<PAGE>   1
                                                                   EXHIBIT 4.1


================================================================================



                   CAPSTAR RADIO BROADCASTING PARTNERS, INC.,
                                   AS ISSUER,

                               THE PARTIES LISTED
                             ON THE SIGNATURE PAGES
                             HERETO AS GUARANTORS,
                                 AS GUARANTORS,

                                      AND

                 IBJ SCHRODER BANK & TRUST COMPANY, AS TRUSTEE


                          -------------------------

                                AMENDMENT NO. 11

                          DATED AS OF AUGUST 16, 1997

                                     TO THE

                                   INDENTURE

                           DATED AS OF APRIL 21, 1995

                          -------------------------

                                  $76,808,000

                 13 1/4% SENIOR SUBORDINATED NOTES DUE 2003

================================================================================

<PAGE>   2

         AMENDMENT NO. 11, dated as of August 16, 1997 ("Amendment No. 11"), to
the INDENTURE, dated as of April 21, 1995, as amended (the "Indenture"), among
CAPSTAR RADIO BROADCASTING PARTNERS, INC., a Delaware corporation, as Issuer
(the "Company"), the parties listed on the signature pages hereto as Guarantors
(each individually, a "Guarantor" and collectively, the "Guarantors"), and IBJ
SCHRODER BANK & TRUST COMPANY, a New York banking corporation, as Trustee (the
"Trustee").

         Each party agrees for the benefit of the other parties and for the
equal and ratable benefit of the Holders of the Company's 13 1/4% Senior
Subordinated Notes due 2003 (the "Notes") to amend, pursuant to Section 8.01(4)
of the Indenture, the Indenture as follows:

         1.      Benchmark Communications Holdings, Inc., a Delaware
corporation ("Benchmark Holdings"), is a wholly- owned subsidiary of the
Company, and is a Restricted Subsidiary acquired or created pursuant to Section
4.14(ii) of the Indenture.  Benchmark Holdings delivers herewith the Guarantee
attached as Exhibit A to this Amendment No. 11 pursuant to the provisions set
forth in Sections 4.14 and 10.04 of the Indenture guaranteeing the obligations
of the Company under the Indenture.  For all purposes of the Indenture,
Benchmark Holdings shall be deemed a party to the Indenture by virtue of its
execution of this Amendment No. 11 and the defined term the "Guarantor"
contained in Article 1.01 of the Indenture shall be deemed to include Benchmark
Holdings.

         2.      Each of Radioco I, Inc., a Maryland corporation ("Radioco I"),
Radioco II, Inc., a Maryland corporation ("Radioco II"), and BC Funds Holdings
Co., Inc., a Maryland corporation ("BC Holdings") (collectively, the "Benchmark
Holding Subsidiaries"), is a wholly-owned subsidiary of Benchmark Holdings and
indirect subsidiary of the Company, and is a Restricted Subsidiary acquired or
created pursuant to Section 4.14(ii) of the Indenture.  Each Benchmark Holding
Subsidiary delivers herewith the Guarantee attached as Exhibit A to this
Amendment No. 11 pursuant to the provisions set forth in Sections 4.14 and
10.04 of the Indenture guaranteeing the obligations of the Company under the
Indenture.  For all purposes of the Indenture, each Benchmark Holdings
Subsidiary shall be deemed a party to the Indenture by virtue of its execution
of this Amendment No. 11 and the defined term the "Guarantor" contained in
Article 1.01 of the Indenture shall be deemed to include each Benchmark Holding
Subsidiary.

         3.      Benchmark Communications Radio Limited Partnership, a Maryland
limited partnership ("Benchmark Communications"), is a Restricted Subsidiary
acquired or created pursuant to Section 4.14(ii) of the Indenture.  Benchmark
Holdings is the general partner and Radioco I and Radioco II are the limited
partners of Benchmark Communications.  Benchmark Communications delivers
herewith the Guarantee attached as Exhibit A to this Amendment No. 11 pursuant
to the provisions set forth in Sections 4.14 and 10.04 of the Indenture
guaranteeing the obligations of the Company under the Indenture.  For all
purposes of the Indenture, Benchmark Communications shall be deemed a party to
the Indenture by virtue of its execution of this Amendment No. 11 and the
defined term the "Guarantor" contained in Article 1.01 of the Indenture shall
be deemed to include Benchmark Communications.

         4.      Benchmark Jackson, L.L.C., a Delaware limited liability
company ("Benchmark Jackson"), is a wholly- owned subsidiary of Benchmark
Communications and an indirect subsidiary of the Company, and is a Restricted
Subsidiary acquired or created pursuant to Section 4.14(ii) of the Indenture.
Benchmark Jackson delivers herewith the Guarantee attached as Exhibit A to this
Amendment No. 11 pursuant to the provisions set forth in Sections 4.14 and
10.04 of the Indenture guaranteeing the obligations of the Company under the
Indenture.  For all purposes of the Indenture, Benchmark Jackson shall be
deemed a party to the Indenture by virtue of its execution of this Amendment
No. 11 and the defined term the "Guarantor" contained in Article 1.01 of the
Indenture shall be deemed to include Benchmark Jackson.



