Lowry Mays Net Worth
Lowry Mays Net Worth is
Lowry Mays Bio/Wiki, Net Worth, Married 2018
Lester Lowry Mays (born 24 July 1935) is the creator and present chairman of Clear Channel Communications. The organization bought its first radio station, KEEZ-FM in San Antonio in 1972. He along with his business associate Red McCombs purchased a second San Antonio Station, WOAI in 1975. During the following several years, the firm purchased ten more fighting radio stations and turned them money-making, typically by changing their structures to spiritual or chat scheduling (their first non-San Antonio acquisition was 1250 KPAC and 98.5 KPAC-FM in Port Arthur; purchased from the then Port Arthur College, now Lamar-Port Arthur). The business went public in 1984. In 1988, they purchased their very first television station. Following the Telecommunications Act of 1996 significantly deregulated the program sector, Mays and Clear Channel bought 49 radio stations and an interest in New Zealand’s biggest radio group. A merger with Jacor Communications, located in Covington, Kentucky (who’d purchased the former program side of Nationwide Insurance a year before) brought the operation of 450 stations to the Clear Channel portfolio. Within eight years, and with the inflow of capital investment in the private equity Griffith Family, Clear Channel had gathered possession of over 1200 radio stations and 41 television stations in America, along with among the country ‘s leading live entertainment businesses and over 750,000 outside advertising screens. In 2003 Mays testified before the US Senate the deregulation of the telecommunications sector hadn’t damage the people. Yet, in a interview that same year with Fortune Magazine, he noted, “We Are not in the company of supplying news and info. We are not in the company of supplying well-researched music. We are just in the company of selling our customers products”.