<PAGE>

                                                                    EXHIBIT 10.8

            CONFIDENTIAL TREATMENT REQUESTED PURSUANT TO RULE 24B-2

Certain portions, indicated by [***], of this exhibit have been omitted
pursuant to a request for confidential treatment under Rule 24b-2 of the
Securities Exchange Act of 1934. The omitted materials have been filed
separately with Securities and Exchange Commission.


                              DATED 5 OCTOBER 2000

                      AS AMENDED BY DEED ON 12 JANUARY 2005

         CLEARCHANNEL ENTERTAINMENT UK (THEATRICAL PRODUCTIONS) LIMITED
                    (formerly DAVID IAN PRODUCTIONS LIMITED)

                                      -and-

                                 DAVID IAN LANE

                                SERVICE AGREEMENT

<PAGE>

THIS AGREEMENT is made on the 5th day of October 2000 and amended by DEED dated
12 January 2005

BETWEEN:

      (1)   CLEARCHANNEL ENTERTAINMENT UK (THEATRICAL PRODUCTIONS) LIMITED
            (formerly DAVID IAN PRODUCTIONS LIMITED) (Company No: 4018696) a
            company registered in England, whose registered office is 1 Cluny
            Mews, London SW5 9EG ("the Company"); and

      (2)   DAVID IAN LANE of 12 Little Plucketts Way, Buckhurst Hill, Essex IG9
            5QU ("the Executive").

WHEREAS the Board of Directors of the Company ("the Board") has approved the
terms of this Agreement under which the Executive is to be employed

IT IS HEREBY AGREED as follows:

1.    APPOINTMENT

      The Company shall employ the Executive and the Executive shall serve the
      Company as sole CEO of the Clear Channel Entertainment Theatre, UK and
      International Division on and subject to the terms and conditions
      specified herein ("the Employment"). The Executive may terminate the
      Employment by giving to the Company 3 months' notice in writing in the
      event that his direct reporting line changes to any person other than the
      CEO or COO of Clear Channel Entertainment ("CCE") currently Brian Becker
      and Miles Wilkin respectively, provided that such notice shall be given
      within one month of such change becoming effective. In the event of the
      Executive terminating his employment under this Clause 1, the covenants in
      clause 17.1 and the Schedule to this Agreement shall be waived by the
      Company.

2.    COMMENCEMENT OF EMPLOYMENT

2.1   The Employment will commence on the date of this Agreement ("the
      Commencement Date") and shall continue subject always to the employment
      being terminated under Clause 18 below until 31 December 2010 (the Term"),
      when it shall expire automatically PROVIDED ALWAYS that either the Company
      or the Executive may terminate the employment of the Executive at any time
      subject to giving to the other twelve months' written notice in accordance
      with the provisions of Clause 24 of this Agreement, subject always to the
      provisions of Clause 5.2.1 and 5.2.2 of this Agreement.

2.2   The Executive's period of continuous employment began on the date hereof.

3.    DUTIES

3.1   The Executive shall oversee the operation of the CCE European theatrical
      business, the CCE European sports business, Donington and the CCE London
      head office in Grosvenor Street. Theatrical business includes UK theatres
      plus numerous West End, touring and European

                                      -2-
<PAGE>

      productions and also be responsible for all theatrical business throughout
      the rest of the world, excluding North America in which capacity subject
      to Clause 4.1.4 he shall devote all his time, attention and skill to his
      duties hereunder. The Executive shall at all times act in the interests of
      the Company and its Associated Companies and hereby agrees that (subject
      as hereinafter provided) all existing projects (including but not limited
      to all existing tours and productions) shall be developed by him for the
      benefit of the Company and its Associated Companies. The Executive shall
      faithfully and diligently perform such duties and exercise such powers
      consistent therewith as may from time to time be assigned to or vested in
      him by the Board or the Company consistent with his appointment hereunder.
      The Company and the Executive hereby agree that during the Term all
      promotional documentation (including, but not limited to front of house
      displays, advertising and marketing materials) for all tours and
      productions shall include the wording "David Ian for SFX (Theatre) UK
      presents...". However, the Company reserves the right to review and amend
      this obligation at the Company's discretion, to include specified wording
      in promotional documentation on and at any time after the second
      anniversary of the Term.

3.2   The Company reserves the right to assign to the Executive duties of a
      different nature either additional to or instead of those referred to in
      Clause 3.1 above, PROVIDED THAT he will only be assigned duties which he
      can reasonably perform and which are reasonably consistent with his status
      hereunder and, PROVIDED ALWAYS THAT any material change to the duties will
      require the Executive's prior consent.

3.3   The Executive shall obey the reasonable and lawful orders of the Board,
      given by or with the authority of the Board, and shall comply with all the
      Company's rules, regulations, policies and procedures from time to time in
      force.

3.4   The Executive may be required in pursuance of his duties to perform
      services not only for the Company but also for any Associated Company,
      without further remuneration (except as otherwise agreed), and to accept
      any such office or position in any Associated Company which is consistent
      with his position with the Company, as the Board or the Company may from
      time to time reasonably require.

3.5   The Executive acknowledges that during the Employment the Company and/or
      Associated Company may be subject to a reorganisation or restructuring
      (including but not limited to amalgamation or reconstruction as referred
      to in Clause 20 below). In the event of such reorganisation or
      restructuring, the Executive agrees to comply with the reasonable requests
      of the Board regarding such reorganisation or restructuring PROVIDED THAT
      his duties with regard to the day-to-day management of the business
      carried on by the Company and/or Associated Company immediately before
      such reorganisation or restructuring shall not be diminished.

3.6   The Executive's basic working hours shall be 40 hours each week (including
      weekends), and such additional hours (without further remuneration) as are
      necessary for the proper performance of his duties of employment

                                      -3-
<PAGE>

3.7   Where appropriate the Executive shall during the Employment and for the
      prohibited period after the termination of the Employment comply with all
      applicable rules of the New York Stock Exchange or the exchange or
      national market system in which Clear Channel Communications, Inc.'s
      ("Clear Channel") common stock (or such stock as the Clear Channel common
      stock may be converted into as a result of combinations of shares,
      recapitalisation, merger or other such events relating to the common stock
      of Clear Channel which may occur at any time and from time to time from
      and after the date of this Agreement) is then trading, and the rules and
      regulations of the Securities Act of 1933, as amended (the "Securities
      Act") and the Securities Exchange Act of 1934, as amended (the "Exchange
      Act"), and any Company Policy issued in relation to (i) dealings in shares
      debentures or other securities of Clear Channel and any Associated
      Companies or (ii) unpublished price sensitive information affecting the
      securities of any other company. The Executive shall provide all
      information and such additional assistance to Clear Channel, SFX
      Entertainment, Inc. or the Company as Clear Channel, SFX Entertainment,
      Inc. or the Company may reasonably request to allow it to comply fully
      with such rules, regulations and policies. For the purposes of this clause
      the "prohibited period" shall be from the date of termination of the
      Employment until the later of (i) the next announcement of Clear Channel's
      or any Associated Company's results pursuant to the Exchange Act or (ii)
      such time as when any price sensitive information the Executive has
      obtained during the Employment ceases to be price sensitive information,
      either through publication or otherwise.