                                     -1-
<PAGE>   3
         5.      Each of Benchmark Radio Acquisition Fund I Limited
Partnership, a Maryland limited partnership ("Fund I"), Benchmark Radio
Acquisition Fund IV Limited Partnership, a Maryland limited partnership ("Fund
IV"), Benchmark Radio Acquisition Fund VII Limited Partnership, a Maryland
limited partnership ("Fund VII"), and  Benchmark Radio Acquisition Fund VIII
Limited Partnership, a Maryland limited partnership ("Fund VIII")
(collectively, the "Benchmark Fund I-IV Subsidiaries"), is a Restricted
Subsidiary acquired or created pursuant to Section 4.14(ii) of the Indenture.
Benchmark Communications is the general partner and BC Holding is the limited
partner of each of the Benchmark Fund I-IV Subsidiaries.  Each Benchmark Fund
I-IV Subsidiary delivers herewith the Guarantee attached as Exhibit A to this
Amendment No. 11 pursuant to the provisions set forth in Sections 4.14 and
10.04 of the Indenture guaranteeing the obligations of the Company under the
Indenture.  For all purposes of the Indenture, each Benchmark Fund I-IV
Subsidiary shall be deemed a party to the Indenture by virtue of its execution
of this Amendment No. 11 and the defined term the "Guarantor" contained in
Article 1.01 of the Indenture shall be deemed to include each Benchmark Fund
I-IV Subsidiary.

         6.      Each of Benchmark Radio Acquisition Fund IX Limited
Partnership, a Maryland limited partnership and Benchmark Radio Acquisition
Fund XI Limited Partnership, a Maryland limited partnership, (collectively, the
"Benchmark Fund IX-XI Subsidiaries"), is a Restricted Subsidiary acquired or
created pursuant to Section 4.14(ii) of the Indenture.  Benchmark
Communications is the general partner and Country Heartlines, Inc., a Delaware
corporation, is the limited partner of each of the Benchmark Fund IX-XI
Subsidiaries.  Each Benchmark Fund IX-XI Subsidiary delivers herewith the
Guarantee attached as Exhibit A to this Amendment No. 11 pursuant to the
provisions set forth in Sections 4.14 and 10.04 of the Indenture guaranteeing
the obligations of the Company under the Indenture.  For all purposes of the
Indenture, each Benchmark Fund IX-XI Subsidiary shall be deemed a party to the
Indenture by virtue of its execution of this Amendment No. 11 and the defined
term the "Guarantor" contained in Article 1.01 of the Indenture shall be deemed
to include each Benchmark Fund IX-XI Subsidiary.

         7.      Each of WDOV License Limited Partnership, a Maryland limited
partnership, WDSD License Limited Partnership, a Maryland limited partnership,
and WSRV License Limited Partnership, a Maryland limited partnership
(collectively, the "Fund I Subsidiaries"), is a Restricted Subsidiary acquired
or created pursuant to Section 4.14(ii) of the Indenture.  Fund I is the
general partner and Benchmark Communications is the limited partner of each of
the Fund I Subsidiaries.  Each Fund I Subsidiary delivers herewith the
Guarantee attached as Exhibit A to this Amendment No. 11 pursuant to the
provisions set forth in Sections 4.14 and 10.04 of the Indenture guaranteeing
the obligations of the Company under the Indenture.  For all purposes of the
Indenture, each Fund I Subsidiary shall be deemed a party to the Indenture by
virtue of its execution of this Amendment No. 11 and the defined term the
"Guarantor" contained in Article 1.01 of the Indenture shall be deemed to
include each Fund I Subsidiary.

         8.      Each of Benchmark Radio Acquisition Fund V Limited
Partnership, a Maryland limited partnership ("Fund V"), WDOV License Limited
Partnership, a Maryland limited partnership, WDSD License Limited Partnership,
a Maryland limited partnership, and WSRV License Limited Partnership, a
Maryland limited partnership  (collectively, the "Fund IV Subsidiaries"), is a
Restricted Subsidiary acquired or created pursuant to Section 4.14(ii) of the
Indenture.  Fund IV is the general partner and Benchmark Communications is the
limited partner of each of the Fund IV Subsidiaries.  Each Fund IV Subsidiary
delivers herewith the Guarantee attached as Exhibit A to this Amendment No. 11
pursuant to the provisions set forth in Sections 4.14 and 10.04 of the
Indenture guaranteeing the obligations of the Company under the Indenture.  For
all purposes of the Indenture, each Fund IV Subsidiary shall be deemed a party
to the Indenture by virtue of its execution of this Amendment No. 11 and the
defined term the "Guarantor" contained in Article 1.01 of the Indenture shall
be deemed to include each Fund IV Subsidiary.





