The History of Clear Channel Communcations

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This page will detail some information on the history of Clear Channel Communcations

History

1972
Lowry Mays and Red McCombs form San Antonio Broadcasting Company to acquire KEEZ-FM (now KAJA-FM) in San Antonio, Texas for $125,000.

1975
Acquired WOAI-AM. This was the Company's first "Clear Channel" radio station, which means it was designated with its own frequency nationwide.

1986
Initial Public Offering at today's split-adjusted price of approximately $0.43 per share.

Acquired Broad Street Communications Corporation increasing the Company's radio assets to six FM and six AM stations in seven markets.

1988
Entered television business with the acquisition of WPMI-TV, Channel 15 in Mobile, Alabama / Pensacola, Florida.

1989
Acquired additional television stations in Tucson, Arizona; Jacksonville, Florida; and Tulsa, Oklahoma.

Created a sports division, Clear Channel Sports, which owns the radio rights to broadcast certain NCAA sports events.

1990
A fifth television station was added with the acquisition of KSAS-TV in Wichita, Kansas.

1991
Acquired the 78-station affiliate Kentucky Network, a news, sports and information network servicing radio stations throughout Kentucky.

1992
Federal Communications Commission passes duopoly rules allowing for ownership of two FM and two AM radio stations in a market.

Acquired WPTY-TV, a FOX television affiliate in Memphis, Tennessee.

Acquired radio stations in New Haven, Connecticut; Wichita, Kansas; Richmond, Virginia; and Tampa, Florida.

1993
Acquired radio stations in San Antonio, Texas; Austin, Texas; Richmond, Virginia; and Oklahoma City, Oklahoma.

Acquired television stations in Memphis, Tennessee; Minneapolis, Minnesota; and Tulsa, Oklahoma.

1994
Obtained listing of Clear Channel Communications, Inc. Common Stock.

1995
Broadcasting assets totaled 43 radio stations and 16 television stations in 32 markets.

The Wall Street Journal named Clear Channel Communications the eighth best performing stock over the previous ten years.

Acquired radio stations in Houston, Texas and television stations in Harrisburg, Pennsylvania and Jacksonville, Florida.

Acquired a 50% interest in Australian Radio Network Pty Ltd., the second largest radio group in Australia.

1996
Telecommunications Act of 1996 passed by Congress.

Acquired 49 radio stations in 20 markets.

Acquired a 33.3% interest in the largest radio group in New Zealand.

1997
Added to the widely followed S&P 500 Index in recognition of the Company's industry leadership.

Emerged as a leader in the outdoor advertising industry with acquisition of Eller Media Company and announcement of acquisitions of Universal Outdoor and More Group Plc.

Continued expansion of radio division adding 70 stations, bringing the total number of stations owned or programmed to 173; most notable was the acquisition of 43 stations from Paxson Communications Corporation.

1998
Announced acquisition of Jacor Communications substantially enhancing the Company's radio presence.

Continued expansion of radio division by adding 38 stations, brining the total number of stations owned or programmed to 204.

Completed acquisition of the More Group Plc, an outdoor advertising company with presence in 25 countries around the world.

Completed acquisition of Universal Outdoor and its integration into the Company's outdoor advertising division.

Acquired a 40% interest in Grupo Acir, the largest operator of radio stations in Mexco.

1999
The Wall Street Journal ranked Clear Channel as the fifth best-performing stock of the nineties.

Completed the Jacor acquisition bringing the total number of radio stations owned or programmed to 625.

Announced acquisition of AMFM, Inc. creating a national radio platform.

Acquired Dauphin, a European outdoor advertising company.

2000
Completed acquisition of AMFM, Inc.

Acquired SFX Entertainment, Inc., one of the world's largest diversified promoters, producers and presenters of live entertainment events.

Acquired outdoor assets of Donrey Media, Taxi Tops and Ackerley Media increasing the outdoor division's business and products.

Continued expansion in radio and outdoor, bringing the total number of worldwide radio stations owned or programmed to 1,376 and total outdoor advertising displays to approximately 700,000.

2001
Radio Division reorganizes management structure by geographic regions in the US.

Collectively, Clear Channel divisions are now operating in 65 countries worldwide.

Entertainment produced and marketed the three top grossing concert tours in 2001.

Other history dates in Clear Channel History:

*January 1997
Colfax Broadcasting is absorbed Chancellor Broadcasting

October 1997:
Chancellor Broadcasting then merged with Evergreen Media and became Chancellor Media, Inc.

*August 1998
There is an announcement of a merger between Chancellor Media and Capstar

*March 1999
Capstar officially joins Chancellor Media with approval by FCC

* July 1999:
Chancellor Media becomes AMFM, Inc.

*October 4, 1999
An announcment is made that Clear Channel will acquire AMFM, Inc.

