X0201 42003-12-19 0000739708 CLEAR CHANNEL COMMUNICATIONS INC CCU 0001096790 MAYS L LOWRY CLEAR CHANNEL COMMUNICATIONS 200 EAST BASSE ROAD SAN ANTONIO TX 78209 1100Chairman and CEOCommon Stock2003-12-194S06250046.00D1237248DThe 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.L. Lowry Mays2003-12-19