Clear Channel Communications Founder Was 87 –

Lowry Mays, founder of Clear Channel Communications, now known as iHeartMedia, has died. He was 87 years old. Mays’ alma mater, Texas A&M University, announced that the businessman had died on Monday, but did not disclose the cause of death.

“We are saddened by the news of the passing of Lowry Mays today. He truly embodied Aggie’s core values,” Texas A&M University President M. Katherine Banks said in a statement released at the school conference. Web site. “The Mays family has had a significant impact on the business school, providing countless opportunities for students and faculty, and on the university system through his work on the Board of Trustees. Aggie is proud to continue her legacy of leadership and service.”

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Mays was born July 24, 1935 in Harris County, Texas. He attended Texas A&M University where he received a degree in petroleum engineering. It was in 1972 that he founded the San Antonio Broadcasting Company, which later became known as Clear Channel Communications. In 1975 Mays teamed up with business partner Red McCombs and continued to buy stations, expanding his network and dominating the communications industry.

When Clear Channel Communications went private in 2008, Mays sold his stake in the company. Mays served two consecutive terms on the Board of Trustees of the Texas A&M University System, including serving as chairman from 2003 to 2005.

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