The Companys OIBDAN1 was down 3%, or $6 million, to $197million for the three months ended June30, 2014, compared to $203million for the same period of 2013. Included in the 2014 second quarter OIBDAN of $197 million were $3 million and $6 million of operating and corporate expenses, respectively, associated with the Companys strategic revenue and efficiency initiatives to attract additional advertising dollars to its businesses and improve operating efficiencies. OIBDAN for the three months ended June 30, 2013 included $10 million of such operating expenses. The Companys consolidated EBITDA, as defined under the CCWH Senior Notes indenture, was $763million for the preceding twelve months ended June30, 2014, down 4% compared to the same period of 2013. The consolidated net income attributable to the Company was $51million in the second quarter of 2014 compared to consolidated net income attributable to the Company of $9million in the same period of 2013.
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