                                      -2-
<PAGE>   4
         9.      Each of WCOS(AM) License Limited Partnership, a Maryland
limited partnership, WCOS-FM License Limited Partnership, a Maryland limited
partnership, WHKZ License Limited Partnership, a Maryland limited partnership,
and WVOC License Limited Partnership, a Maryland limited partnership
(collectively, the "Fund V Subsidiaries"), is a Restricted Subsidiary acquired
or created pursuant to Section 4.14(ii) of the Indenture.  Fund V is the
general partner and Benchmark Communications is the limited partner of each of
the Fund V Subsidiaries.  Each Fund V Subsidiary delivers herewith the
Guarantee attached as Exhibit A to this Amendment No. 11 pursuant to the
provisions set forth in Sections 4.14 and 10.04 of the Indenture guaranteeing
the obligations of the Company under the Indenture.  For all purposes of the
Indenture, each FundV Subsidiary shall be deemed a party to the Indenture by
virtue of its execution of this Amendment No. 11 and the defined term the
"Guarantor" contained in Article 1.01 of the Indenture shall be deemed to
include each Fund V Subsidiary.

         10.     Congaree Broadcasters, Inc., a South Carolina corporation
("Congaree"), is a wholly-owned subsidiary of Fund V and an indirect subsidiary
of the Company, and is a Restricted Subsidiary acquired or created pursuant to
Section 4.14(ii) of the Indenture.  Congaree delivers herewith the Guarantee
attached as Exhibit A to this Amendment No. 11 pursuant to the provisions set
forth in Sections 4.14 and 10.04 of the Indenture guaranteeing the obligations
of the Company under the Indenture.  For all purposes of the Indenture,
Congaree shall be deemed a party to the Indenture by virtue of its execution of
this Amendment No. 11 and the defined term the "Guarantor" contained in Article
1.01 of the Indenture shall be deemed to include Congaree.

         11.     WJMZ License Limited Partnership, a Maryland limited
partnership (the "Fund VII Subsidiary"), is a Restricted Subsidiary acquired or
created pursuant to Section 4.14(ii) of the Indenture.  Fund VII is the general
partner and Benchmark Communications is the limited partner of the Fund VII
Subsidiary.  The Fund I Subsidiary delivers herewith the Guarantee attached as
Exhibit A to this Amendment No. 11 pursuant to the provisions set forth in
Sections 4.14 and 10.04 of the Indenture guaranteeing the obligations of the
Company under the Indenture.  For all purposes of the Indenture, the Fund I
Subsidiary shall be deemed a party to the Indenture by virtue of their
execution of its Amendment No. 11 and the defined term the "Guarantor"
contained in Article 1.01 of the Indenture shall be deemed to include the Fund
I Subsidiary.

         12.     Each of Benchmark Greenville, L.L.C., a Delaware limited
liability company ("Benchmark Greenville") and Country Heartlines, a Delaware
corporation (collectively, the "Fund VII Direct  Subsidiaries"), is a
wholly-owned subsidiary of Fund VII and indirect subsidiary of the Company, and
is a Restricted Subsidiary acquired or created pursuant to Section 4.14(ii) of
the Indenture.  Each Fund VII Direct Subsidiary delivers herewith the Guarantee
attached as Exhibit A to this Amendment No. 11 pursuant to the provisions set
forth in Sections 4.14 and 10.04 of the Indenture guaranteeing the obligations
of the Company under the Indenture.  For all purposes of the Indenture, each
Fund VII Direct Subsidiary shall be deemed a party to the Indenture by virtue
of its execution of this Amendment No. 11 and the defined term the "Guarantor"
contained in Article 1.01 of the Indenture shall be deemed to include each Fund
VII Direct Subsidiary.

         13.     Each of WESC(AM) License Limited Partnership, a Maryland
limited partnership, WESC-FM License Limited Partnership, a Maryland limited
partnership, and WFNQ License Limited Partnership, a Maryland limited
partnership (collectively, the "Benchmark Greenville Subsidiaries"), is a
Restricted Subsidiary acquired or created pursuant to Section 4.14(ii) of the
Indenture.  Benchmark Greenville is the general partner and Benchmark
Communications is the limited partner of each of the Benchmark Greenville
Subsidiaries.  Each Benchmark Greenville Subsidiary delivers herewith the
Guarantee attached as Exhibit A to this Amendment No. 11 pursuant to the
provisions set forth in Sections 4.14 and 10.04 of the Indenture guaranteeing
the obligations of the Company under the Indenture.  For all purposes of the
Indenture, each Benchmark Greenville Subsidiary shall be deemed a party to the
Indenture by virtue of its execution of this





                                      -3-
<PAGE>   5
Amendment No. 11 and the defined term the "Guarantor" contained in Article 1.01
of the Indenture shall be deemed to include each Benchmark Greenville
Subsidiary.

