Texas size: Clear Channel builds a broadcast dynasty. (Clear Channel Communications Inc.)(The NAB Radio Show)(Cover Story)

Broadcasting & Cable, October, 1996 by Rathbun, Elizabeth A.

Lowry Mays makes it sound easy when he explains how Clear Channel Communications Inc. keeps topping its own The key is not simply to cut costs but to increase TV and radio station revenue. "We strive to achieve a 20% growth in our broadcast cash flow" each year, Mays says. In addition, Clear Channel continues to acquire stations, giving it more and more opportunities to meet that 20% goal.

"It doesn't matter whether they're performing or underperforming," Mays says of the target stations. "When they get in our company they've got to accelerate their performance." But if this were as easy as Mays implies, everybody would be doing it. San Antonio, Tex.-based Clear Channel's success ma be tied to its one-of-a-kind magic bullet: its senior...

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