Mark Mays, president and COO of Clear Channel Communications, released the following response to the Federal Communications Commission vote on media ownership:
"Clear Channel is deeply disappointed with today's FCC vote to re-regulate the radio industry. While the FCC is supposed to act in the public interest, today they missed the mark by a mile. This FCC action will extinguish the substantial consumer benefits brought on by radio deregulation in 1996.
"Just ten years ago, nearly 60 percent of the nation's radio stations were operating in the red, cutting news budgets and laying off employees. Deregulation changed all that. But instead of letting radio stations find better and more innovative ways to serve their listeners, the FCC is intent on turning the clock back to a time when the industry was incapable of providing consumers the variety of programming it does today.
"Unfortunately, the FCC chose politics over the public interest, and American consumers will be the ultimate victims. We at Clear Channel will continue to keep our eye on the consumer, striving to provide the absolute best in entertainment, local news and information each and every day. Our
listeners and the communities we serve deserve nothing less."
