VIAB (Viacom Class B shares) formerly CBS Message Board

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Technology Stocks : VIAB (Viacom Class B shares) formerly CBS

VIA 33.12

-0.8%

3:59 PM EST

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To: Fred Fraschetti who wrote (2501)	9/10/1998 7:10:00 PM
From: MGV	Read Replies (1) of 4613

Radio, television and outdoor juggernaut Clear Channel Communications (CCU) said after the bell Thursday it's authorized a buyback of up to $5000 million of its common stock. The shares will be purchased over the next 12 months on the open market or in private transactions, from time to time. Clear Channel Chairman and CEO Lowry Mays said: "This action underscores our board's optimism about the company's continued success and ... future prospects." Media shares drop again Media shares fell along with the general market Thursday. Among the hardest hit were radio players. CBS (CBS) fell 2 3/16 to 24 1/16, Chancellor Media (AMFM) 4 3/4 to 25 3/4, Clear Channel Communications (CCU) 1 to 40 7/8. See the CBS MarketWatch Media Indexes.

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