Clear Channel Aquires WBIP-FM from Community Broadcasting of Mississippi

FOR IMMEDIATE RELEASE

August 20, 2001

Clear Channel Communications has agreed to purchase the assets of radio station WBIP-FM, Boonville, Mississippi from Community Broadcasting Services of Mississippi, Inc., for $700,000.*

George R. Reed served as the exclusive broker on this transaction and represented the seller.

* Pending FCC Approval

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