|Clear Channel Communications, Inc. is a diversified media company with three reportable business segments: radio broadcasting, outdoor advertising and live entertainment. As of December 31, 2001, the Company owned, programmed, or sold airtime for 1,240 domestic radio stations and a national radio network. In addition, the Company has equity interests in various domestic and international radio broadcasting companies. The Company also is engaged in outdoor advertising, with a total advertising display inventory of 156,623 domestic display faces and 573,416 international display faces. In addition, the Company is a promoter, producer and venue operator for live entertainment events. As of December 31, 2001, the Company owned or operated 104 live entertainment venues domestically and 31 live entertainment venues internationally. The Company also owns or programs 19 television stations, owns a media representation firm and represents professional athletes.
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