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What Did Mark Mays Tell Clear Channel Employees?

February 7, 2011 - Following the Clear Channel quarterly conference call today, Mark Mays sent an e-mail to all Clear Channel employees letting them know that he will be out in less than 60 days. 

Mark Mays E-Mail to Employees
"Theres a time for everything.  And with a New Year well underway, on the road to a new financing that secures Clear Channels near term outlook, and a leadership team that has positioned the company for growth, Ive determined that now is THE right time for me to follow through on the commitment I made to my family and myself and step back from daily management of the company.  Ive informed the Board that by March 31 I will retire as President and CEO of Clear Channel news which was announced today along with our Fourth Quarter earnings".

"Its not time for me to say Goodbye to all of you or to Clear Channel.  I intend to stay involved with this company that I love, continuing in my role as Chairman.  But with leadership like CCO Americas Ron Cooper; William Eccleshare at CCO International; John Hogan at Clear Channel Radio now joined by Bob Pittman, Clear Channels Chairman of Media and Entertainment Platforms; CFO Tom Casey; GC Rob Walls and Head of HR Bill Feehan our companys daily operations are in the great hands of a team that has shown how much it can accomplish together and what great potential our operations have for growth. Their leadership, their spirit of innovation, their belief in all that can be accomplished with your help, are what have made it possible for me to consider finalizing these plans of mine.  Meanwhile, the Board will continue the active search for my replacement that began back in June when I first told you of my intention to retire". 

"This will be the beginning of a new stage in life for me, one that Im looking forward to.  But I will also look forward to maintaining my ties to Clear Channel and to you all and take continuing pride in all your great work".

Warm Regards,



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