Clear Channel Rocks On

Clear Channel Communications Inc. (NYSE:CCU) reported record second-quarter earnings. According to the company, this was the most successful Q2 in company history, with a 56-percent increase in net revenues and 33-percent increase in after-tax cash flow per share.
Clear Channel is expected to complete its acquisitions of AMFM Inc. and SFX Entertainment Inc. in the third quarter. According to the company, the anticipated Clear Channel/AMFM merger will create the world’s largest out-of-home media entity.
Clear Channel Communications operates more than 900 radio and 19 television stations in the United States and has equity interests in more than 240 radio stations internationally. The Texas-based company also operates more than 700,000 outdoor advertising displays.
Sharon Rae Pettigrew