From The Divine to the Ridiculous…Clear Channel Reports Record First Quarter 2004 Results

The Company’s live entertainment revenue increased 17% to $514.0 million during the first quarter of 2004 compared to the same period of 2003. Increased concert ticket sales from additional shows and higher attendance at events such as Bette Midler and Britney Spears drove the increase.

The Company also saw increased touring revenue from events such as David Bowie. Revenue from sponsorships was another contributing factor to the growth. Also underlying the revenue increase was approximately $16.4 million from foreign exchange.

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