4     EXCLUSIVITY OF SERVICE

4.1   During the period of the Employment the Executive shall devote his full
      time and attention to his duties hereunder and shall not (without the
      prior written consent of the Board) directly or indirectly either on his
      own account or on behalf of any other person, company, business entity or
      other organisation:

      4.1.1 (i) engage in, or (ii) be concerned with, or (iii) provide services
            to, (whether as an employee, officer, director, agent, partner,
            consultant or otherwise) any other business; or

      4.1.2 accept any other engagement or public office;

      PROVIDED THAT,

      4.1.3 the Executive may hold up to 5% of any securities in a company which
            is quoted on any recognised stock exchange; and

      4.1.4 the Executive shall, subject to the consent of the Board, have the
            right to devote a portion of his business time to the Permitted
            Activities PROVIDED ALWAYS THAT:

            (i)   any involvement by the Executive in the Permitted Activities
                  does not interfere, directly or indirectly, with the
                  performance of his duties for and on behalf of the Company
                  and/or any Associated Company as set out in this Agreement or
                  otherwise; and

            (ii)  in the event that new tours of those tours specified in Clause
                  25.7 are proposed, the Company and/or Associated Company shall
                  have the right of first refusal to produce and manage such
                  tours PROVIDED THAT it is within the Executive's power to
                  grant such a right.

                                      -4-
<PAGE>

      4.1.5 In addition to the Executive's role as Producer of "Grease" on a
            worldwide basis, the Executive may produce up to three additional
            productions outside the terms of this Agreement subject to:

            (a)   the provisions of Clause 4.1.4 of this Agreement; and

            (b)   CCE having the right to match the Executive's investment in
                  such production on a pound for pound basis up to a maximum of
                  50%, if it is within the Executive's power to grant such a
                  right, and it if is not, up to a maximum of 50% of the
                  Executive's own investment.

4.2   Subject to any written regulations or consents issued by the Company which
      are applicable to him, neither the Executive nor his Immediate Relatives,
      nor any company or business entity in which he or they are interested,
      shall be entitled to receive or obtain directly or indirectly any
      discount, rebate, commission or other benefit in respect of any business
      transacted (whether or not by the Executive) by or on behalf of the
      Company or any Associated Company, and if the Executive, his Immediate
      Relatives or any company or business entity in which he or they is/are
      interested, shall directly or indirectly obtain any such discount, rebate,
      commission or other benefit the Executive shall forthwith account to the
      Company or the applicable Associated Company for the amount received or
      value of the benefit so obtained.

4.3   The Executive confirms that he has disclosed fully to the Company all
      circumstances in respect of which there is, or there might be, a conflict
      of interest between the company or any Associated Company, and the
      Executive or his Immediate Relatives, and the agrees to disclose fully to
      the Company any such circumstances which may arise or of which he becomes
      aware during the Employment.

5.    REMUNERATION AND BONUS

5.1   The Company shall pay to the Executive a salary of Pound Sterling 350,000
      per annum, payable monthly in arrears by equal instalments. This revised
      salary shall take retrospective effect from 1 January 2004. The shortfall
      of salary accrued from 1 January 2004 shall be paid in a lump sum upon
      execution of the deed between Clear Channel Entertainment UK (Theatrical
      Productions) Limited (formerly David Ian Productions Limited) and David
      Ian Lane dated 12 January 2005 ("the Deed"). The salary shall be increased
      thereafter by 3% on 1 January 2006 and on 1 January in each succeeding
      year during the continuation of this Agreement.

5.2.1 The Executive shall be paid a retention bonus of Pound Sterling 500,000 on
      execution of the Deed ("the Retention Bonus"). If the Executive terminates
      the Employment at any time during the Term in accordance with the
      provisions of Clause 1 or Clause 2.1 or Clause 5.5 of this Agreement,
      other than in circumstances amounting to repudiation or constructive
      dismissal, the Executive agrees to repay to the Company, within 21 days of
      the effective date of such termination, a pro rata portion of the
      Retention Bonus, less taxes and other withholdings paid on the Retention
      Bonus by the Executive, based upon any portion of the 6 year period
      running from 1 January 2005 through 31 December 2010 which has not been
      completed at the time of termination ("Clawback Payment").

                                      -5-
<PAGE>

5.2.2 If the Company terminates the employment of the Executive in accordance
      with the provisions of Clause 2.1 of this Agreement for any reason other
      than the Executive's misconduct and/or material breach of contract in
      accordance with the provisions of Clause 18 of this Agreement, no Clawback
      Payment shall be due to the Company from the Executive.

5.3   The Executive will be entitled to a further bonus in each year during the
      continuation of this Agreement calculated in accordance with CCE formula
      at Schedule 1 of this Agreement. For the purposes of this bonus
      calculation, the figure of Pound Sterling 140,000 shall be used as the
      benchmark figure at which the Executive achieves 15% EBITDA growth and the
      remainder of the table shall be calculated accordingly

5.4   The Executive shall be entitled to further bonuses in respect of "The
      Phantom of the Opera" Las Vegas production ("the Production") as follows:

      (a)   Pound Sterling 50,000 on the signature of the Deed;

      (b)   Pound Sterling 50,000 shall be payable to the Executive subject to
            the Production opening on time and on budget which for the purposes
            of this Clause shall mean at the time and subject to the final
            budget as agreed between the Parties. This bonus shall be paid
            within 60 days of the Production opening; and

      (c)   a further maximum bonus of Pound Sterling 75,000 shall be payable to
            the Executive on 31 December 2006 and on 31 December in each
            succeeding year during the continuation of this Agreement based on
            the Production having run for 50 weeks in the relevant year and pro
            rated on a weekly basis for any lesser period. This payment shall be
            conditional on the Production generating a "weekly operating
            profit", which for the purposes of this sub clause shall mean that
            the Production produces an operating profit above the break even
            figure determined from the books and records of CCE. The further
            bonus payable under this sub clause (c) shall be reduced by Pound
            Sterling 1,500 (being the due proportion of Pound Sterling 75,000
            for 50 weeks) for each and any week that the Production produces an
            operating profit (or loss) below the break even figure referred to
            above.

