Clear Channel and News Corp Announce an Agreement to Exchange Television Stations.Business Editors SAN ANTONIO--(BUSINESS WIRE)--Oct. 1, 2001 Clear Channel Worldwide (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 ) and News Corp (NYSE:NWS NWS National Weather Service NWS Naval Weapons Station NWS New World Symphony NWS Nuclear Weapon State NWS Not Work Safe NWS National Watercolor Society NWS North Warning System NWS Nose Wheel Steering NWS National Waste Strategy (UK) ) are pleased to announce today the closing of the transaction to exchange television stations WFTC-TV (Fox Network affiliate), Minneapolis, for KMOL-TV (NBC), San Antonio, and KTVX-TV (ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. ), Salt Lake City. This transaction has received regulatory approval. William Moll, president of Clear Channel Television, stated, "It has long been a goal of Clear Channel to have a television station in our home market. KMOL-TV is an outstanding television station with a long heritage of community service to San Antonio. It is a terrific addition to our outstanding cluster of San Antonio radio stations. The addition of KTVX-TV in Salt Lake City gives us the opportunity to join hands with our dynamic radio cluster in one of the nation's fastest-growing cities." Mark Mays, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Clear Channel, stated, "We are pleased to welcome KMOL-TV and KTVX-TV to the Clear Channel family. They will be a great addition to our already strong media presence in San Antonio and Salt Lake City." About 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. Clear Channel Communications Inc., 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 displays and entertainment venues in 63 countries around the world. Including announced transactions, Clear Channel operates approximately 1,180 radio and 18 television stations in the United States and has equity interests in over 240 radio stations internationally. Clear Channel also operates approximately 750,000 outdoor advertising displays, including billboards, street furniture and transit panels across the world. Clear Channel Entertainment is one of the world's largest diversified promoters, producers and presenters of live entertainment events and is a leading fully integrated sports marketing and management company. 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. |
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