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About Clear Channel
About SFX 02
Is Payola Legal?
About The Rouse Company

More SFXNews & Merger2000
Clear Channel Explains 2002 First Quarter Loss
CEO L. Lowry Mays says - that Clear Channel's Size is Drawing Complaints

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The Network
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(03.28.03) - After over 20 years in a printed format, The Network Magazine Group will continue as an online publication only. In today's announcement, Clear Channel's Premiere Radio Networks cited the economic climate as the main reasons for the transition to the online format. Close to 50 staffers received pink slips Friday. The online presence will include this Web site, the A&R Network and Yellow Pages of Rock.

The Network Magazine Group has employed hundreds of people over the past two decades. The company was certainly a family to most of us. All of those valued friendships will be missed. We thank you for your loyal and continued support.

More From Clear Channel
Communications

Clear Channel
Communications

2001 News Analyst

Clear Channel Communications, Inc., headquartered in San Antonio, Texas, is a global leader in the out-of home advertising industry with radio and television stations, outdoor displays and entertainment venues in 40 countries around the world. Including announced transactions, Clear Channel operates over 1,120 radio and 18 television stations in the United States and has equity interests in over 240 radio stations internationally.

The bet in the industry is that Clear Channel will ultimately cut an exclusive pact with Cincinnati-based Tri-State Promotions, which is run by Michaels' longtime friends Bill Skull and Lenny Lyons.

"We haven't made any decisions yet," Michaels said. "Of course, Tri-State is the devil I know, and on the trust scale, they rate the highest in my book. I've been doing business with them a long time, and that's where the comfort zone is. But we are still studying every option. Our plan is not exactly ripe yet. It's a work in progress, but we should be able to announce something within a month."

More About
Clear Channel

 

 cc2002February 25, 2002

Clear Channel Size is Drawing Complaints Empire Built on Deregulation

After Congress eased ownership limits. CEO L. Lowry Mays went shopping, and to explain how deregulation can turn an obscure businessman into a sudden power broker, look no farther than Texas radio billionaire L. Lowry Mays.

Six years ago, said LA Times reporter, Jeff Leeds, "Lowry Mays, then modest San Antonio-based chain Clear Channel Communications Inc. owned 36 radio stations, four under the legal limit. Then Congress did away with most radio station ownership limits and Mays went on a frantic shopping spree.

Today, his sprawling empire covers all 50 states, with 1,225 radio stations, about 10% of the nation's total, plus the country's biggest live-concert promotions firm, 19 television stations and 770,000 billboards. In a decade, Clear Channel's sales have jumped from $74 million to about $8 billion last year, a stunning 100-fold increase. But Clear Channel's rapid expansion is provoking allegations that the radio giant is bullying recording artists and skirting station ownership rules. Consumer advocates point to the conglomerate as a symbol of the results of media deregulation--one that should be examined after a federal court ruling last week that could open the door to more consolidation in the television and cable industries.

"Our worst fears have been realized," Andrew Jay Schwartzman, president of the watchdog organization Media Access Project, said Friday. "A lot of the things Clear Channel is doing are the traditionally questionable industry practices, now on steroids."

Clear Channel's executives say they have done nothing improper and tout the benefits of continued deregulation.

Last month, Rep. Howard L. Berman (D-Mission Hills) urged the Justice Department and the Federal Communications Commission to probe reports that Clear Channel punished stars, such as Britney Spears, by refusing to play their songs on Clear Channel radio stations because the musicians declined to hire the company as their tour promoter.

If the allegations are true, such acts would "exacerbate the negative effects consolidation has had on recording artists, copyright owners, advertisers and consumers," wrote Berman, a senior Democrat on the House Judiciary Committee.

Concern about Clear Channel's vast size also has spread to Wall Street. Struggling under $9billion in debt, Clear Channel has racked up four straight unprofitable quarters. It will report its annual results Tuesday. Meanwhile, the company's stock closed Friday at $48.39, about half its record high of two years ago.

Clear Channel says that cost cutting will cushion the company as it slogs through the advertising slump and that it eventually will see increased profit.

