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Clear Channel Facing Unclear Future


Media giant has four years to restructure its debt to avoid collapse.

These days, the future at Clear Channel Communications is anything but clear.

According to the New York Post, the company -- which is the nation's largest owner of radio stations -- has "been unsuccessfully negotiating with some lenders to refinance its crippling debt." If the company proves unable to change its capital structure, it will default on its $18.4 billion debt.

With over 900 radio stations, Clear Channel far outpaces its competition, including owners CBS Radio (CBS) and Cumulus Media (CMLS).

So, how could this media giant get so close to the brink?

Join Josh Lipton for a closer look.

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