Latest update on CC Radio spins


Along with its quarterly financial results, CC Media Holdings, the new parent company of Clear Channel Communications, provided this update on its station divestiture situation: “On November 16, 2006, the Company announced plans to sell 448 non-core radio stations. The total number of stations was revised from 448 to 275 during the first quarter of 2008. Clear Channel sold 238 non-core radio stations, had definitive asset purchase agreements for 34 non-core radio stations and continued to market 3 non-core radio stations at June 30, 2008.” The company did not provide any information regarding the stations put into the Aloha Trust to comply with FCC ownership limits when the recent deal to take the company more or less private when to closing.