One cost-cutting strategy Clear Channel is betting on is repackaging radio shows across the country. The conglomerate is using so-called voice tracking on a scale that would have been unthinkable before deregulation.

In 48 cities, millions of radio listeners each week tune in to a station in their market calling itself Kiss FM. Many of the deejays are in Los Angeles, working for Clear Channel's pop powerhouse KIIS-FM, but listeners in smaller markets across the country may hear Rick Dees joking about their local news or Sean Valentine trumpeting upcoming concerts at their local amphitheater, as well as a similar playlist laden with bands such as 'N Sync and Linkin Park.

"Kiss" programming recorded in Los Angeles is exported to Des Moines and Jacksonville, Fla., as a series of taped moments, from phone calls to song intros, that are spliced together to sound as if the deejays are chatting from a studio down the street.

The voice-tracked segments, music and commercials can be whisked from one station to another on a digital network that is potentially available to 80% of Clear Channel's stations. Producers cut and paste the segments to create the appearance of deejays taking live requests and calls from listeners, or even record half of a conversation for a live deejay to interact with.

Clear Channel touts this as a technique that delivers big-city deejay talent to small markets that couldn't otherwise afford it.

Controversy Over Radio Program Repackaging

"Our Kiss brand is like McDonald's," said Todd Shannon, a Clear Channel brand manager overseeing many of the stations. "When you see the Kiss ball logo, there's no mistaking what you're going to get. It's a Top 40 product, but they're all localized inside."

But competitors say the Kiss format doesn't benefit Clear Channel, listeners or the radio industry.

In Chicago, Clear Channel converted an oldies station to a Kiss outlet that now only offers a local deejay during the afternoon and evening shifts, company officials said. "Everything else is the robot," said Todd Cavanah, program director of competing pop station WBBM-FM.

"They're making radio into spoon-fed generic" junk, said Mike Spencer, who programs rival pop station KLUC-FM in Las Vegas, where Clear Channel introduced a Kiss station. "They're turning listeners off. It gives listeners one more reason not to listen to radio but to turn on their computer or use CDs," Spencer said.

Clear Channel's campaign so far has yielded mixed results--newly branded Kiss stations have upset dominant pop stations in such markets as Cincinnati and Boise, Idaho, but failed to gain much share in some bigger markets, including Chicago.

Voice tracking also has prompted some concern among authorities in the past. Two years ago, Clear Channel was fined $80,000 by the Florida attorney general for misleading radio listeners into thinking that a national contest was local, in part because the company dubbed a local deejay's voice into an interview with a winner.

Clear Channel touts the benefits of cross-promotion, or leveraging one asset to benefit another. Yet critics say Clear Channel's idea of synergy essentially means it hoards radio programming, concert tickets, access to stars and concert advertising dollars for itself.

Clear Channel owns Premiere Radio Networks, which has been shifting its syndicated radio shows, such as Jim Rome's sports talk fest and Rush Limbaugh's political program, from competitors' to Clear Channel's stations.

Artist managers also are nervously eyeing Clear Channel's expansion of station-sanctioned concerts, commonly known as radio shows.

Representatives of various artists have said for years that broadcasters coerce acts into playing the shows for little or no fee by refusing to air their latest songs unless they appear.

Regulators have said the practice of trading airplay for an artist's appearance without disclosing the deal is a violation of federal anti-payola laws. Since 1960, federal law has forbidden broadcasters from accepting money or anything of value in exchange for airplay without disclosing the payment.

But Clear Channel executives say their events, such as KYSR-FM's annual "Not so Silent Night" concert, fairly compensate acts and aren't forced upon them with threats.

Running a radio powerhouse is a far cry from Mays' early days, when he studied petroleum engineering in college. People who know Mays say the 65-year-old former investment banker never imagined he would control such a sweeping empire.

Salesmanship always has been his forte, said John Barger, a former executive of the company, who helped Mays and partner B.J. "Red" McCombs, run their first small radio stations.

