Clear Channel Exploring Debt, Credit Options

• December 24, 2010

CC Media Holdings, the parent of outdoor and radio giant Clear Channel Communications, this morning issued a statement saying it is "exploring a diverse array of alternatives in an effort to optimize their overall capital structure."

The media holding company said those alternatives may include new credit facilities and more debt to what is already a highly leveraged enterprise.

The company said proceeds from any new credit facilities would be used to refinance existing debt.