If you're trying to compile ices and get this error:

checking for pkg-config… /usr/bin/pkg-config
configure: /usr/bin/pkg-config couldn't find libshout. Try adjusting PKG_CONFIG_PATH.
checking for shout-config… no
configure: error: Could not find a usable libshout

And you swear you've already installed libshout and libshout-devel, then you need to install libtheora and libtheora-devel. Yes, the error message is misleading.