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Various media outlets, including Bloomberg News, Reuters, Radio Ink, and i Heart Media's hometown newspaper the San Antonio Express-News, claim that either bankruptcy or a major restructuring is likely, and may come as early as 2016.Clear Channel Communications purchased its first FM station in San Antonio in 1972.
It is the holding company of i Heart Communications, Inc.Hicks, Muse, Tate & Furst owned 59 percent of Capstar, with 355 stations in 83 markets, and was the largest single owner of Chancellor (which had 108 stations in 22 markets), with 15 percent of the stock.Chancellor Media later became AMFM Inc., which was acquired by Clear Channel in a deal announced October 3, 1999, and valued at $17.4 billion.The resulting company would own 830 radio stations, 19 television stations, and over 425,000 outdoor displays in 32 countries.In 2005 Clear Channel Communications split into three separate companies.The television stations were ultimately sold to Newport Television.
Due to the credit market crunch of 2007, Clear Channel ended up with rejected sales of its radio stations.
(formerly Clear Channel Broadcasting, Inc.); the company owns more than 850 full-power AM and FM radio stations in the U.
S., making it the nation's largest owner of radio stations.
The buyers, led by Bain Capital Partners and Thomas H.
Lee Partners, agreed to pay $26.7 billion for the company.
Clear Channel Communications was a radio broadcaster; Clear Channel Outdoor was out-of-home advertising; and Live Nation was live events.