KXXO AM and KMOD FM in Tulsa were acquired under the name "San Antonio Broadcasting" (same as KEEZ). Congress relaxed radio ownership rules slightly, allowing the company to acquire more than 2 stations per market.Stations were also added in Port Arthur, Texas (KPAC-AM-FM from Port Arthur College) and El Paso, Texas (KELP AM (now KQBU AM) from John Walton, Jr.). By 1995, Clear Channel owned 43 radio stations and 16 television stations.The television stations were ultimately sold to Newport Television.Due to the credit market crunch of 2007, Clear Channel ended up with rejected sales of its radio stations.The buyers, led by Bain Capital Partners and Thomas H.Lee Partners, agreed to pay .7 billion for the company.The company's new name is intended to reflect its growing digital business.
Over a hundred stations have already been assigned to Aloha Station Trust, LLC upon the consummation of the merger.
In 1997 Clear Channel moved out of pure broadcasting when it purchased billboard firm Eller Media, which was led by Karl Eller. In August 1997, Capstar and Hicks, Muse, Tate & Furst announced plans to acquire SFX Broadcasting, with the resulting company owning 314 stations in 79 markets and ranking as the third-largest radio group by income.
In 1998 it made its first move outside of the United States when it acquired the leading UK outdoor advertising company More Group plc, which was led by Roger Parry; Clear Channel went on to buy many other outdoor advertising, radio broadcasting, and live events companies around the world, which were then re-branded Clear Channel International. A year later, Chancellor Media Corporation and Capstar Broadcasting Corporation announced a merger that would result in Chancellor Media owning 463 stations in 105 markets when the deal was completed in second quarter 1999.
Clear Channel Communications was a radio broadcaster; Clear Channel Outdoor was out-of-home advertising; and Live Nation was live events.
The Mays family remained in effective control of all three, and held key executive roles in each (with Mark Mays as CEO of both radio and outdoor and Randall Mays as Chairman of Live Nation).