      (d)   the Executive shall be entitled to one business class return flight
            for his wife and his children and full reimbursement for a family
            size hotel suite at the Venetian Hotel in Las Vegas for 21 nights,
            during the Production period.

5.5   In the event that CCE acquires the whole or part of [***] ("[***]") or the
      [***] ("[***]") or enters into a significant transaction with [***] on
      completion of such transaction ("Completion"), the Executive shall be
      entitled to terminate this Agreement within 90 days of such transaction
      closing by giving to the Company not less than 2 months' written notice in
      accordance with the provisions of Clause 24 of this Agreement. In the
      event of such termination the Clawback Payment shall be due from the
      Executive to the Company in accordance with the terms of Clause 5.2.1.

5.6   The remuneration specified in Clause 5.1 and 5.2 above shall be inclusive
      of any fees to which the Executive may be entitled as a Director of the
      Company or of any Associated Company.

                                      -6-
----------------
*** Confidential
<PAGE>

6.    CAR AND TRAVEL BENEFITS

6.1   Until termination of the Employment, the Company shall provide the
      Executive with a car allowance for the sole and exclusive use of a motor
      car at the rate of Pound Sterling 32,000 per annum payable monthly to
      cover all the running expenses of such motor car including maintenance and
      repairs but not motor tax, insurance premiums, petrol (including business
      and personal) and oil which will be separately paid by the Company subject
      to the Executive submitting receipts or other appropriate invoices.

6.2   The Executive shall be entitled, for the purposes of the Employment, to
      travel first class by train and plane and to stay in deluxe hotel
      accommodation and the Company shall pay or reimburse (as appropriate)
      against receipts or other appropriate evidence of costs so incurred by the
      Executive (excluding any costs incurred in connection with the Executive's
      private entertainment, such as his use of mini-bar facilities).

6.3   The Company shall provide the Executive with a mobile telephone and shall
      pay all reasonable expenses (including rental) In respect thereof.

7.    EXPENSES

      The Company shall reimburse to the Executive upon production of reasonably
      detailed accounts and vouchers or other reasonable evidence of payment by
      the Executive all reasonable travel entertainment and other expense
      properly incurred and defrayed by him in the course of the Employment,
      subject to the Company's rules, policies and procedures relating to
      expenses.

8.    DEDUCTIONS

      The Company shall be entitled at any time during the Employment, or in any
      event on termination, to deduct from the Executive's remuneration
      hereunder any monies due from him to the Company including but not limited
      to any outstanding loans, advances, relocation expenses, the cost of
      repairing any damage or loss to the Company's property caused by him (and
      of recovering the same), excess holiday, any sums due from him under
      Clause 10 below and any other monies owed by him to the Company solely in
      his capacity as an employee.

9.    PLACE OF WORK

      The Executive's place of work shall be 35-36 Grosvenor Street, London W1X
      9SG. In the performance of his duties hereunder, the Executive may be
      required to travel both throughout and outside the United Kingdom.

10.   SICKNESS BENEFIT

10.1  The Executive shall be entitled to such sickness benefits as are provided
      from time to time under the Company's sick pay procedure.

10.2  When calculating the Executive's normal salary, deductions will be made
      for any State sickness or other benefits due to the Executive, as well as
      normal deductions for tax and National Insurance.

                                       -7-
<PAGE>

10.3  The Executive will be paid Statutory Sick Pay ("SSP") when he is eligible
      to receive it under the legislation and regulations from time to time in
      force. Where Company sick pay and SSP fall to be paid for the same day(s)
      of absence, the Executive will receive the higher of the two sums. Further
      details about SSP can be obtained from the HR Department.

10.4  The Company reserves the right to require the Executive to undergo a
      medical examination by a doctor or consultant nominated by it, in which
      event the Company will bear the cost thereof.

10.5  Whilst, during the Employment, the Executive is absent from work on
      grounds of sickness or other medical incapacity:

      10.5.1 he will continue to be covered by the relevant life assurance,
             private medical insurance and permanent health insurance scheme(s);

      10.5.2 his entitlement to the use of the Company Car, the payment of the
             Company's pension contributions, participation in any incentive or
             bonus scheme, and accrual of holiday entitlement shall cease on the
             expiry of the relevant period of Company sick pay entitlement
             referred to in Clause 10.1 above.

10.6  Any outstanding or prospective entitlement to any sickness benefit,
      including but not limited to Company sick pay, private medical insurance
      or long-term disability benefits, shall not prevent the Company from
      exercising its right to terminate the Employment in accordance with
      Clauses 2 or 18 hereof.

11.   HOLIDAYS

11.1  The Executive shall be entitled to receive his normal remuneration for all
      Bank and Public holidays normally observed in England and a further 25
      working day's holiday in each holiday year (the period from January to
      December), such days to be taken at times which do not conflict with the
      business interests of the Company.

11.2  In the holiday years in which the Employment commences or terminates the
      entitlement shall accrue on a pro rata basis for each complete month of
      service

11.3  The Company reserves the right, at its sole discretion, to require the
      Executive to take all or part of any outstanding holiday during any notice
      period or to make a payment in lieu thereof

11.4  Holiday entitlement for one holiday year cannot be taken in subsequent
      holiday years. Failure to take holiday entitlement in the appropriate
      holiday year will lead to forfeiture of any accrued holiday not taken
      without any right to payment in lieu thereof.

12.   PENSION AND OTHER BENEFITS

12.1  In addition to the base salary payable under Clause 5.1 above, during the
      Executive's Employment under this Agreement the Company shall make monthly
      contributions on the Executive's behalf, subject to the Inland Revenue
      limits, into such personal pension plan as the Executive shall direct of
      an amount equal to ten per cent (10%) of his base salary for the time
      being payable under Clause 5.1.

                                      -8-
<PAGE>

      There is no contracting-out certificate in force for the Employment in
      relation to the State Earnings Related Pension Scheme.

12.2  The Executive shall be eligible to participate in Apollo Leisure UK
      Limited's private medical insurance scheme for the benefit of himself, his
      wife and minor children, permanent health insurance scheme and life
      assurance scheme, subject to the terms and conditions of such schemes from
      time to time in force. Details of such scheme(s) can be obtained from the
      HR Department. The Company reserves the right to terminate or substitute
      other scheme(s) for such scheme(s) or amend the scale or level of benefits
      of such scheme(s). If any scheme provider (including but not limited to
      any insurance company) refuses for any reason (whether based on its own
      interpretation of the terms of the insurance policy or otherwise) to
      provide any benefits to the Executive, the Company shall not be liable to
      provide any such benefits itself or any compensation in lieu thereof.

