Clear Channel Communications Completes Sale of Its Television Group

SAN ANTONIO--(BUSINESS WIRE)--Clear Channel Communications, Inc. (NYSE:CCU) announced today it has completed the sale of its Television Group to Newport Television, LLC for $1.1 billion, subject to certain closing items including proration of expenses and adjustments for working capital.

About Clear Channel Communications

Clear Channel Communications, Inc. (NYSE:CCU) is a global media and entertainment company specializing in mobile and on-demand entertainment and information services for local communities and premiere opportunities for advertisers. Based in San Antonio, Texas, the company's businesses include radio, television and outdoor displays. More information is available at www.clearchannel.com.