EXHIBIT 99.2



                          Independent Auditors' Report

To the Advisory Committee
SFX Entertainment Profit Sharing and 401(k) Plan
San Antonio, Texas

We have audited the  statements of net assets as of December 31, 1999 of the SFX
Entertainment  Profit Sharing and 401(k) Plan.  This financial  statement is the
responsibility of the Plan's management.

We  conducted  our  audits  in  accordance  with  generally   accepted  auditing
standards. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material
misstatements. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.  An audit also includes
assessing the  accounting  principles  used and  significant  estimates  made by
management,  as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.

In our opinion,  the financial  statement  referred to above presents fairly, in
all  material  respects,  the  net  assets  available  for  benefits  of the SFX
Entertainment  Profit  Sharing  and  401(k)  Plan  as of  December  31,  1999 in
conformity with generally accepted accounting principles.


/s/ Scott Gildea & Company, LLP
Certified Public Accountants
June 23, 2000