SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0104 Estimated average burden hours per response: 0.5

1. Name and Address of Reporting Person* PAMET CAPITAL MANAGEMENT, LP (Last) (First) (Middle) 222 BERKELEY STREET, 22ND FLOOR (Street) BOSTON MA 02116 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 07/30/2008	3. Issuer Name and Ticker or Trading Symbol C C Media Holdings Inc [ CCMO ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock	2,480,128	I	See footnotes(1)(2)(3)(4)
Class A Common Stock	1,176,573	D(5)
Class A Common Stock	892,846	D(6)
Class A Common Stock	205,355	D(7)
Class A Common Stock	109,870	D(8)
Class A Common Stock	95,484	D(9)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* PAMET CAPITAL MANAGEMENT, LP (Last) (First) (Middle) 222 BERKELEY STREET, 22ND FLOOR (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* PAMET CAPITAL MANAGEMENT LLC (Last) (First) (Middle) 222 BERKELEY STREET, 22ND FLOOR (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* ABRAMS CAPITAL LLC (Last) (First) (Middle) 222 BERKELEY ST. 22ND FLOOR (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Abrams Capital Partners II, L.P. (Last) (First) (Middle) 222 BERKELEY STREET, 22ND FLOOR (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Riva Capital Partners L P (Last) (First) (Middle) 222 BERKELEY ST 22ND FL (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Whitecrest Partners, LP (Last) (First) (Middle) 222 BERKELEY STREET, 22ND FLOOR (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Abrams Capital International, Ltd. (Last) (First) (Middle) C/O PAMET CAPITAL MANAGEMENT, L.P. 222 BERKELEY STREET, 22ND FLOOR (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Abrams Capital Partners I, L.P. (Last) (First) (Middle) 222 BERKELEY STREET, 22ND FLOOR (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Riva Capital Management, LLC (Last) (First) (Middle) 222 BERKELEY STREET 22ND FLOOR (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Abrams Capital Management, LLC (Last) (First) (Middle) 222 BERKELEY STREET 22ND FLOOR (Street) BOSTON MA 02116 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. These securities represent, in the aggregate, the shares (the "Total Reported Shares") of Class A Common Stock held by the investment funds referenced in the notes below. 1,587,282 of the Total Reported Shares are held by the investment funds referenced in the notes below for which Pamet Capital Management, L.P. (the "LP") serves as investment adviser. Pamet Capital Management, LLC (the "LLC") serves as the general partner of the LP. In their respective capacities, each of the LP and the LLC may be deemed to beneficially own the reported securities.

2. 1,477,412 of the Total Reported Shares are held by the investment funds referenced in the notes below for which Abrams Capital, LLC ("Abrams Capital") serves as general partner. In such capacity, Abrams Capital may be deemed to beneficially own the reported securities.

3. 892,846 of the Total Reported Shares are held by Riva Capital Partners, L.P. for which Riva Capital Management, LLC ("Riva LLC") serves as general partner and for which Abrams Capital Management, LLC ("ACM") serves as investment adviser. In such capacity, Riva LLC and ACM may be deemed to beneficially own the reported securities.

4. Each Reporting Person disclaims beneficial ownership of the Total Reported Shares except to the extent of its pecuniary interest therein, and the inclusion of such securities in this report shall not be deemed an admission of beneficial ownership for purposes of Section 16 or for any other purpose.

5. These securities are held directly by Abrams Capital Partners II, L.P. and may be deemed to be owned beneficially by the LP, the LLC and Abrams Capital.

6. These securities are held directly by Riva Capital Partners, L.P. and may be deemed to be owned beneficially by Riva LLC and ACM.

7. These securities are held directly by Whitecrest Partners, LP and may be deemed to be owned beneficially by the LP, the LLC and Abrams Capital.

8. These securities are held directly by Abrams Capital International, Ltd. and may be deemed to be owned beneficially by the LP and the LLC.

9. These securities are held directly by Abrams Capital Partners I, L.P. and may be deemed to be owned beneficially by the LP, the LLC and Abrams Capital.

Remarks:

David C. Abrams is a director of the Issuer. The reporting persons (the "Abrams Entities") take the position that they are to be deemed directors of the Issuer for purposes of Section 16 of the Securities Exchange Act of 1934, because Mr. Abrams, directly or indirectly, controls the investment and voting decisions of the Abrams Entities with respect to the Issuer's securities and because Mr. Abrams serves as a director of the Issuer, in part, to represent the interests of the Abrams Entities.

	/s/ Pamet Capital Management, L.P., by Pamet Capital Management, LLC, the general partner, by David Abrams, Managing Member	08/08/2008
	/s/ Pamet Capital Management, LLC by David Abrams, Managing Member	08/08/2008
	/s/ Abrams Capital, LLC, by David Abrams, Managing Member	08/08/2008
	/s/ Riva Capital Management, LLC by David Abrams, Managing Member	08/08/2008
	/s/ Abrams Capital Management, LLC by David Abrams, Managing Member	08/08/2008
	/s/ Abrams Capital Partners II, L.P., by Abrams Capital, LLC, the general partner, by David Abrams, Managing Member	08/08/2008
	/s/ Riva Capital Partners, L.P. by Riva Capital Management, LLC, the general partner, by David Abrams, Managing Member	08/08/2008
	/s/ Whitecrest Partners, L.P. by Abrams Capital, LLC, the general partner, by David Abrams, Managing Member	08/08/2008
	/s/ Abrams Capital International, Ltd. by Pamet Capital Management, L.P., its investment adviser, by Pamet Capital Management, LLC, the general partner, by David Abrams, Managing Member	08/08/2008
	/s/ Abrams Capital Partners I, L.P. by Abrams Capital, LLC, the general partner, by David Abrams, Managing Member	08/08/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.