         14.     Each of WUSQ License Limited Partnership, a Maryland limited
partnership, WNTW License Limited Partnership, a Maryland limited partnership,
WYYD License Limited Partnership, a Maryland limited partnership, WROV(AM)
License Limited Partnership, a Maryland limited partnership, and WROV-FM
License Limited Partnership, a Maryland limited partnership  (collectively, the
"Fund VIII Subsidiaries"), is a Restricted Subsidiary acquired or created
pursuant to Section 4.14(ii) of the Indenture.  Fund VIII is the general
partner and Benchmark Communications is the limited partner of each of the Fund
I Subsidiaries.  Each Fund I Subsidiary delivers herewith the Guarantee
attached as Exhibit A to this Amendment No. 11 pursuant to the provisions set
forth in Sections 4.14 and 10.04 of the Indenture guaranteeing the obligations
of the Company under the Indenture.  For all purposes of the Indenture, each
Fund VIII Subsidiary shall be deemed a party to the Indenture by virtue of its
execution of this Amendment No. 11 and the defined term the "Guarantor"
contained in Article 1.01 of the Indenture shall be deemed to include each Fund
VIII Subsidiary.

         15.     Benchmark Radio Acquisition Fund VI LC, a Maryland limited
liability company ("LC"), is a wholly-owned subsidiary of  Fund VIII and
indirect subsidiary of the Company, and is a Restricted Subsidiary acquired or
created pursuant to Section 4.14(ii) of the Indenture.  LC delivers herewith
the Guarantee attached as Exhibit A to this Amendment No. 11 pursuant to the
provisions set forth in Sections 4.14 and 10.04 of the Indenture guaranteeing
the obligations of the Company under the Indenture.  For all purposes of the
Indenture, LC shall be deemed a party to the Indenture by virtue of its
execution of this Amendment No. 11 and the defined term the "Guarantor"
contained in Article 1.01 of the Indenture shall be deemed to include LC.

         16.     This Amendment No. 11 supplements the Indenture and shall be a
part and subject to all the terms thereof.  Except as supplemented hereby, the
Indenture and the Securities issued thereunder shall continue in full force and
effect.

         17.     This Amendment No. 11 may be executed in counterparts, each of
which shall be deemed an original, but all of which shall together constitute
one and the same instrument.

         18.     THIS AMENDMENT NO. 11 SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO
THE CONFLICT OF LAWS PRINCIPLES THEREOF THAT WOULD RESULT IN THE APPLICATION OF
THE LAWS OF ANOTHER JURISDICTION).

         19.     The Trustee shall not be responsible for any recital herein as
such recitals shall be taken as statements of the Company, or the validity of
the execution by the Guarantor of the Amendment No. 11.  The Trustee makes no
representation as to the validity or sufficiency of this Amendment No. 11.





                                      -4-
<PAGE>   6
         IN WITNESS WHEREOF, the parties have caused this Amendment  No. 11 to
the Indenture to be duly executed and attested as of the date and year first
written above.


                                    CAPSTAR RADIO BROADCASTING PARTNERS, INC.


                                    By:     /s/ WILLIAM S. BANOSWKY, JR.
                                            ---------------------------------
                                            William S. Banowsky, Jr.
                                            Executive Vice President
                                    
ATTEST:                             
                                    
                                    
/s/ KATHY ARCHER                                    
---------------------------------
Kathy Archer                        
Assistant Secretary                 
                                    
                                    GUARANTORS:
                                    
                                    ATLANTIC STAR COMMUNICATIONS, INC.
                                    CAPSTAR ACQUISITION COMPANY, INC.
                                    COMMODORE MEDIA OF DELAWARE, INC
                                    COMMODORE MEDIA OF PENNSYLVANIA, INC.
                                    COMMODORE MEDIA FLORIDA, INC.
                                    COMMODORE MEDIA OF KENTUCKY, INC.
                                    COMMODORE MEDIA OF NORWALK, INC.
                                    COMMODORE MEDIA OF WESTCHESTER, INC.
                                    DANBURY BROADCASTING, INC
                                    PACIFIC STAR COMMUNICATIONS, INC.
                                    CENTRAL STAR COMMUNICATIONS, INC.
                                    
