Clear Channel Communications/mergers & acquisitions

A detailed Summary of Clear Channel Communications/mergers & acquisitions

Lowry Mays, who is now one of the wealthiest men in the business, started with a struggling radio station and turned it into one of the world's largest media empires. Through risk taking, mergers, and acquisitions he is now operating in 34 nations around the world, with a group of stations that represents the largest critical mass of broadcasting companies in the world. Mays, not only the chairman and CEO of Clear Channel Communications and but also a namesake of Texas A&M's business school.

Mays, graduated Texas A&M in1957, in 1972 borrowed $125,000 to purchase failing KEEZ-FM in San Antonio. In 1984, when restrictions got more lenient he started buying up all these little companies around him. Today, the $50 billion company owns 1,100 radio and TV stations and 550,000 billboards worldwide.

What was once a poorly performing station was transposed by Mays, in his opinion, It was performing poorly because it was an FM station and in those days, radio was dominated by AM. The FM band was a new thing and that was something not many wish

to dabble in but Mays sensed profit and this is where the idea of growth began.

In the 1980s, Mays expanded Clear Channel to include television stations and later began acquiring outdoor advertising companies. He credits the move into television and billboards with enabling his company to survive that decade's economic downturn and position it for phenomenal expansion in the '90s.

. Companies intentions are to focus on the out-of-home business, both radio and outdoor, will both grow. If you look at them historically, they seem had great compounded rates of growth in revenues over the past 30 years, radio being slightly ahead of outdoor. The overall company looks to be attempting to takeover more markets then it already has and with Mays to lead the way we should watch out. This idea of expansion, expansion, expansion, is going to create a god-like giant. Their principal focus with all the internet expansion is going to be related to television networks and more cable channels. So I think they will continue to do well, not only by gaining

Some common words found in the essay are:
San Antonio, Channel Communications, Lowry Mays, Motors DIRECTV, Texas A&M, Texas A&M's, channel communications, radio billboards, expansion expansion, outdoor advertising, XM Radio,

Approximate Word count = 711
Approximate Pages = 3 (250 words per page double spaced)

Category: Technology

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