Clear Channel Communications announced today that it has signed an agreement to acquire KUUL-FM, KMXG-FM, KCQQ-FM, WLLR-FM, WLLR-AM and WOC-AM in Davenport, Iowa from Mississippi Valley Broadcasting, Inc., an affiliate of Sconnix Broadcasting, LLC, for the purchase price of $85 million. The closing of this transaction is subject to regulatory approval.
ABOUT CLEAR CHANNEL COMMUNICATIONS
Clear Channel communications, Inc., is a global leader in the out-of-home advertising industry with radio and television stations and outdoor displays in 40 countries around the world. Including announced transactions, Clear Channel operates over 900 radio and 19 television stations in the United States and has equity in over 240 radio stations internationally. Clear Channel also operates more than 700,000 outdoor advertising displays, including billboards, street furniture and transit panels across the world. The company is headquartered in San Antonio, Texas.
For further information contact Randy Palmer, Vice President of Investor Relations or Gabrina Soliz at (210) 822-2828 or visit our web-site at www.clearchannel.com.