MEDIA
02/16/2009 05:12 am ET | Updated May 25, 2011

Clear Channel To Restructure, Cut $400 Million In Costs

The new owners of radio giant Clear Channel Communications will next week begin implementing a massive restructuring plan that seeks to cut $400 million in costs at the company, The Post has learned.

According to three sources with knowledge of the plan, the restructuring will include layoffs across the company's radio, outdoor advertising and international divisions as well as cuts to programming budgets and consolidation of back-office operations.

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