                                    
                                    
                                    By:     /s/ WILLIAM S. BANOWSKY, JR.
                                            ---------------------------------
                                            William S. Banowsky, Jr.
                                            Vice President
                                    
ATTEST:                             
                                    
                                    
/s/ KATHY ARCHER                                    
---------------------------------
Kathy Archer                        
Assistant Secretary                 
                                    
                                    




<PAGE>   7

                                    SOUTHERN STAR COMMUNICATIONS, INC.
                                    ATLANTIC CITY BROADCASTING CORP.
                                    O.C.C., INC.
                                    BREADBASKET BROADCASTING CORPORATION
                                    SOUTHEAST RADIO HOLDING CORP.
                                    HOUNDSTOOTH BROADCASTING CORPORATION
                                    SNG HOLDINGS, INC.
                                    OSBORN ENTERTAINMENT ENTERPRISES
                                      CORPORATION
                                    ORANGE COMMUNICATIONS, INC.
                                    MOUNTAIN RADIO CORPORATION
                                    LADNER COMMUNICATIONS HOLDING CORP.
                                    RKZ TELEVISION, INC.
                                    YELLOW BRICK RADIO CORPORATION
                                    ASHEVILLE BROADCASTING CORP.
                                    CORKSCREW BROADCASTING CORPORATION
                                    DAYTONA BEACH BROADCASTING CORP.
                                    RAINBOW BROADCASTING CORPORATION
                                    GREAT AMERICAN EAST, INC.
                                    NELSON BROADCASTING CORPORATION
                                    SHORT BROADCASTING CORPORATION
                                    JAMBOREE IN THE HILLS, INC
                                    BEATRICE BROADCASTING CORP.
                                    CURREY BROADCASTING CORPORATION
                                    OSBORN SOUND AND COMMUNICATIONS CORP.
                                    WAITE BROADCASTING CORP.
                                    AMERON BROADCASTING CORPORATION
                                    WNOK ACQUISITION COMPANY, INC.
                                    DIXIE BROADCASTING, INC.
                                    RADIO WBHP, INC.
                                    
                                    
                                    By:     /s/ WILLIAM S. BANOWSKY, JR.
                                            ---------------------------------
                                            William S. Banowsky, Jr.
                                            Vice President
ATTEST:                             
                                    

/s/ KATHY ARCHER
---------------------------------
Kathy Archer                        
Assistant Secretary                 
                                    
                                    
<PAGE>   8
                                    
                                    MOUNTAIN LAKES BROADCASTING, L.L.C.
                                    
                                    By:     Dixie Broadcasting, Inc.,
                                            its Member
                                    
                                    
                                            By: /s/ WILLIAM S. BRONOWSKY, JR.
                                                ----------------------------
                                                William S. Banowsky, Jr.
                                                Vice President
ATTEST:                             
                                    
/s/ KATHY ARCHER                                    
----------------------------
Kathy Archer                        
Assistant Secretary                 
                                    
                                    By:     Radio WBHP, Inc.,
                                            its Member
                                    
                                    
                                            By: /s/ WILLIAM S. BRONOWSKY, JR.
                                                ----------------------------
                                                William S. Banowsky, Jr.
                                                Vice President
ATTEST:                             
                                    
                                    
/s/ KATHY ARCHER                                    
----------------------------
Kathy Archer                        
Assistant Secretary                 
                                    
                                    
                                    WILMINGTON WJBR-FM, L.L.C.
                                    
                                    By:     Commodore Media of Delaware, Inc.,
                                            its Manager
                                    
                                    
                                            By: /s/ WILLIAM S. BRONOWSKY, JR.
                                                ----------------------------
                                                William S. Banowsky, Jr.
                                                Vice President
ATTEST:                             
                                    

/s/ KATHY ARCHER
----------------------------
Kathy Archer                        
Assistant Secretary                 
                                    
                                    
<PAGE>   9
                                    
                                    MUSIC HALL CLUB, INC.
                                    
                                    
                                    By:     /s/ LARRY ANDERSON
                                            ----------------------------------
                                            Larry Anderson
                                            President
ATTEST:                             
                                    
                                    
/s/ NANCY ANDERSON                                    
----------------------------
Nancy Anderson                      
Secretary and Treasurer             
                                    

