Clear Channel Announces Completion of Debt Tender Offer and Consent Solicitation for Certain Outstanding Debt of The Ackerley Group Inc.Business/Entertainment Editors Tender Offer and Consent Solicitation Covers 9% Senior Subordinated Notes Due 2009 of The Ackerley Group Inc. Clear Channel Communications Not to be confused with clear channel radio stations, which are AM radio stations with certain technical parameters. Clear Channel Communications (NYSE: CCU) is a media conglomerate company based in the United States. Inc. (NYSE NYSE See: New York Stock Exchange :CCU CCU abbr. 1. coronary care unit 2. critical care unit CCU critical care unit. CCU Critical care unit, see there ) ("Clear Channel") today announced that it has accepted for purchase $198,934,000 in principal amount of the 9% Senior Subordinated Notes due 2009 (the "Notes") of The Ackerley Group Inc. ("Ackerley") tendered pursuant to Clear Channel's previously announced tender offer and consent solicitation that expired at 5:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on June 28, 2002. Final settlement of the Notes is expected on July 3, 2002. Complete terms of the tender offer and consent solicitation are set forth in the Offer to Purchase and Consent Solicitation (the "Offer to Purchase") distributed to holders on May 31, 2002. Salomon Smith Barney acted as the Dealer Manager and Mellon Investor Services LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control acted as the Information Agent for the tender offer and the consent solicitation. Questions should be directed to Mellon Investor Services LLC at 888/509-7937 or to Salomon Smith Barney at 800/558-3745. This announcement is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consent with respect to any Notes. The tender offer and consent solicitation were made solely by the Offer to Purchase. About Clear Channel Communications Inc. Clear Channel Communications Inc. (NYSE:CCU), headquartered in San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. , is a global leader in the out-of-home advertising industry with radio and television stations, outdoor advertising displays, and live entertainment venues in 65 countries around the world. Certain statements in this release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Visit our Web site at www.clearchannel.com. |
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