CCC Buys Back 5.69 Million Shares Of Its Common Stock

(CelebrityAccess MediaWire) —

On May 5, Clear Channel Communications, Inc. agreed to purchase 5,690,800 shares of the company's common stock from affiliates of Hicks, Muse, Tate & Furst, L.P. at $31.63 per share, the closing price of our common stock on May 4. The transaction will settle and close on May 9. Clear Channel does not expect this transaction to have any impact on its previously announced strategic realignment transactions. –Bob Grossweiner and Jane Cohen