<PAGE>   10

                          GULFSTAR COMMUNICATIONS, INC.
                          GULFSTAR COMMUNICATIONS HOLDINGS, INC.               
                          GULFSTAR COMMUNICATIONS MANAGEMENT, INC.             
                          GULFSTAR COMMUNICATIONS BEAUMONT, INC.               
                          GULFSTAR COMMUNICATIONS LUFKIN, INC.                 
                          GULFSTAR COMMUNICATIONS PORT ARTHUR, INC.            
                          GULFSTAR COMMUNICATIONS TEXARKANA, INC.              
                          GULFSTAR COMMUNICATIONS TYLER, INC.                  
                          GULFSTAR COMMUNICATIONS VICTORIA, INC.               
                          GULFSTAR COMMUNICATIONS BATON ROUGE, INC.            
                          BATON ROUGE BROADCASTING COMPANY, INC.               
                          GULFSTAR COMMUNICATIONS CORPUS CHRISTI, INC.         
                          GULFSTAR COMMUNICATIONS WACO, INC.                   
                          GULFSTAR COMMUNICATIONS ARKANSAS, INC.               
                          GULFSTAR COMMUNICATIONS NEW MEXICO, INC.             
                          GULFSTAR COMMUNICATIONS KILLEEN, INC.                
                          GULFSTAR COMMUNICATIONS LUBBOCK, INC.                
                          SONANCE WACO OPERATING COMPANY, INC.                 
                          BRYAN BROADCASTING OPERATING COMPANY, INC.           
                          GULFSTAR COMMUNICATIONS OKLAHOMA, INC.               
                          GULFSTAR COMMUNICATIONS BEAUMONT LICENSEE,   INC.    
                          GULFSTAR COMMUNICATIONS LUFKIN LICENSEE, INC.        
                          GULFSTAR COMMUNICATIONS PORT ARTHUR LICENSEE, INC.   
                          GULFSTAR COMMUNICATIONS TEXARKANA LICENSEE, INC.     
                          GULFSTAR COMMUNICATIONS TYLER LICENSEE, INC.         
                          GULFSTAR COMMUNICATIONS VICTORIA LICENSEE, INC.      
                          GULFSTAR COMMUNICATIONS BATON ROUGE LICENSEE, INC.   
                          GULFSTAR COMMUNICATIONS CORPUS CHRISTI LICENSEE, INC.
                          GULFSTAR COMMUNICATIONS WACO LICENSEE, INC.          
                          GULFSTAR COMMUNICATIONS ARKANSAS LICENSEE, INC.      
                          GULFSTAR COMMUNICATIONS NEW MEXICO LICENSEE          
                          GULFSTAR COMMUNICATIONS KILLEEN LICENSEE, INC.       
                          GULFSTAR COMMUNICATIONS LUBBOCK LICENSEE,  INC.      
                          GULFSTAR COMMUNICATIONS OKLAHOMA LICENSEE, INC.      
                          

<PAGE>   11

                          SONANCE WACO LICENSE SUBSIDIARY, INC.
                          BRYAN BROADCASTING LICENSE SUBSIDIARY, INC.
        



                                    By:     /s/ WILLIAM S. BANOWSKY, JR.
                                            ----------------------------------
                                            William S. Banowsky, Jr.
                                            Vice President



ATTEST


/s/ KATHY ARCHER
---------------------------
Kathy Archer
Assistant Secretary


<PAGE>   12

                                    BENCHMARK COMMUNICATIONS HOLDINGS, INC.
                                    RADIOCO I, INC.
                                    RADIOCO II, INC.
                                    BC FUNDS HOLDINGS, INC.
                                    CONGAREE BROADCASTERS, INC.
                                    COUNTRY HEARTLINES, INC.
                                    
                                    
                                    
                                    By:     /s/ WILLIAM S. BANOWSKY, JR.
                                            -------------------------------
                                    Name:   William S. Banowsky, Jr.
                                    Title:  Executive Vice President
                                    
                                    
                                    
ATTEST                              
                                    
                                    
/s/ KATHY ARCHER                                    
-------------------------------
Kathy Archer                        
Assistant Secretary                 
                                    
                                    
<PAGE>   13
                                    
                                    BENCHMARK COMMUNICATIONS RADIO LIMITED
                                             PARTNERSHIP
                                    
                                    By: Benchmark Communications Holdings, Inc.,
                                        its General Partner
                                    
                                    
                                    
                                    By:     /s/ WILLIAM S. BANOWSKY, JR.
                                            -------------------------------
                                    Name:   William S. Banowsky, Jr.
                                    Title:  Executive Vice President
                                    
                                    
                                    
ATTEST                              
                                    
                                    
                                    
/S/ KATHY ARCHER                                    
-------------------------------
Kathy Archer                        
Assistant Secretary                 
                                    
                                    
                                    BENCHMARK JACKSON, L.L.C.
                                    
