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WASHINGTON Clear Channel today said it would spin off its outdoor and entertainment divisions from its radio and TV groups, resulting in three separate publicly traded companies: Clear Channel Communications, Clear Channel Outdoor and Clear Channel Entertainment.
The San Antonio-based media giant, which disclosed the realignment in conjunction with reporting its first-quarter earnings, will continue to hold a 90 percent controlling interest in the outdoor company, but will not retain any ownership in the entertainment company.
The
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