation as a competitor," Nobody In Particular Presents' Jesse
Morreale told the paper. "This goes directly to the heart of our pending antitrust litigation, so my
attorneys have asked me to not comment."

In addition to NIPP's lawsuit, Clear Channel is under scrutiny by the Department of Justice, with two
congressmen already urging an investigation into Clear Channel's business practices.