Filed by Clear Channel Communications, Inc.
Pursuant to Rule 425 under the Securities Act of 1933
Subject Company: Clear Channel Communications, Inc.
Commission File No. 1-9645
For Immediate Release
[CLEAR CHANNEL COMMUNICATIONS, INC. LETTERHEAD
NEWS RELEASE
CLEAR CHANNEL ACQUIRES FRENCH RAILWAY ADVERTISING
San Antonio, Texas, May 18, 2000 Clear Channel Communications announced today
that it has signed an agreement to acquire 80% of France Rail Publicite (FRP),
which handles all outdoor advertising on railway property in France. FRP is a
subsidiary of SNCF, the national French railway operator. FRP also owns France
Bus, which operates bus advertising in France. Clear Channel is planning a major
investment program to modernize the advertising facilities offered.
FRP has approximately $100 million in revenue from media including 20,000
advertising panels in stations, 15,000 billboards on rail land, 25,000 panels in
trains and 7,500 buses. This will supplement Clear Channels existing French
billboard and street furniture businesses, Dauphin, Sirocco and Adshel.
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
37 countries around the world. Including announced transactions, Clear Channel
operates 874 radio and 19 television stations in the United States and has
equity interests 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 on Clear Channel Communications contact Randy Palmer,
Vice President of Investor Relations at (210) 822-2828 or visit our web-site at
www.clearchannel.com.
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.