12.3  Any actual or prospective loss of entitlement to private medical and
      permanent health insurance benefits or any other sickness benefit shall
      not limit or prevent the Company from exercising its right to terminate
      the Employment in accordance with Clauses 2 or 18 hereof.

13.   REASONABLENESS OF RESTRICTIONS

      The Executive recognises that, whilst performing his duties for the
      Company, he will have access to and come into contact with trade secrets
      and confidential information belonging to the Company or to Associated
      Companies and will obtain personal knowledge of and influence over its or
      their customers and/or employees. The Executive therefore agrees that the
      restrictions contained or referred to in Clauses 14 and 17 and the
      Schedule are reasonable and necessary to protect the legitimate business
      interests of the Company and its Associated Companies both during and
      after the termination of the Employment.

14.   CONFIDENTIAL INFORMATION

14.1  The Executive shall neither during the Employment (except in the proper
      performance of his duties) nor at any time (without limit) after the
      termination thereof, directly or indirectly:

      14.1.1 use for his own purposes or those of any other person, company,
             business entity or other organisation whatsoever; or

      14.1.2 disclose to any person, company, business entity or other
             organisation whatsoever;

      any trade secrets or confidential information relating or belonging to the
      Company or its Associated Companies including but not limited to any such
      information relating to customers, customer lists or requirements, price
      lists or pricing structures, sales and marketing information, business
      plans or dealings, employees or officers, source codes and computer
      systems, software, services and financial information, any document marked
      'Confidential' (or with a similar expression), or any information which
      the Executive has been told is confidential or which he might reasonably
      expect the Company would regard as confidential, or any information which
      has been given to the Company or Associated Company in confidence by
      customers, suppliers or other persons.

                                      -9-
<PAGE>

14.2  The Executive shall not at any time during the continuance of his
      employment with the Company make any notes or memoranda relating to any
      matter within the scope of the Company's business' dealings or affairs
      otherwise than for the benefit of the Company or any Associated Company.

14.3  The obligations contained in Clause 14.1 shall cease to apply to any
      information or knowledge which may subsequently come into the public
      domain after the termination of the Employment other than by way of
      unauthorised disclosure or which is required to be disclosed by a
      competent regulatory, taxation or enforcement authority.

14.4  The Executive shall not make or communicate any statement (whether written
      or oral) to any representative of the press, television, radio, or other
      media and shall not write any article for the press or otherwise for
      publication on any matter connected with or relating to the business of
      any company, including but not limited to the business of the Company or
      any Associated Company, without obtaining the prior written approval of
      the Board PROVIDED ALWAYS that this Clause 14.4 shall not operate so as to
      prevent the Executive making or communicating reasonable statements on
      matters connected with the business of the SFX Theatre (UK) division.

15.   COPYRIGHT, INVENTIONS AND PATENTS

15.1  All records, documents, papers (including copies and summaries thereof)
      and other copyright protected works made or acquired by the Executive in
      the course of the Employment shall, together with all the worldwide
      copyright and design rights in all such works, be and at all times remain
      the absolute property of the Company.

15.2  The Executive hereby irrevocably and unconditionally waives all rights
      granted by Chapter IV of Part I of the Copyright, Designs and Patents Act
      1988 that vest in him (whether before, on or after the date hereof) in
      connection with his authorship of any copyright works in the course of his
      employment with the Company, wherever in the world enforceable, including
      without limitation the right to be identified as the author of any such
      works and the right not to have any such works  subjected to derogatory
      treatment.

15.3  The Executive and the Company acknowledge the provisions of Sections 39 to
      42 of the Patents Act 1977 ("the Act") relating to the ownership of
      employees' inventions and the compensation of employees for certain
      inventions respectively. If the Executive makes any inventions that do not
      belong to the Company under the Act, he agrees that he will forthwith
      license or assign (as determined by the Company) to the Company his rights
      in relation to such inventions and will deliver to the Company all
      documents and other materials relating to them. The Company will pay to
      the Executive such compensation for the licence or assignment as the
      Company will determine in its absolute discretion, subject to Section 40
      of the Act.

16.   DATA PROTECTION

16.1  The Data Protection Act 1998 (the "Act") sets out principles that should
      be followed when processing personal data. One of the ways in which the
      Company can take steps to comply with some of these principles is to ask
      the Executive to consent to the processing of his employment-

                                        -10-
<PAGE>

      related personal data. This is not the only way that the Company can
      comply with the principles contained in the Act. Please contact the HR
      Department for a copy of the Company's Data Protection Policy.

16.2  The Company will hold computer records and personnel files relating to the
      Executive. These will include his references, bank details, performance
      appraisals, holiday and sickness records, salary reviews and remuneration
      details and other employment related records, (which may, where necessary,
      include sensitive data relating to the Executive's health, and data held
      for ethnic monitoring purposes). The Company requires such personal data
      for personnel administration and management purposes and to comply with
      its obligations regarding the keeping of employee/worker records. The
      Executive's right of access to this data is as prescribed by law. Please
      contact the HR Department for details of these rights.

16.3  The Executive hereby expressly agrees that the Company may process
      personal data relating to him for personnel administration and management
      purposes and may, when necessary for those purposes, make such data
      available to its advisers, to parties providing products and/or services
      to the Company (such as IT systems suppliers, pension, benefits and
      payroll administrators), to regulatory authorities (including the Inland
      Revenue), and as required by law. Further, the Executive hereby expressly
      agrees that the Company may transfer such data to and from its Associated
      Companies including any Associated Companies located outside the European
      Economic Area and including but not limited to those Associated Companies
      located in the United States of America.

16.4  The Executive may revoke his express consent for the Company to process
      personal data relating to his employment relationship with the Company by
      writing to the HR Department.

17.   POST-TERMINATION OBLIGATIONS

17.1  The Executive agrees that he will observe the post-termination obligations
      set out in Schedule 2 hereto.

17.2  The Executive agrees that in the event of receiving from any person,
      company, business entity or other organisation an offer of employment
      either during the continuance of this Agreement or during the continuance
      in force of any of the restrictions set out in the Schedule annexed
      hereto, he will forthwith provide to such person, company, business entity
      or other organisation making such an offer of employment a full and
      accurate copy of Clauses 14 and 17 hereof, and the Schedule annexed
      hereto.

18.   TERMINATION

18.1  Notwithstanding Clause 2 above, the Company may terminate the Employment
      with immediate effect if the Executive shall at any time:

      18.1.1 die; or

      18.1.2 be guilty of dishonesty, or be guilty of gross misconduct, or gross
             incompetence or wilful neglect of duty, or commit any other serious
             breach of this Agreement; or

                                      -11-
<PAGE>

      18.1.3  act in any manner (whether in the course of his duties or
              otherwise) which is likely to bring him, the Company or any
              Associated Company into disrepute or prejudice the interests of
              the Company or any Associated Company.