Before building a radio empire, Mays worked for a local investment house and commuted to New York. The first stock he pitched was that of a small photo processing company, Barger recalls.

To identify prospective investors, Mays paid a neighborhood youth $10 to copy license plate numbers from cars parked in front of the company's local store, then paid another youth to visit the Department of Motor Vehicles to pull addresses for each of the cars, Barger said. Each one received a letter from Mays suggesting they invest in the company.

Mays got into the radio business almost by accident.

In 1972, Mays and McCombs purchased an unprofitable FM station after a local furniture dealer convinced Mays of its potential, Barger said. Two years later, Mays purchased San Antonio's WOAI-AM--one of about 25 designated "clear channel" stations, granted a frequency free from interference. He turned it into a news-talk station and slowly added more properties.

Mays took the company public in 1984 and started to buy up stations, developing a reputation as a cost cutter. Even now, critics deride the company as "Cheap Channel."

Strong Ties to the Bush Administration

Mays also has a long-standing interest in politics, backing candidates seeking everything from the San Antonio mayor's office to the White House.

While governor of Texas, President Bush appointed Mays to a state technology council in 1996. Mays contributed $51,000 to Bush's 1998 gubernatorial campaign.

Clear Channel also contributed $106,000 to the Republican National Committee during the presidential election cycle, with Mays and his wife, Peggy, donating an additional $37,000 to the party.

And the Justice Department's current antitrust chief, Charles James, formerly headed the antitrust department at the Washington law firm that represented Clear Channel when the company sought regulatory approval of its purchase of radio broadcaster AMFM Inc. in 2000, when it also purchased concert promoter SFX.

Buying entertainment giant SFX cost Clear Channel $4.4 billion, making it instantly the nation's biggest promoter with $2 billion in live-event revenue a year.

Among the thousands of concerts, family events, Broadway shows and other events it took on after the SFX deal, Clear Channel also found itself putting on Supercross motorcycle races. But last year Clear Channel and the motorcycle industry's trade association began exchanging blows after contract renewal talks broke down.

Senior officials at the American Motorcyclist Assn., which sanctions Supercross races, say Clear Channel has sought to undermine the organization since the association ended its contract with the company.

Clear Channel now is planning to promote its own Supercross series with a European sanctioning body.

AMA officials hired a new promotion firm to run its events, and they say that Clear Channel is pressuring stadium operators to sign deals guaranteeing the conglomerate the exclusive right to promote motor-sports events.

Ken Hudgens, vice president for marketing at Clear Channel's motor-sports division, said the AMA "can go out and do whatever they want to do.... We do what's right for our business."

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Respectfully Submitted
Josie Cory
Publisher/Editor TVI Magazine
TVI Magazine, tviNews.net, Associated Press, Reuters, BBC, LA Times, NY Times, VRA's D-Diaries, Press Releases and SmartSearch were used in compiling and ascertaining this news report.

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More About
Clear Channel

 

Weak ad revenue, restructuring costs leave earnings $90million below estimates. After-hours investors send stock down 10%.

TVI Magazine SmartClips and the Los Angeles, reported tha radio giant Clear Channel Communications Inc. reported a dramatically wider fourth quarter loss because of an advertising slump and across-the-board restructuring, and the news helped drive down shares by almost 10% in after-hours trading.

The nation's biggest radio broadcaster reported a net loss of $365.6 million, or 61 cents a share, for the quarter ended Dec. 31, compared with a net loss of $192 million, or 33 cents a share, in the year-earlier period. Sales in the latest quarter fell 8%, to $1.86 billion.

The company also said it will take a pre-tax charge of $15 billion to $25 billion in the current quarter because of a change in accounting rules. Companies now are required to more accurately account for goodwill, or the amount they overpaid for assets. Clear Channel has grown dramatically since the mid-'90s with a string of acquisitions and now owns about 1,225 radio stations and 19 TV stations. Clear Channel's quarterly earnings before interest, taxes, depreciation and amortization, a critical measure of media companies' performance, plunged 46% from the year-earlier period to $344 million, or about $90 million below some Wall Street estimates.

