X0201 42003-11-11 0000739708 CLEAR CHANNEL COMMUNICATIONS INC CCU 0001096790 MAYS L LOWRY CLEAR CHANNEL COMMUNICATIONS 200 EAST BASSE ROAD SAN ANTONIO TX 78209 1100Chairman and CEOCommon Stock2003-05-065G010000000D7548291DCommon Stock2003-05-065G010000000A10000000IBy LLM Partners, Ltd.Common Stock2003-07-015G045000D0IBy Ralph Maddox Family TrustCommon Stock2003-09-245G0586822D0IBy SpouseCommon Stock2003-09-245G0586822A10586822Iby LLM Partners, Ltd.Common Stock2003-09-295G011800D7536491DCommon Stock2003-10-295G06111743D1424748DCommon Stock2003-10-295G06111743A16698565IBy LLM Partners, Ltd.Common Stock2003-11-114S0500042.16D1419748DCommon Stock2003-11-114S0720042.17D1412548DCommon Stock2003-11-114S01340042.18D1399148DCommon Stock2003-11-114S0120042.19D1397948DCommon Stock2003-11-114S0740042.20D1490548DCommon Stock2003-11-114S0180042.21D1388748DCommon Stock2003-11-114S060042.22D1388148DCommon Stock2003-11-114S060042.24D1387548DCommon Stock2003-11-114S01740042.25D1370148DCommon Stock2003-11-114S0500042.26D1365148DCommon Stock2003-11-114S0160042.27D1363548DCommon Stock2003-11-114S0130042.30D1362248DTransfer of shares to LLM Partners, Ltd., a limited partnership of which the reporting person is the sole general partner and of which the reporting person and his wife were then the sole limited partners.Transfer of shares from the Ralph Maddox Family Trust, of which the reporting person served as trustee for the benefit of the reporting person's children, upon termination of such trust and distribution of the assets of the trust to the trust beneficiaries.These shares previously reported as indirectly beneficially owned through grantor retained annuity trusts but returned to the reporting person's spouse in the form of scheduled annuity payments under the terms of such grantor retained annuity trusts.Gifts to various family members.The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 11, 2003.Includes 586,823 shares previously reported as indirectly beneficially owned through grantor retained annuity trusts, but returned to the reporting person's direct beneficial ownership in the form of scheduled annuity payments under the terms of such grantor retained annuity trusts. Also, since the reporting person's last report, 8,000,000 shares previously owned directly have been contributed to grantor retained annuity trusts. As of the date of this report, the reporting person beneficially owns 1,362,248 shares directly and 27,057,877 shares indirectly through a family trust, a charitable lead annuity trust, various grantor retained annuity trusts and a family limited partnership.L. Lowry Mays2003-11-11