      18.1.4  become bankrupt, apply for or have made against him a receiving
              order under Section 286 Insolvency Act 1986, or have any order
              made against him to reach a voluntary arrangement as defined by
              Section 253 of that Act; or

      18.1.5  be or become of unsound mind; or

      18.1.6  for an aggregate period of six months or more in any period of 12
              consecutive months (or any other period proscribed by any
              applicable law) be incapable of performing his duties hereunder by
              reason of ill health or other incapacity (whether accidental or
              otherwise); or

      18.1.7  be addicted to or abuse in any way an illegal drug or substance;
              or

      18.1.8  make any material or recurring disparaging oral or written
              statements regarding the Company or any Associated Company and,
              without limitation, officers, shareholders or the management team
              of the Company or any Associated Company; or

      18.1.9  after having received a written warning from the Company relating
              to the unsatisfactory conduct or poor performance of his duties,
              continue the conduct or performance complained of in the written
              warning; or

      18.1.10 be convicted of an indictable offence other than a minor road
              traffic offence; or

      18.1.11 be or become prohibited by law from being a director, or

      18.1.12 directly or indirectly advise or participate or act in concert
              (within the meaning of the City Code on Take-Overs and Mergers)
              with any person who makes or is considering making any offer for
              the issued share capital of the Company; or

      18.1.13 make or be found to have made a material fraudulent
              misrepresentation in, or have otherwise materially breached the
              Share Sale Agreement of even date herewith, made between by and
              among SFX UK Holdings and the Executive relating to the sale and
              purchase of the entire issued share capital of the Company (the
              "Share Sale Agreement").

      Any delay by the Company in exercising such right to termination shall
      not constitute a waiver thereof.

18.2  If the Executive's Employment terminates pursuant to Clauses 18.1.1,
      18.1.5 or 18.1.6 above, the Executive, his estate, legal representatives
      or nominee(s) shall be entitled to receive in full satisfaction of all
      obligations due to the Executive under this Agreement, all accrued but
      unpaid base salary, any accrued but unpaid bonus in respect of the bonus
      year ended prior to the Termination Date and a pro rata bonus payment for
      the bonus year in which the Termination Date

                                      -12-
<PAGE>

      occurs upon payment of which the Company shall have no further obligations
      or liabilities to the Executive hereunder.

18.3  If the Executive's Employment terminates pursuant to Clauses 18.1.2
      - 18.1.4 or 18.1.7 - 18.1.13 above, the Executive shall be entitled to
      receive in full satisfaction of all obligations, due to the Executive
      under this Agreement, all accrued but unpaid base salary, any accrued but
      unpaid bonus in respect of the bonus year ended prior to the Termination
      Date and a pro rata bonus payment for the bonus year in which the
      Termination Date occurs.

18.4  On termination of the Employment, the Executive shall forthwith return to
      the Company in accordance with its instructions all equipment,
      correspondence, records, specifications, software, models, notes, reports
      and other documents and any copies thereof and any other property
      belonging to the Company or its Associated Companies (including but not
      limited to the Company Car, keys, credit cards, equipment and passes)
      which are in his possession or under his control. The Executive shall, if
      so required by the Company, confirm in writing his compliance with his
      obligations under this Clause 18.4.

18.5  The Executive agrees that:

      18.5.1(a) the Company may, at its absolute discretion, give to the
                Executive a Compensation Payment (which may, at the Company's
                discretion, be paid in instalments) in lieu of all or any part
                of the unexpired period of the Term (to which, for the avoidance
                of doubt, the Executive shall have no entitlement unless and
                until the Company notifies the Executive in writing of its
                decision to make the Compensation Payment to him) which shall be
                in full and final settlement of all claims (including but not
                limited to contractual claims) which the Executive may have
                against the Company and/or any Associated Company and on payment
                of which the Company and/or Associated Company shall have no
                further obligations or liabilities to the Executive; and

      18.5.1(b) where the Company decides to exercise its power under Clause
                18.5.1(a) to make any such payment(s) to the Executive, the
                Executive undertakes to take all reasonable and necessary steps
                to find alternative employment to commence within a period
                equivalent to the unexpired period of the Term or the notice
                period set out in Clause 3 above (or where notice has been
                served, the unexpired period of notice) commencing on the
                Termination Date. The Company may, in its absolute discretion,
                reduce the amount or amounts of any such payment(s) by such an
                amount as reflects the Executive's actual mitigation. For the
                avoidance of doubt, such reduction may result in the cessation
                of instalment payments, or the Executive being entitled to no
                payment; and/or

      18.5.2    the Company may, at its absolute discretion, require the
                Executive not to attend at work and/or not to undertake all or
                any of his duties hereunder for a single period of 6 months or
                any part of the unexpired period of the Term, whichever period
                is shorter, PROVIDED ALWAYS that the Company shall continue to
                pay the Executive's base

                                      -13-
<PAGE>

                salary and contractual benefits. For the avoidance of doubt, the
                Executive shall not be entitled to receive any bonus payment for
                any period during which he does not attend at work pursuant to
                this clause. In the event that the Company instructs the
                Executive not to attend work pursuant to this Clause 18.5.2,
                then the periods of restriction set out in the Schedule shall be
                reduced by any period during which the Executive did not attend
                at work and/or did not undertake employment duties pursuant to
                Clause 18.5.2.

18.6  The Company shall have the right to suspend the Executive on full pay
      pending any investigation into any potential dishonesty, gross misconduct
      or any other circumstances which may give rise to a right to the to the
      Company to terminate pursuant to Clause 18.1 above.

18.7  The termination of the Employment shall be without prejudice to any right
      the Company may have in respect of any breach by the Executive of any of
      the provisions of this Agreement which may have occurred prior to such
      termination.

18.8  The Executive agrees that he will not at any time after the termination of
      the Employment represent himself as still having any connection with the
      Company or Associated Company, save as a former employee for the purpose
      of communicating with prospective employers or complying with any
      applicable statutory requirements.

18.9  The Executive hereby agrees that, in the event of the expiry of the fixed
      term of his employment hereunder without it being renewed, he shall have
      no claim against the Company under Section 135 Employment Rights Act 1996
      in respect of a statutory redundancy payment.

19.   DIRECTORSHIPS

19.1  The Executive shall forthwith resign in writing from all directorships,
      trusteeships and other offices he may hold from time to time with the
      Company or any Associated Company without compensation for loss of office
      in the event of:-

      19.1.1 the termination of his employment; or

      19.1.2 the Company exercising its rights under Clause 18.5 above.

