Company Overview

If you've got a problem with the media, talk to Clear Channel Communications, because they sure own a lot of it. Incorporated in 1974, Clear Channel is now the largest owner of radio stations in the U.S., as well as one of the largest outdoor advertising companies. The company owns or operates 1,150 radio stations and 42 television stations in the U.S. In addition, it has equity interest in 240 radio stations internationally. Clear Channel also operates more than 787,000 outdoor advertising displays, including billboards, street furniture, and transit panels around the world. Faced with declining revenues, Clear Channel announced plans in November 2006 to sell 448 of its radio stations, all located outside the top 100 U.S. media markets, as well as all of the company’s television stations. These properties contributed less than 10 percent of the company’s revenues in 2005. In addition, the company has been laying off radio station staff across the country.