Lower Expectations for Clear Channel

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Clear Channel Communications said last week that pro forma revenues for 2001 are expected to climb just 2%, to roughly $8.3 billion, compared with a 13% gain, to almost $6.9 billion, in 2000. Pre-tax earnings (EBITDA) are expected to grow 10% this year-less than half last year's growth (21%)-to $2.7 billion.