19.2  In the event of the Executive failing to comply with his obligations under
      Clause 19.1 above, he hereby irrevocably and unconditionally authorises
      the Company to appoint some person in his name and on his behalf to sign
      or execute any documents and/or do all things necessary to requisite to
      give effect to such resignations as referred to in Clause 19.1 above.

20.   LIQUIDATION FOR RECONSTRUCTION OR AMALGAMATION

      The Executive shall have no claim against the Company if the Employment is
      terminated by reason of the liquidation of the Company for the purposes of
      amalgamation or reconstruction provided that he is offered employment with
      any concern or undertaking resulting from such amalgamation or
      reconstruction on terms and conditions which, taken as a whole, are not
      less favourable than the terms of this Agreement.

                                      -14-
<PAGE>

21.   GRIEVANCE AND DISCIPLINARY PROCEDURES

      If the Executive has any grievance relating to the Employment, he should
      raise it with the Chairman of SFX Europe and thereafter (if the matter is
      not resolved) with the Board. In such a case the Board will deal with the
      matter by discussion and majority decision of those present and voting.
      The disciplinary procedure applicable to the Executive is such procedure
      as is set out from time to time in the Company's Employee Handbook. For
      the avoidance of doubt, the disciplinary procedure does not form part of
      the Executive's contract of employment.

22.   SEVERABILITY

      The various provisions and sub-provisions of this Agreement and the
      Schedule attached hereto are severable and if any provision or
      sub-provision is held to be unenforceable by any court of competent
      jurisdiction then such unenforceability shall not affect the
      enforceability of the remaining provisions or sub-provisions in this
      Agreement or the Schedule.

23.   WARRANTY


23.1  The Executive represents and warrants that he is not prevented by any
      agreement, arrangement, contract (including but not limited to the
      employment agreement dated May 1999 between Magnum Productions (Theatre)
      Limited (formerly David Ian Productions Limited) and the Executive),
      understanding, Court Order or otherwise, which in any way directly or
      indirectly restricts or prohibits him from fully performing the duties of
      the company, or any of them, in accordance with the terms and conditions
      of this Agreement.

24.   NOTICES

24.1  Any notice, direction or instruction required or permitted to be given
      hereunder shall be given in writing and may be given by telegram,
      facsimile transmission, mail (if by registered mail and if postage is
      pre-paid and a return receipt is requested), or by hand delivery, to (a)
      in the case of the Company to its Registered Office for the time being and
      (b) in the case of the Executive, to his last known address.

24.2  If notice, direction or instruction is given by telegram or facsimile
      transmission or a similar method or by hand delivery, it shall be deemed
      to have been given or made on the day on which it was given, and if
      mailed, it shall be deemed to have been given or made on the third
      business day following the day after which it was mailed.

24.3  For the purposes of this Clause 24, "business day" means a day on which
      banks are open for business in the place of both the posting and the
      address of the notice.

25.   DEFINITIONS

      In this Agreement the following words and cognate expressions shall have
      the meaning set out below:

25.1  an "Associated Company" includes any firm, company, corporation or other
      organisation:

                                      -15-
<PAGE>

      25.1.1 which is directly or indirectly controlled by the Company;

      25.1.2 which directly or indirectly controls the Company; or

      25.1.3 which is directly or indirectly controlled by a third party who
             also directly or indirectly controls the Company; or

      25.1.4 of which the Company or any other Associated Company owns or has a
             beneficial interest in 20% or more of the issued share capital or
             20% or more of its capital assets; or

      25.1.5 which is the successor in title or assign of the firms, companies,
             corporations or other organisations referred to above.

25.2  "The Board" shall mean the Board of Directors of the Company.

25.3  "Compensation Payment" means a sum calculated as follows:

            A X Pound Sterling B less C
            ------
            365

      "A"   is the number of days of the unexpired Term.

      "B"   is the Executive's annual base salary referred to Clause 5.1 above
            on the date when he is notified in writing by the Company that it
            will be making him a Compensation Payment. For the avoidance of
            doubt, this shall not be include the value of any bonus, incentive
            or commission entitlement, benefits or holiday entitlement which
            would have accrued to the Executive had he been employed until the
            expiry of the expiry of the Term.

      "C"   any reduction made pursuant to Clause 18.5.1(b).

25.4  "Control" has the meaning ascribed by Section 416 Taxes Act 1988 (as
      amended).

25.5  "HR Department" shall mean the Human Resources Department of Apollo
      Leisure (UK) Limited.

25.6  "Immediate Relatives" shall include the Executive's wife, children under
      18 years of age, brothers and sisters and the aforesaid relatives by
      marriage.

25.7  "Permitted Activities" shall mean the Executive's current level of
      involvement at the date hereof as producer, co-producer and/or manager of
      touring productions of "Grease", "SNF", "Barnum" and "Happy Days" in the
      UK.

25.8  "Retail Price Index" shall refer to the percentage increase figure
      calculated over the preceding 12 months and defined by the Office of
      National Statistics.

25.9  "SFX (Theatre) UK division" shall mean such division of the SFX Group
      which is from time to time concerned with the theatre business in the UK.

25.10 "Termination Date" shall mean the date upon which the Executive's
      employment with the Company terminates.

                                      -16-
<PAGE>

26.   CONSTRUCTION

26.1  The provisions of the Schedule attached hereto and any additional terms
      endorsed in writing by or on behalf of the parties hereto shall be read
      and construed as part of this Agreement and shall be enforceable
      accordingly.

26.2  The benefit of each agreement and obligation of the Executive under Clause
      14 and the Schedule attached hereto of this Agreement may be assigned to
      and enforced by any other member of the Clear Channel Communications Inc
      and all of its subsidiaries from time to time and such agreements and
      obligations shall operate and remain binding, notwithstanding the
      termination of this Agreement.

27.   PRIOR AGREEMENTS

27.1  This Agreement together with the 2 side letters dated 12 January 2005
      attached to this Agreement as Schedules 3 and 4 cancel and are in
      substitution for all previous letters of engagement, agreements and
      arrangements (whether oral or in writing) relating to the subject-matter
      hereof between the Company and the Executive all of which shall be deemed
      to have been terminated by mutual consent.

27.2  The Executive hereby agrees to waive all claims and rights of action
      (whether under statute, common law or otherwise) in any jurisdiction in
      the world, howsoever arising (including but not limited to contractual
      claims, breach of contract, tort and the Executive's prospective
      entitlement to bring such claims) which the Executive has or may have
      against the Company or any Associated Company, its officers, employees or
      shareholders, arising from or connected with the Executive's previous
      contract of employment with the Company or Associated Company, or the
      termination thereof.

27.3  This Agreement and an Opt-Out Agreement of even date made between the
      Executive and the Company ("the Opt-Out Agreement") constitute the entire
      terms and conditions of the Executive's Employment and, save for as
      provided otherwise in the Opt-Out Agreement, no waiver or modification
      thereof shall be valid unless in writing, signed by the parties and only
      to the extent therein set forth.

