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Website: http://www.clearchannel.com Clear Channel Communications is the nation's leading operator of radio stations and billboards nationwide. As of December 31, 2007, Clear Channel owned 717 core radio stations, 288 non-core radio stations which are being marketed for sale and a leading national radio network operating in the United States. Clear Channel Outdoor is the oldest provider of billboard advertising in the world including billboards, posters, street displays, Times Square ad spectaculars, mall displays, taxi ads and mobile ads. Clear Channel Outdoor was spun off as a public company in 2005 (Symbol: CCO). The company reported revenues of $6.8 billion in 2007 and net income of $938.5 million. Clear Channel was supposed to be acquired this year by a group of private equity firms but due to credit problems this deal may not go through. On March 14, 2008, the Company completed the sale of its Television Group to an affiliate of Providence Equity Partners Inc. for $1.0 billion. Clear Channel has also plans to sell 288 non-core radio stations this year. History In 1972, Lowry Mays and Red McCombs form San Antonio Broadcasting Company to acquire KEEZ-FM (now KAJA-FM) in San Antonio, TX for $125,000. In 1975, it acquired WOAI-AM. This was the Company's first "Clear Channel" radio station, which means it was designated with its own frequency nationwide. The company had an IPO in 1984. It entered the television business in 1988 with the acquisition of WPMI-TV, Channel 15 in Mobile, Alabama / Pensacola, Florida. The company would grow quickly through more acquisitions of TV and radio stations. In 2000, it acquired SFX Entertainment, Inc., one of the world's largest promoters, producers and presenters of live entertainment events. Also acquired outdoor assets of Donrey Media, Taxi Tops and Ackerley Media increasing the outdoor division's business and products. In 2005, the company offers 10% of Clear Channel Outdoor in an IPO and spins-off Clear Channel Entertainment to shareholders. Benefits Clear Channel offers several tiers for medical plan, dental, vision, short-term disability, long-term disability, life with the option to buy up additional coverage for self and family members. There is also a flex spending account under health and welfare plans and an employee assistance program. It also offers 401K with a company match and employee stock purchase plan. Paid vacation and sick time also available. Updated May 9, 2008 |