Who Founded iHeartMedia?

Lowry Mays co-founded Clear Channel Communications in 1972 when he and Red McCombs bought KEEZ-FM in San Antonio. He ran the company as a financial operation: cut costs, centralize programming and buy more stations. After the 1996 Telecommunications Act, he used that approach to grow Clear Channel into the largest U.S. radio group, with about 1,200 stations, and also into outdoor advertising and live events. His son Mark Mays was CEO from 2004 to 2010. The family stayed involved through the 2008 buyout by Bain Capital and Thomas H. Lee Partners.

Lowry Mays was born in 1935. Education: Harvard Business School; Harvard University; Texas A&M University.

B.J. "Red" McCombs built a large car dealership business in San Antonio and partnered with Lowry Mays in 1972 to buy the radio station that became Clear Channel's first property. He brought capital and deal-making experience while Mays ran operations. McCombs was also known for owning professional sports teams and for his donations to the University of Texas, whose McCombs School of Business is named for him. He died in February 2023.

Red McCombs was born in 1927. Education: University of Texas School of Law.