                                    By: Benchmark Communications Radio Limited 
                                        Partnership, its Member
                                        
                                    By: Benchmark Communications Holdings, Inc.,
                                        its General Partner
                                        
                                    
                                    
                                    By:     /s/ WILLIAM S. BANOWSKY, JR.
                                            -------------------------------
                                    Name:   William S. Banowsky, Jr.
                                    Title:  Executive Vice President
                                    
                                    
                                    


ATTEST



/s/ KATHY ARCHER
-------------------------------
Kathy Archer
Assistant Secretary
<PAGE>   14


                            BENCHMARK RADIO ACQUISITION FUND I LIMITED
                                    PARTNERSHIP
                            BENCHMARK RADIO ACQUISITION FUND IV LIMITED
                                    PARTNERSHIP
                            BENCHMARK RADIO ACQUISITION FUND VII LIMITED
                                    PARTNERSHIP
                            BENCHMARK RADIO ACQUISITION FUND VIII LIMITED
                                    PARTNERSHIP
                            BENCHMARK RADIO ACQUISITION FUND IX LIMITED
                                    PARTNERSHIP
                            BENCHMARK RADIO ACQUISITION FUND XI LIMITED
                                    PARTNERSHIP
                            
                            By:  Benchmark Communications Radio Limited
                                 Partnership, its General Partner
                            
                            By:  Benchmark Communications Holdings, Inc.
                                 its General Partner
                            
                            
                            By:     /s/ WILLIAM S. BANOWSKY, JR.
                                    ---------------------------------
                            Name:   William S. Banowsky, Jr.
                            Title:  Executive Vice President
                            
                            

ATTEST


/s/ KATHY ARCHER
---------------------------------
Kathy Archer
Assistant Secretary


<PAGE>   15


                                    WDOV LICENSE LIMITED PARTNERSHIP
                                    WDSD LICENSE LIMITED PARTNERSHIP
                                    WSRV LICENSE LIMITED PARTNERSHIP
                                    
                                    By:  Benchmark Radio Acquisition Fund I 
                                         Limited Partnership, its General 
                                         Partner
                                    
                                    By:  Benchmark Communications Radio Limited
                                         Partnership, its General Partner
                                    
                                    By:  Benchmark Communications Holding, Inc.,
                                         its General Partner
                                    
                                    
                                    
                                    By:     /s/ WILLIAM S. BANOWSKY, JR.
                                            ---------------------------------
                                    Name:   William S. Banowsky, Jr.
                                    Title:  Executive Vice President
                                    
                                    
                                    
ATTEST                              
                                    
                                    
                                    
/s/ KATHY ARCHER
---------------------------------
Kathy Archer                        
Assistant Secretary                 
                                    
                                    
<PAGE>   16
                                    
                                    
                                    BENCHMARK RADIO ACQUISITION FUND V LIMITED
                                             PARTNERSHIP
                                    WOSC LICENSE LIMITED PARTNERSHIP
                                    WKOC LICENSE LIMITED PARTNERSHIP
                                    WWFG LICENSE LIMITED PARTNERSHIP
                                    
                                    By:  Benchmark Radio Acquisition Fund IV 
                                         Limited Partnership, its General 
                                         Partner
                                    
                                    By:  Benchmark Communications Radio Limited
                                         Partnership, its General Partner
                                    
                                    By:  Benchmark Communications Holdings, 
                                         Inc., its General Partner
                                    
                                    
                                    
                                    By:     /s/ WILLIAM S. BANOWSKY, JR.
                                            ---------------------------------
                                    Name:   William S. Banowsky, Jr.
                                    Title:  Executive Vice President
                                    
                                    
                                    
ATTEST                              
                                    
                                    
                                    
/s/ KATHY ARCHER
---------------------------------
Kathy Archer                        
Assistant Secretary                 
                                    
                                    
<PAGE>   17
                                    
                                    
                             WCOS (AM) LICENSE LIMITED PARTNERSHIP
                             WCOS-FM LICENSE LIMITED PARTNERSHIP
                             WHKZ LICENSE LIMITED PARTNERSHIP
                             WVOC LICENSE LIMITED PARTNERSHIP
                             
                             By: Benchmark Radio Acquisition Fund V Limited 
                                 Partnership, its General Partner
                                 
                             By: Benchmark Radio Acquisition Fund IV Limited 
                                 Partnership, its General Partner
                                 
                             By: Benchmark Communications Radio Limited 
                                 Partnership, its General Partner
                                 
                             By: Benchmark Communications Holdings, Inc.
                                 its General Partner
                                 
                             
                             
                             By:     /s/ WILLIAM S. BANOWSKY, JR.
                                     ------------------------------
                             Name:   William S. Banowsky, Jr.
                             Title:  Executive Vice President
                             
                             
                                    
                                    
ATTEST                              
                                    
                                    
/s/ KATHY ARCHER                                    
------------------------------
Kathy Archer                        
Assistant Secretary                 
                                    
                                    
<PAGE>   18
                                    
                                    
                            WJMZ LICENSE LIMITED PARTNERSHIP
                            
                            By:     Benchmark Radio Acquisition Fund VII 
                                    Limited Partnership, its General Partner
                            
                            By:     Benchmark Communications Radio Limited 
                                    Partnership, its General Partner
                            
                            By:     Benchmark Communications Holdings, Inc.
                                    its General Partner
                            
                            
                            
                            By:     /s/ WILLIAM S. BANOWSKY, JR.
                                    -------------------------------
                            Name:   William S. Banowsky, Jr.
                            Title:  Executive Vice President
                            
                                    
                                    
ATTEST                              
                                    
                                    
                                    
/s/ KATHY ARCHER                                    
-------------------------------
Kathy Archer                        
Assistant Secretary                 
                                    
                                    
<PAGE>   19
                                    
                                    
                                    BENCHMARK GREENVILLE, L.L.C.
                                    