"This is as big a miss from a cash-flow perspective as I've seen in the media space" in about a year, said Jordan Rohan, analyst at SoundView Technology group.

Shares of Clear Channel, based in San Antonio, fell 27 cents to $49.09 in regular trading on the New York Stock Exchange. But the stock fell as low as $44 in after-hours trading.

Clear Channel said it had hired 600 salespeople to solicit radio advertisers amid the economic slowdown, but it had also fired about 2,000 employees from radio programming, engineering and other operations during the last quarter to cut costs. The company said the cuts resulted in severance and restructuring expenses totaling about $80 million.

Company President Mark Mays said the radio advertising market was showing signs of improvement, but cautioned that sales in the conglomerate's billboard operation and live-entertainment division are likely to pick up more slowly.

For all of 2001, Clear Channel posted a net loss of $1.14 billion, or $1.93 a share, compared with net income of $248.8 million, or 57 cents a share, a year earlier. Revenue jumped 49% to $7.97 billion last year, due to a series of acquisitions.

At year's end Clear Channel had $9.5 billion in debt, but May said the firm's $3 billion in available bank credit would cover its debts during the next two to three years.

Mays also said a federal court ruling last week that opened the door to further consolidation in the cable and television industries. He suggested the court decision wouldn't necessarily spur Clear Channel to acquire additional TV outlets in the short term. But he said the company is focused on increasing its market share in radio.

"We're continually buying more radio stations," he said.

////

July 18, 2001

04Concerts West Deal Getting Less Likely

According to TIMES STAFF WRITER, JEFF LEEDS,
Prospects for the possible sale of Beverly Hills concert promoter Concerts West to rival Clear Channel Entertainment have dimmed considerably, according to sources familiar with the negotiations.

The two sides, as of July 18, 2001, could not agree on key deal points such as how the combined companies would be organized, sources said.

In addition, Denver billionaire Philip Anschutz, Concerts West's owner, is concerned about the increasing consolidation of the $1.6-billion concert industry, sources said. A sale would cement Clear Channel's dominance of the live entertainment industry, eliminating one of its few U.S. competitors and clearing the way for purchases of smaller rivals.

Clear Channel, formerly known as SFX, has spent an estimated $2 billion in the last four years buying up dozens of venues and promotion firms, including Los Angeles' Avalon Attractions.

The sale of Concerts West, the negotiations of which were first reported in The Times last month, would make for an unusual reversal for Anschutz, who entered the concert business less than a year ago. Anschutz's investments include Staples Center, the Los Angeles Kings hockey franchise and a minority stake in the Los Angeles Lakers.

The deal being discussed would have provided Clear Channel with the right to promote concerts in certain Anschutz-owned venues, sources said.

Timothy J. Leiweke, president of concerts and sports subsidiary Anschutz Entertainment Group, said that his firm is talking with Clear Channel, but that a deal is not imminent.

"We are not getting out of the live entertainment business," Leiweke said. "Our desire in life is not to back down, our desire in life is to grow, and that includes the promotion of live events in the United States."

Anschutz's concert division has secured control of potential moneymakers such as a three-year Las Vegas stand by superstar Celine Dion. But it had lost out to Clear Channel in the competition to promote tours by such acts as Madonna and Sade. Clear Channel's Dominance Obscures Promotions Conduit

Music: Rivals say their chance to compete is eroded by synergy between the firm's radio and live-event units.

 ////

 

March 9, 2001

Randy Michaels, chief executive
of the San Antonio-based broadcast giant, acknowledged that the plan would probably rattle some cages in the music industry, but he insists the program is legal and not just a new corporate version of payola.

"We're been moving very slowly in launching this initiative, trying to make sure we dot all the i's and cross all the t's in terms of the legal issues," said Michaels, who is scheduled to deliver the keynote address Saturday at Radio & Records' annual convention in Los Angeles.

"The fact is the industry spends a tremendous amount of money promoting records to our radio stations, and what we have here is an opportunity to take some of that money in right through the front door and put it on our books," Michaels said. "We've come up with some innovative ways to generate new revenue streams for our shareholders' benefit. And in the process, I think we can save the labels money by cutting out all of these middlemen."