28.   GOVERNING LAW AND JURISDICTION

      This Agreement is governed by and construed in accordance with the laws of
      England. The parties hereto submit to the exclusive jurisdiction of the
      English Courts.

                                      -17-
<PAGE>

                           DATED                 2005

                                      DEED
                                   AMENDING A
                                SERVICE AGREEMENT
                              DATED 5 OCTOBER 2000


      CLEAR CHANNEL ENTERTAINMENT UK                     (1)
      (THEATRICAL PRODUCTIONS) LIMITED

      (FORMERLY DAVID IAN PRODUCTIONS LIMITED)

      DAVID IAN LANE                                     (2)

<PAGE>

      DATE

            2005

      PARTIES

(1)   CLEAR CHANNEL ENTERTAINMENT UK (THEATRICAL PRODUCTIONS) LIMITED (formerly)
      DAVID IAN PRODUCTIONS LIMITED) (Company Number 4018696) whose registered
      office is at 1 Cluny Mews London SW5 9EG ("the Company"); and

(2)   DAVID IAN LANE of 12 Little Plucketts Way, Buckhurst Hill, Essex, IG9 5QU
      ("the Executive").

      INTRODUCTION

(A)   The parties entered into a service agreement dated 5 October 2000 in
      respect of the Executive's employment with the Company ("the Service
      Agreement").

(B)   The parties wish to vary the Service Agreement in the manner set out in
      the following provisions of this Deed.

      OPERATIVE PROVISIONS

1     In Clause 1 there shall be substituted for the words "Managing Director of
      the SFX (Theatre) UK Division" the words "sole CEO of the Clear Channel
      -Entertainment Theatre, UK and International Division".

2     The following words shall also be added to the end of Clause 1:

            "The Executive may terminate the Employment by giving to the Company
            3 months' notice in writing in the event that his direct reporting
            line changes to any person other than the CEO or COO of Clear
            Channel Entertainment ("CCE") currently Brian Becker and Miles
            Wilkin respectively, provided that such notice shall be given within
            one month of such change becoming effective." In the event of the
            Executive terminating his employment under this Clause 1, the
            covenants in Clause 17.1 and the Schedule to the Service
            Agreement shall be waived by the Company.

<PAGE>

3     In Clause 2.1 there shall be substituted for the words "for a period of
      five years, expiring on the fifth anniversary of the Commencement Date"
      the words "until 31 December 2010 when it shall expire automatically
      PROVIDED ALWAYS that either the Company or the Executive may terminate
      this employment of the Executive at any time subject to giving to the
      other twelve months' written notice in accordance with the provision of
      Clause 24 of the Service Agreement, subject always to the provisions of
      Clauses 5.2.2 and 5.2.3 of this Agreement".

4     In Clause 3.1 there shall be substituted for the words "be employed in
      the post of sole Managing Director of the SFX (Theatre) UK division the
      words "oversee the operation of the CCE European theatrical business, the
      CCE European sports business, Donington and the CCE London head office in
      Grosvenor Street". Theatrical business includes UK theatres plus numerous
      West End, touring and European productions and also be responsible for all
      theatrical business throughout the rest of the world, excluding North
      America."

5     A new Clause 4.1.5 shall be added as follows:

            "In addition to the Executive's role as Producer of "Grease" on a
            worldwide basis, "the Executive may produce up to three additional
            productions outside the terms of the Service Agreement subject to:

            (a)   the provisions of Clause 4.1.4 of the Service Agreement (other
                  than Clause 4.1.4(ii) which shall be deleted); and

            (b)   CCE having the right to match the Executive's investment in
                  such production on a pound for pound basis up to a maximum of
                  50 %, if it is within the Executive's power to grant such a
                  right, and if it is not, up to a maximum of 50 % of the
                  Executive's own investment."

6     Clause 5.1 shall be deleted and substituted with the following wording:

            "The Company shall pay to the Executive a salary of Pound Sterling
            350,000 per annum, payable monthly in arrears by equal instalments.
            This revised salary shall take retrospective effect from 1 January
            2004. The shortfall of salary accrued from 1 January 2004 shall be
            paid in a lump sum upon execution of the deed between Clear Channel
            Entertainment UK (Theatrical Productions) Limited (formerly David
            Ian Productions Limited) and David Ian Lane dated    2005 ("the
            Deed").
<PAGE>

            The salary shall be increased thereafter by 3% on 1 January 2006 and
            on 1 January in each succeeding year during the continuation of this
            Agreement"

7     Clause 5.2 shall be deleted and substituted with the following:

            5.2.2 "The Executive shall be paid a retention bonus of Pound
            Sterling 500,000 on the date hereof ("the Retention Bonus"). If the
            Executive terminates the employment at any time during its term in
            accordance with the provisions of Clause 1 or Clause 2.1 or Clause
            5.5 of this Agreement, other than in circumstances amounting to
            repudiation or constructive dismissal, the Executive agrees to repay
            to Company, within 21 days of the effective date of such
            termination, a pro rata portion of the Pound Sterling 500,000
            payment paid to Executive on 1 January 2005, less taxes and other
            withholdings paid on the retention bonus amount by the Executive,
            based upon any portion of the 6 year period running from 1 January
            2005 through 31 December 2010 which has not been completed at the
            time of the termination ("Clawback Payment").

            5.2.3 If the Company terminates the employment of the Executive in
            accordance with the provisions of Clause 2.1 of this Agreement for
            any reason other than the Executive's misconduct and/or material
            breach of contract in accordance with the provisions of Clause 18 of
            this Agreement, no Clawback Payment shall be due to the Company from
            the Executive."

8     A new clause 5.3 shall be inserted as follows:

            "The Executive will be entitled to a further bonus in each year
            during the continuation of this Agreement calculated in accordance
            with CCE formula at Appendix 1 of the Deed. For the purposes of this
            bonus calculation, the figure of Pound Sterling 140,000 shall be
            used as the benchmark figure at which the Executive achieves 15%
            EBITDA growth and the remainder of the table shall be calculated
            accordingly."

9     A new clause 5.4 shall be inserted as follows;

            "The Executive shall be entitled to further bonuses in respect of
            "The Phantom of the Opera" Las Vegas production ("the Production")
            as follows:

<PAGE>

            (a)   Pound Sterling 50,000 on the signature of the Deed.