                                    By:     Benchmark Radio Acquisition Fund 
                                            VII Limited Partnership, its Member
                                    
                                    By:     Benchmark Communications Radio 
                                            Limited Partnership, its General 
                                            Partner
                                    
                                    By:     Benchmark Communications Holding, 
                                            Inc., its General Partner
                                    
                                    
                                    
                                    
                                    By:     /s/ WILLIAM S. BANOWSKY, JR.
                                            -------------------------------
                                    Name:   William S. Banowsky, Jr.
                                    Title:  Executive Vice President
                                    
                                    
                                    
ATTEST                              
                                    
                                    
                                    
/s/ KATHY ARCHER                                    
-------------------------------
Kathy Archer                        
Assistant Secretary                 
                                    
                                    
<PAGE>   20
                                    
                                    
                                    WESC(AM) LICENSE LIMITED PARTNERSHIP
                                    WESC-FM LICENSE LIMITED PARTNERSHIP
                                    WFNQ LICENSE LIMITED PARTNERSHIP
                                    
                                    By:     Benchmark Greenville, L.L.C.,
                                            its General Partner
                                    
                                    By:     Benchmark Radio Acquisition Fund 
                                            VII Limited Partnership, its Member
                                    
                                    By:     Benchmark Communications Radio 
                                            Limited Partnership, its General 
                                            Partner
                                    
                                    By:     Benchmark Communications Holdings,
                                            Inc., its General Partner
                                    
                                    
                                    
                                    By:     /s/ WILLIAM S. BANOWSKY, JR.
                                            -------------------------------
                                    Name:   William S. Banowsky, Jr.
                                    Title:  Executive Vice President
                                    
                                    
                                    
ATTEST                              
                                    
                                    
                                    
/s/ KATHY ARCHER                                    
-------------------------------
Kathy Archer                        
Assistant Secretary                 
                                    
                                    
<PAGE>   21
                                    
                                    
                                    WUSQ LICENSE LIMITED PARTNERSHIP
                                    WNTW LICENSE LIMITED PARTNERSHIP
                                    WYYD LICENSE LIMITED PARTNERSHIP
                                    WROV(AM) LICENSE LIMITED PARTNERSHIP
                                    WROV-FM LICENSE LIMITED PARTNERSHIP
                                    
                                    By:     Benchmark Radio Acquisition Fund 
                                            VIII Limited Partnership,
                                            its General Partner
                                    
                                    By:     Benchmark Communications Radio 
                                            Limited Partnership, its General 
                                            Partner
                                    
                                    By:     Benchmark Communications Holdings, 
                                            Inc., its General Partner
                                    
                                    
                                    
                                    By:     /s/ WILLIAM S. BANOWSKY, JR.
                                            -------------------------------
                                    Name:   William S. Banowsky, Jr.
                                    Title:  Executive Vice President
                                    
                                    
                                    
                                    
ATTEST                              
                                    
                                    
                                    
/s/ KATHY ARCHER                                    
-------------------------------
Kathy Archer                        
Assistant Secretary                 
                                    
                                    
<PAGE>   22
                                    
                                    
                           BENCHMARK RADIO ACQUISITION FUND VI LC
                           
                           By:     Benchmark Radio Acquisition Fund VIII 
                                   Limited Partnership, its General Partner
                           
                           By:     Benchmark Communications Radio Limited 
                                   Partnership, its General Partner
                           
                           By:     Benchmark Communications Holdings, Inc.,
                                   its General Partner
                           
                           
                           
                           By:     /s/ WILLIAM S. BANOWSKY, JR.
                                   --------------------------------------
                           Name:   William S. Banowsky, Jr.
                           Title:  Executive Vice President
                           
                                    
                                    
ATTEST                              
                                    
                                    
/s/ KATHY ARCHER                                    
-----------------------
Kathy Archer                        
Assistant Secretary                 
                                    
                                    
<PAGE>   23
                                    
                                            IBJ SCHRODER BANK & TRUST COMPANY,
                                            as Trustee
                                    
                                    
                                            By:
                                               --------------------------------
                                            Name:
                                                 ------------------------------
                                            Title:
                                                  -----------------------------


ATTEST:                             
                                    
                                    
----------------------------------- 
Name:
     ------------------------------
Title:
      -----------------------------