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Wednesday, October 12, 2005

Two Terminated At Clear Channel Following Payola Investigation

Clear Channel (NYSE: CCU) announced today that two individuals had been dismissed following allegations of illegal ‘pay-to-play’ activities. The company also uncovered other instances of inappropriate conduct and those employees have been placed under disciplinary action. Clear Channel did not reveal the names or the positions of the terminated employees. The illegal activities were uncovered during a legal settlement between the New York State Attorney General Eliot Spitzer and the music company, Sony BMG.

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