            (b)   Pound Sterling 50,000 shall be payable to the Executive
                  subject to the Production opening on time and on budget which
                  for the purposes of this Clause shall mean at the time and
                  subject to the final budget as agreed between the Parties.
                  This bonus shall be paid within 60 days of the Production
                  opening; and

            (c)   A further maximum bonus of Pound Sterling 75,000 shall be
                  payable to the Executive on 31 December 2006 and on 31
                  December in each succeeding year during the continuation of
                  this Agreement based on the Production having run for 50 weeks
                  in the relevant year and pro rated on a weekly basis for any
                  lesser period. This payment shall be conditional on the
                  Production generating a "weekly operating profit", which for
                  the purposes of this sub clause shall mean that the Production
                  produces an operating profit above the break even figure
                  determined from the books and records of CCE. The further
                  bonus payable under this sub clause (c) shall be reduced by
                  Pound Sterling 1,500 (being the due proportion of Pound
                  Sterling 75,000 for 50 weeks) for each and any week that the
                  Production produces an operating profit (or loss) below the
                  break even figure referred to above.

            (d)   the Executive shall be entitled to one business class return
                  flight for his wife and his children and full reimbursement
                  for a family size hotel suite at the Venetian Hotel in Las
                  Vegas for 21 nights, during the Production period."

10    A new clause 5.5 shall be inserted as follows:

                "In the event that CCE acquires the whole or part of [***]
                ("[***]") or the [***] ("[***]") or enters into a significant
                transaction with [***] on completion of such transaction
                ("Completion"), the Executive shall be entitled to terminate
                this Agreement within 90 days of such transaction closing by
                giving to the Company not less than 2 months' written notice in
                accordance with the provisions of Clause 24 of the Service
                Agreement. In the event of such termination the Clawback


________________
*** Confidential
<PAGE>

                Payment shall be due from the Executive to the Company in
                accordance with the terms of Clause 5.2.2".

11    Clause 5.3 shall be re-numbered accordingly.

12    Clause 6.1 shall be deleted and substituted with the following wording;

            "Until termination of the Employment, the Company shall provide the
            Executive with a car allowance for the sole and exclusive use of a
            motor car at the rate of Pound Sterling 32,000 per annum payable
            monthly to cover all the running expenses of such motor car
            including maintenance and repairs but hot motor tax; insurance
            premiums, petrol (including business and personal) and oil which
            will be separately paid by the Company subject to the Executive
            submitting receipts or other appropriate invoices."

13    In clause 12.1 there shall be substituted for the words and figure "five
      per cent (5%)" the words and figure "ten per cent (10%)".

14    Except as expressly varied by this Deed, the Service Agreement shall
      remain in full force and effect.

      IN WITNESS whereof this Deed has been executed the day and year first
      above written

<PAGE>

ATTESTATIONS

EXECUTED as a DEED by              )
for and on behalf of
CLEAR CHANNEL ENTERTAINMENT UK         /s/ MILES WILKIN
(THEATRICAL PRODUCTIONS) LIMITED
                                   )
(FORMERLY DAVID IAN PRODUCTIONS
by its duly authorised officer     )

Director
In the presence of

Witness: [ILLEGIBLE]

Occupation: PA

Address: 39 Heathfield Road, Kaston Village BR26B6

EXECUTED as a DEED by   )
DAVID IAN LANE          )
in the presence of:     )                       /s/ DAVID IAN LANE

Witness: A S FAIRHALL

Address: 5 Ospringe Street, Faversham, Kent ME138TJ

Occupation: PA

<PAGE>

[CLEAR CHANNEL ENTERTAINMENT LOGO]

July 1, 2005

Mr. David Ian Lane
12 Little Plucketts Way
Buckhurst Hill
Essex
IG9 5QU

This will confirm the second AMENDMENT made this 1st day of July 2005 to the
SERVICE AGREEMENT made 5th day of October 2000 and amended by DEED the 12th day
of January 2005.

BETWEEN:

                  (1) CLEARCHANNEL ENTERTAINMENT UK (THEATRICAL PRODUCTIONS)
                  LIMITED (formerly DAVID IAN PRODUCTIONS LIMITED) (Company No:
                  4018696) a company registered in England, whose registered
                  office is 1 Cluny Mews, London SW5 9EG ("the Company"); and

                  (2) DAVID IAN LANE of 12 Little Plucketts Way, Buckhurst Hill,
                  Essex IG9 5QU ("the Executive").

WHEREAS the Board of Directors of the Company ("the Board") has approved the
terms of this Agreement under which the Executive is to be employed.

IT IS HEREBY AGREED as follows:

      1.    In Clause 1 there shall be substituted for the words "sole CEO of
            the Clear Channel Entertainment Theatre., UK and International
            Division" the words "CEO of the Clear Channel Entertainment
            Theatre., UK and International Division and Global Chairman of
            Theatre".

      2.    Clause 5.3 shall be deleted and substituted with the following:

            "In 2005, the Executive will be entitled to a further bonus in each
            year during the continuation of the Agreement calculated in
            accordance with CCE formula at Appendix 1 of the Deed. For the
            purposes of this bonus calculation, the figure of Pound Sterling
            140,000 shall be used as the benchmark figure at which the employee
            achieves 15% EBITDA growth and the remainder of the table shall be
            calculated accordingly. For calendar year 2006 and for the
            continuation of the Agreement, the Executive will be entitled to a
            further bonus in accordance with CCE formula at Appendix 2 of the
            Deed. For the purposes of this bonus calculation, the figure of
            Pound Sterling 175,000 shall be used as the benchmark figure at
            which the employee achieves 15% EBITDA growth and the remainder of
            the table shall be calculated accordingly."

Clear Channel Entertainment (713) 693-8600 Tel - (713) 693-8672 Fax

    2000 West Loop South - Suite 1300 - Houston, TX 77027 - www.clearchannel.com
<PAGE>

Mr. David Ian Lane
Second Amendment
July 1, 2005
Page 2

      3.    Appendix 1 shall be deleted and substituted with Appendix 1 herein.

      4.    A new clause 5.4 shall be inserted as follows:

            "The Executive will be entitled to a further bonus of Pound
            Sterling 25,000 if the actual EBITDA results for North American
            Theatrical exceeds the June 2005 forecasted EBITDA."

      5.    All other terms and conditions of the Service Agreement remain in
            full force and effect.

ATTESTATIONS

EXECUTED as a DEED by          )
MILES WILKIN                   )        /s/ MILES WILKIN
for and on behalf of           )
CLEAR CHANNEL ENTERTAINMENT UK
LIMITED
By its duly authorized officer and director

in the Presence of

Witness:

Occupation:

Address:

EXECUTED as a DEED by          )
DAVID IAN LANE                 )
in the presence of:            )        /s/ DAVID IAN LANE

Witness: A S FAIRHALL

Address: 5 Ospringe Street, Faversham, Kent ME138TJ

Occupation: PA