*March 13, 2000
AMFM spins off 3 Grand Rapids FM stations (WTRV 100.5, WGRD 97.9, WLHT 95.7) to Regent Communications in order to meet federal requirements

*July 18, 2000
THe merger of AMFM, Inc and Clear Channel is approved

*August 30, 2000
The merger between Clear Channel & AMFM, Inc. merger is completed

*April 4, 2001
The live webcasting of all Clear Channel stations dropped due to concerns over legal and financial issues

Clear Channel made radio history in the year 2000, collecting strategic acquisitions and completing mergers designed to provide the company with a unique, unduplicated collection of assets that cannot be reproduced at any price. In late August Clear Channel announced the long anticipated merger with AMFM Radio, Inc. The largest radio merger in history was completed on August 30th, nearly doubling the Clear Channel radio station portfolio. Clear Channel became the first�and only�Radio Company to own more than 900 radio stations. AMFM brought strong radio stations and a large market presence to the Clear Channel table. In addition, Katz Media joined the Clear Channel family with the AMFM merger, along with Chancellor Marketing. Just prior to the AMFM closing, Clear Channel acquired SFX Entertainment, the world�s largest promoter and producer of live entertainment events, including concerts, theatre and sporting events. The entertainment giant brought 120 live entertainment venues in 31 of the Top 50 markets to the Clear Channel party, including 16 owned and operated amphitheaters in the top 10 markets. The opportunities for synergies among all these Clear Channel divisions are explosive�and are in the very early innings.
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1972	Lowry Mays and Red McCombs form San Antonio Broadcasting Company to acquire KEEZ-FM (now KAJA-FM) in San Antonio, Texas for $125,000.
1975	Acquired WOAI-AM. This was the Company's first "Clear Channel" radio station, which means it was designated with its own frequency nationwide.
1986	Initial Public Offering at today's split-adjusted price of approximately $0.43 per share.
	Acquired Broad Street Communications Corporation increasing the Company's radio assets to six FM and six AM stations in seven markets.
1988	Entered television business with the acquisition of WPMI-TV, Channel 15 in Mobile, Alabama / Pensacola, Florida.
1989	Acquired additional television stations in Tucson, Arizona; Jacksonville, Florida; and Tulsa, Oklahoma.
	Created a sports division, Clear Channel Sports, which owns the radio rights to broadcast certain NCAA sports events.
1990	A fifth television station was added with the acquisition of KSAS-TV in Wichita, Kansas.
1991	Acquired the 78-station affiliate Kentucky Network, a news, sports and information network servicing radio stations throughout Kentucky.
1992	Federal Communications Commission passes duopoly rules allowing for ownership of two FM and two AM radio stations in a market.
	Acquired WPTY-TV, a FOX television affiliate in Memphis, Tennessee.
	Acquired radio stations in New Haven, Connecticut; Wichita, Kansas; Richmond, Virginia; and Tampa, Florida.
1993	Acquired radio stations in San Antonio, Texas; Austin, Texas; Richmond, Virginia; and Oklahoma City, Oklahoma.
	Acquired television stations in Memphis, Tennessee; Minneapolis, Minnesota; and Tulsa, Oklahoma.
1994	Obtained listing of Clear Channel Communications, Inc. Common Stock.
1995	Broadcasting assets totaled 43 radio stations and 16 television stations in 32 markets.
	The Wall Street Journal named Clear Channel Communications the eighth best performing stock over the previous ten years.
	Acquired radio stations in Houston, Texas and television stations in Harrisburg, Pennsylvania and Jacksonville, Florida.
	Acquired a 50% interest in Australian Radio Network Pty Ltd., the second largest radio group in Australia.
1996	Telecommunications Act of 1996 passed by Congress.
	Acquired 49 radio stations in 20 markets.
	Acquired a 33.3% interest in the largest radio group in New Zealand.
1997	Added to the widely followed S&P 500 Index in recognition of the Company's industry leadership.
	Emerged as a leader in the outdoor advertising industry with acquisition of Eller Media Company and announcement of acquisitions of Universal Outdoor and More Group Plc.
	Continued expansion of radio division adding 70 stations, bringing the total number of stations owned or programmed to 173; most notable was the acquisition of 43 stations from Paxson Communications Corporation.
1998	Announced acquisition of Jacor Communications substantially enhancing the Company's radio presence.
	Continued expansion of radio division by adding 38 stations, brining the total number of stations owned or programmed to 204.
	Completed acquisition of the More Group Plc, an outdoor advertising company with presence in 25 countries around the world.
	Completed acquisition of Universal Outdoor and its integration into the Company's outdoor advertising division.
	Acquired a 40% interest in Grupo Acir, the largest operator of radio stations in Mexco.
1999	The Wall Street Journal ranked Clear Channel as the fifth best-performing stock of the nineties.
	Completed the Jacor acquisition bringing the total number of radio stations owned or programmed to 625.
	Announced acquisition of AMFM, Inc. creating a national radio platform.
	Acquired Dauphin, a European outdoor advertising company.
2000	Completed acquisition of AMFM, Inc.
	Acquired SFX Entertainment, Inc., one of the world's largest diversified promoters, producers and presenters of live entertainment events.
	Acquired outdoor assets of Donrey Media, Taxi Tops and Ackerley Media increasing the outdoor division's business and products.
	Continued expansion in radio and outdoor, bringing the total number of worldwide radio stations owned or programmed to 1,376 and total outdoor advertising displays to approximately 700,000.
2001	Radio Division reorganizes management structure by geographic regions in the US.
	Collectively, Clear Channel divisions are now operating in 65 countries worldwide.
	Entertainment produced and marketed the three top grossing concert tours in 2001.