Radio airplay is the most powerful promotional tool for record companies. Many people buy records based solely on what they hear on the radio. Federal law prohibits radio stations from taking money or anything of value in exchange for playing songs without disclosing the payment to listeners.

Record labels have long skirted payola laws
by shelling out millions of dollars each year to independent consultants who can dangle money, audio equipment, luxury cars and exotic vacations before station personnel. Independent promoters, who function as a buffer between labels and radio personnel, typically do not pay cash for airplay of specific songs but circumvent payola law by providing stations with annual promotion budgets.

Last fall, Clear Channel issued an internal edict barring programmers at its stations from renewing any contracts with independent promoters. As the company began kicking around ideas for its music initiative, Clear Channel initially considered installing an in-house promotion czar who would act as the radio giant's exclusive liaison with the music industry, Michaels said.

In recent weeks, however, Michaels said the company has backed away from running its own record promotion arm and is now contemplating cutting an exclusive promotion pact with a third party. Michaels confirmed that at least two independent promoters have put in bids that could add more than $20 million to its bottom line.

The bet in the industry is that Clear Channel will ultimately cut an exclusive pact with Cincinnati-based Tri-State Promotions, which is run by Michaels' longtime friends Bill Skull and Lenny Lyons.

"We haven't made any decisions yet," Michaels said. "Of course, Tri-State is the devil I know, and on the trust scale, they rate the highest in my book. I've been doing business with them a long time, and that's where the comfort zone is. But we are still studying every option. Our plan is not exactly ripe yet. It's a work in progress, but we should be able to announce something within a month."

Michaels said the company's think tank
has come up with a variety of revenue-generating ideas, including selling research to labels based on reaction to records played on its stations. Clear Channel currently owns several research firms that monitor the response of listeners and program directors to new songs in most major Top 40, urban and adult contemporary radio markets across the nation. The company hopes eventually to charge labels for access to that information.

"We are trying to test the appetite of the labels for real information that comes directly from us, not just guessing by some third-party independent," Michaels said. "We don't have anything in mind that would tie the payment from record labels to airplay for specific titles. We may well sell information about what we are playing. We may well also sell research that would help guide labels to the songs that we believe have the greatest hit potential."

Michaels acknowledged that the think tank has even considered selling late-night commercial time directly to labels for the purpose of promoting new songs.

"The argument would go like this: Would you rather hear a couple used-car commercials and carpet store ads in a row or a song that the record companies believe has hit potential?" Michaels said. "If we do it, of course we would run all the appropriate announcements required by law so that everyone would realize we got paid to play the record."

Let's launch its own record label!
some executives inside of Clear Channel's think tank believe. Michaels said he has already nixed that idea. He said running a label would present too many conflicts and possible problems for Clear Channel with payola laws.

'Zero Tolerance for Payola' Since
Clear Channel was fined $8,000 last fall by the Federal Communications Commission for a promotion offered by a company it acquired that guaranteed airplay of a song by pop singer Bryan Adams in exchange for a series of free performances at its radio station concerts.

Michaels said the promotion occurred before Clear Channel purchased the station and would never happen again. In fact, he said the company's stiff anti-payola stance recently resulted in the dismissal of two program directors.

"We have zero tolerance for payola here," Michaels said. "We had to let a couple of guys go this year because their effectiveness had been compromised. The fact is the program director's job is a tough one. The sales department is all over him. Corporate management keeps pushing him. Sometimes, it's like his only friend is the record promoter, and occasionally they can be swayed by that.

"What I'm trying to do here is ensure that our employees make decisions based on objective data only," Michaels said.

Clear Channel Communications,
tsays it wants a share of the tens of millions of dollars in record company promotional funds that go to independent promoters-- which at times seems like a touch of payola.

The move is sending a shudder through the major labels, which see legal and ethical problems with paying money directly to broadcasters to help get their artists on the air.

