Clear Channel Communications

Stock Symbol: CCU

Clear Channel Communications Description:
Clear Channel Worldwide, headquartered in San Antonio, Texas, is a global leader in the out-of-home advertising and entertainment industries with radio and television stations, outdoor advertising displays, and live entertainment productions and venues throughout the United States and in 65 countries around the world.

Clear Channel Communications Financial Summary:
CCU is a diversified media company with three business segments: broadcasting, live entertainment and outdoor advertising. The Company owns 1,182 radio stations and 39 T.V. stations, as well as 776K outside displays. For the 6 months ended 6/30/05, revenues fell 2% to $4.34B. Net income fell 27% to $268.6M. Results reflect sales declines at Radio Broadcasting and Live Entertainment, reduced operating margins, and fewer gains on marketable securities.

Clear Channel Communications Business Summary:
Clear Channel Communications, Inc. is a diversified media company with three business segments: radio broadcasting, outdoor advertising and live entertainment. As of December 31, 2004, the Company owned 1,189 radio stations and held equity interests in various international radio broadcasting companies. Clear Channel also owned or operated 151,603 outdoor advertising display faces in the United States and 671,977 international outdoor advertising display faces. As of December 31, 2004, the Company owned or operated 75 live entertainment venues in the United States and 29 live entertainment venues internationally. Clear Channel also owns a non-controlling interest or has booking, promotions or consulting agreements with 27 venues in the United States and one international venue. Other businesses of the Company include the ownership or programming of 40 television stations, as well as the operation of a Company-owned media representation firm that represents professional athletes.

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