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"...the opportunity to call Network 40 my own."
—-- Lowry Mays
Monday, March 6, 2000

Clear Channel Swallows Sillerman For $4.4 Billion

Lowry Mays buying spree continues.

Clear Channel Communications, which will soon be the largest U.S. radio broadcaster, thanks to its recent purchase of AMFM, has agreed to purchase Robert F.X. Sillerman’s SFX Entertainment for $3.8 billion in stock and debt.

Clear Channel will pay six-tenths of a share, or $45.11 for each SFX Class A share. It will also swap one share for each SFX Class B share and will assume $1.1 billion in debt.

 
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