| Radio Stations:                                       |   |   |   |
|-------------------------------------------------------|--------|--------|--------|
|                                                  |   |   |   |
| XEQR, S.A. de C.V.                                    |   |   |   |
|                                                  |   |   |   |
| XERC, S.A. de C.V.                                    |   |   |   |
|                                                  |   |   |   |
| XEEST, S.A. de C.V.                                   |   |   |   |
|                                                  |   |   |   |
| XEQR-FM, S.A. de C.V.                                 |   |   |   |
|                                                  |   |   |   |
| XERC-FM, S.A. de C.V.                                 |   |   |   |
|                                                  |   |   |   |
| XEJP-FM, S.A. de C.V.                                 |   |   |   |
|                                                  |   |   |   |
| XEDKR-AM, S.A. de C.V.                                |   |   |   |
|                                                  |   |   |   |
| Radio Red, S.A. de C.V.                               |   |   |   |
|                                                  |   |   |   |
| Radio Red-FM, S.A. de C.V.                            |   |   |   |
|                                                  |   |   |   |
| Radio Sistema Mexicano, S.A.                          |   |   |   |
|                                                  |   |   |   |
| Estación Alfa, S.A. de C.V.                      |   |   |   |
|                                                  |   |   |   |
| Emisora 1150, S.A. de C.V.                            |   |   |   |
|                                                  |   |   |   |
| Grupo Radio Centro LA, LLC                            |   |   |   |
|                                                  |   |   |   |
| Marketing Companies:                                  |   |   |   |
|                                                  |   |   |   |
| GRC Comunicaciones, S.A. de C.V.                      |   |   |   |
|                                                  |   |   |   |
| GRC Radiodifusión, S.A. (formerly Aerocer, S.A.) |   |   |   |

----

| Service Companies:                                              |   |   |   |
|-----------------------------------------------------------------|--------|--------|--------|
|                                                            |   |   |   |
| Promotora Técnica de Servicios Profesionales, S.A. de C.V. |   |   |   |
|                                                            |   |   |   |
| Publicidad y Promociones Internacionales, S.A. de C.V.          |   |   |   |
|                                                            |   |   |   |
| To2 México, S.A. de C.V.                                   |   |   |   |
|                                                            |   |   |   |
| Promo Red, S.A. de C.V.                                         |   |   |   |
|                                                            |   |   |   |
| Real Estate Companies:                                          |   |   |   |
|                                                            |   |   |   |
| Universal de Muebles e Inmuebles, S.A. de C.V.                  |   |   |   |
|                                                            |   |   |   |
| Inmobiliaria Radio Centro, S.A. de C.V.                         |   |   |   |
|                                                            |   |   |   |
| Sub-holding Companies:                                          |   |   |   |
|                                                            |   |   |   |
| Desarrollos Empresariales, S.A. de C.V.                         |   |   |   |
|                                                            |   |   |   |
| Radiodifusión Red, S.A. de C.V.                            |   |   |   |
|                                                            |   |   |   |
| Enlaces Troncales, S.A. de C.V.                                 |   |   |   |
|                                                            |   |   |   |
| Non-Operating Companies:                                        |   |   |   |
|                                                            |   |   |   |
| Música, Música, Música, S.A. de C.V.             |   |   |   |
|                                                            |   |   |   |
| Promotora de Éxitos, S.A. de C.V.                          |   |   |   |
|                                                            |   |   |   |
| Producciones Artísticas Internacionales, S.A. de C.V.      |   |   |   |

----