The initiative, which the company expects to roll out around May, reflects a fundamental shift of power in the record business. In the past, powerful record labels were accused of bribing deejays operating at small, independent radio stations to influence what songs got airplay.

Industry mergers have moved the balance of power to radio groups, which today have the clout to launch a song simultaneously in scores of markets across the country--or consign it to oblivion.

Clear Channel, which controls 1,200 radio stations and owns the world's biggest concert promoter, SFX, hopes to generate more than $20 million annually by selling chainwide advertising packages, research and a variety of airplay data to labels whose songs are played on its stations.

Clear Channel plans to sell ads to labels that would air immediately after the station plays the latest song by one of their artists. The brief ad would identify the artist who performed the preceding song, a practice that many stations have dropped.

Clear Channel said it would sell such an ad only if programmers had already determined the song was a hit. Sources say the company is pitching ads at $1,000 a pop that would run on 60-some stations.

Critics contend that the broadcast giant is using its newfound leverage as the nation's largest chain to extract deals from record labels that appear to sidestep payola laws.

"Clear Channel is trying to skirt the law, using its power to shake down record companies in what amounts to legal payola," said Steve Rendall, senior analyst for the New York-based media watchdog group FAIR.

Record company officials say they are reluctant to buck Clear Channel, with its dominant market position in radio and concert promotion, but they are uncertain how effective the new promotions will be.

Radio industry sources say there is another reason: Record companies could lose the power they already have to influence airplay at Clear Channel stations under the current system with independent agents.

And a direct play-for-pay arrangement between record company and radio broadcaster could be illegal.

///

About The Rouse Company

Headquartered in Columbia, Md., The Rouse Company was founded in 1939 and became a public company in 1956 (NYSE:RSE). A premier real estate development and management company, The Rouse Company, through its numerous affiliates, operates more than 250 properties encompassing office, retail, research and development and industrial space in 22 states. The company is also the developer of the planned communities of Columbia, Md., and Summerlin, Nev.

Regarding The Rouse Company:

This release includes forward-looking statements which reflect The Rouse Company's current view with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties which could cause actual results to differ materially from historical or anticipated results. The words "believe", "expect", "anticipate" and similar expressions identify forward-looking statements which speak only as of their dates. The Rouse Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise. For a discussion of certain factors that could cause actual results to differ materially from historical or anticipated results, including real estate investment risks, development risks and changes in the economic climate, see Exhibit 99.2 of The Rouse Company's Form 10-K for the fiscal year ended December 31, 1999.

  • The Rouse Company
  • David L. Tripp
  • Vice President and Director, Investor Relations and Corporate Communications
  • (410) 992-6546
  •  
  • Clear Channel Communications/Adshel
  • Investor Inquiries: Media Inquiries:
  • Randy Palmer Doug Watts
  • Vice President of Investor Relations, President, Adshel USA
  • Clear Channel Communications (212) 755-8282
  • (210) 822-2828
  •  
  • Media Inquiries
  • Doug Watts

    President, Adshel USA The Rouse Company signs agreement with a division of Clear Channel Communications for exclusive advertising rights.

    The Rouse Company of Columbia, Maryland (NYSE:RSE) and Adshel/Mall Communications Network announced today the signing of an exclusive 10-year agreement for advertising displays at Rouse's retail properties throughout the U.S. The agreement marks the beginning of a strategic marketing alliance between Rouse and Adshel's parent company, Clear Channel Communications.

    "We are excited to be aligned with a company that has expertise in the retail center advertising business and is fueled by one of the world's largest media companies" said Andrew C. Tilmont, Rouse's Director of Operations Administration. "Adshel is one of the most experienced players in this business, having pioneered it with the people at Mall Communications Network. Their expertise in this business is unmatched and they're even more effective with Clear Channel's massive marketing presence."

    As the exclusive static advertising partner for the common areas in the shopping centers, Adshel will build custom designed displays created by the well-known Chicago architectural firm of Krueck & Sexton. The new displays represent a move forward in the design of the advertising medium in the mall environment. "The look of the displays enhances the shopping environment while providing an impressive advertising product," said Mr. Tilmont. "Our alliance with Clear Channel and Adshel will further help us provide our shoppers with relevant information that will make their shopping experience more informative and enjoyable."

