-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 4M0rUC2GoyT1NUzdEtNoLg==

<SEC-DOCUMENT>0001209191-08-044217.txt : 20080730
<SEC-HEADER>0001209191-08-044217.hdr.sgml : 20080730
<ACCEPTANCE-DATETIME>20080730120433
ACCESSION NUMBER:		0001209191-08-044217
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080730
FILED AS OF DATE:		20080730
DATE AS OF CHANGE:		20080730

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MAYS L LOWRY
		CENTRAL INDEX KEY:			0001096790

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09645
		FILM NUMBER:		08978093

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		2108222828

	MAIL ADDRESS:	
		STREET 1:		CLEAR CHANNEL COMMUNICATIONS
		STREET 2:		200 EAST BASSE ROAD
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78209

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CLEAR CHANNEL COMMUNICATIONS INC
		CENTRAL INDEX KEY:			0000739708
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO BROADCASTING STATIONS [4832]
		IRS NUMBER:				741787536
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		200 E BASSE RD
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78209
		BUSINESS PHONE:		2108222828

	MAIL ADDRESS:	
		STREET 1:		200 EAST BASSE ROAD
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78209
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bod58847_bod1llm.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
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    <periodOfReport>2008-07-30</periodOfReport>

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            <rptOwnerName>MAYS L LOWRY</rptOwnerName>
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            <rptOwnerState>TX</rptOwnerState>
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            <rptOwnerStateDescription></rptOwnerStateDescription>
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            <isOfficer>1</isOfficer>
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            <officerTitle>Executive Chairman</officerTitle>
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    <derivativeTable>
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                    <value>D</value>
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                <value>2005-02-16</value>
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                <value>2015-02-16</value>
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        <derivativeTransaction>
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                <value>31.7200</value>
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                    <value>250000</value>
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                    <footnoteId id="F3"/>
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                <transactionAcquiredDisposedCode>
                    <value>D</value>
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            <exerciseDate>
                <value>2005-12-22</value>
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                <value>2015-12-22</value>
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                    <value>250000</value>
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                    <value>0</value>
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    <footnotes>
        <footnote id="F1">Disposed of pursuant to merger agreement (the &quot;Merger Agreement&quot;) between Clear Channel Communications, Inc. and BT Triple Crown Merger Co., Inc. (&quot;MergerCo&quot;), B Triple Crown Finco, LLC, T Triple Crown Finco, LLC and CC Media Holdings, Inc. (&quot;CC Media&quot;), as amended in exchange for, on a per share basis, either a cash payment of $36.00 or one share of  CC Media Class A Common Stock (&quot;Class A Stock&quot;).</footnote>
        <footnote id="F2">These options were canceled in connection with the merger of the issuer and MergerCo.</footnote>
        <footnote id="F3">These options were exchanged in connection with the merger for options to purchase shares of Class A Stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ L. Lowry Mays</signatureName>
        <signatureDate>2008-07-30</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----