    Adshel grew its share of the retail center advertising business last year by acquiring Mall Communications Network and merging it with its Mall Media division. As a division of Clear Channel, it is part of the world's largest outdoor advertising company. Adshel currently maintains advertising displays in 376 malls in the U.S. with the leading share of malls in the top markets. The addition of the Rouse portfolio provides Adshel with more than twice as many malls in the top ten U.S. markets as the next largest mall advertising company. "Rouse's portfolio is one of the premium portfolios among the various mall companies," said Doug Watts, President of Adshel USA. "Not only are they concentrated in the top advertising markets, but they are predominantly upscale malls with prestige anchors such as Nordstrom, Neiman Marcus and Saks Fifth Avenue. We are excited to be partnering with them to completely change the way the mall venue has previously been marketed."

    Of particular interest to Rouse was Adshel's alliance with the 1,120 Clear Channel Radio stations throughout the U.S. Earlier this year Adshel, along with the San Antonio and Austin Clear Channel radio stations, tested a cross-platform sponsorship opportunity with the Rouse retail centers in those markets. The program accelerated sponsorship revenues in the two Texas retail centers by combining on-air sponsor announcements with in-mall advertising. "We view this relationship to be a huge growth opportunity for the mall sponsorship programs," added Mr. Tilmont. "The power of the 13 San Antonio and Austin radio stations was an enormous benefit to the test sponsors. Having the entire sales force of the area radio stations presenting our malls as an advertising medium to the regional advertisers was very effective. Now that we have the master agreement signed, we expect to see more programs like this throughout our shopping center properties."

    About Clear Channel Communications and Eller Media Company

    Clear Channel Communications, Inc., headquartered in San Antonio, Texas, is a global leader in the out-of home advertising industry with radio and television stations, outdoor displays, and entertainment venues in 40 countries around the world. Including announced transactions, Clear Channel operates 1,120 radio and 18 television stations in the United States and has equity interests in over 240 radio stations internationally. Clear Channel also operates more than 750,000 outdoor advertising displays, including billboards, street furniture and transit panels across the world. SFX Entertainment, part of the Clear Channel family, is the world's largest diversified promoter, producer and presenter of live entertainment events and is a leading fully integrated sports marketing and management company.

     

    Regarding Adshel:

    Certain statements in this release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act 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.

  • (212) 755-8282

    ///

     

    ///

     

    Clear Channel Communications, Inc.,
    headquartered in San Antonio, Texas, is a global leader in the out-of home advertising industry with radio and television stations, outdoor displays and entertainment venues in 40 countries around the world. Including announced transactions, Clear Channel operates over 1,120 radio and 18 television stations in the United States and has equity interests in over 240 radio stations internationally. Clear Channel also operates more than 750,000 outdoor advertising displays, including billboards, street furniture and transit panels across the world.

    About SFX
    SFX, a subsidiary of Clear Channel Communications (NYSE:CCU), is the world's largest producer and marketer of live entertainment events. SFX currently owns, operates and/or exclusively books 130 live entertainment venues, including 44 amphitheaters in the U.S. Each year, more than 60 million people attend approximately 26,000 events promoted and/or produced by SFX, including: Live music events; Broadway and touring Broadway shows; family entertainment shows; and specialized sports and motor sports shows. SFX also provides strategic sports marketing sales and consulting services to professional and college teams, leagues, venues and properties.

    In addition, SFX owns
    a leading full-service talent management company, specializing in the representation of athletes and broadcasters. SFX is headquartered in New York City. More information is available at http://www.sfx.com .

    ////

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Respectfully Submitted
Josie Cory
Publisher/Editor TVI Magazine
TVI Magazine, tviNews.net, Associated Press, Reuters, BBC, LA Times, NY Times, VRA's D-Diaries, Press Releases and SmartSearch were used in compiling and ascertaining this news report.

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