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Red McCombs, co-founder of Clear Channel, passes.

davideduardo

Moderator/Administrator
Staff member
"San Antonio business icon and philanthropist Billy Joe "Red" McCombs, who parlayed his massive success as a car dealer into ownership of the San Antonio Spurs (twice!), Denver Nuggets, and Minnesota Vikings, and, more importantly for RAMP readers -- famously co-founded Clear Channel (now iHeartMedia) with Lowry Mays in 1972 -- passed away at his home on Sunday, Feb. 19 at the age of 95."

More at Remembering Red McCombs
 
Further, from Inside Radio:

"B.J. “Red” McCombs, the San Antonio businessman who co-founded Clear Channel Communications with Lowry Mays, died at his home Sunday. He was 95.

The company that became the biggest ever in American radio history was started in 1972 by Mays with what was then known as San Antonio Broadcasting Company, later renamed Clear Channel and now known as iHeartMedia. It remains headquartered in San Antonio. In 1975, Mays partnered with McCombs to buy WOAI San Antonio (1200), after already acquiring KEEZ-FM.

“Red was a visionary entrepreneur who touched many lives and impacted our community in immeasurable ways,” the McCombs family said in a statement. “But to us he was always, first and foremost, ‘Dad’ or ‘Poppop.’ We mourn the loss of a Texas icon.”

Born in 1927 in Spur, TX, McCombs started his career as a car salesman, building an empire that at one point owned 50 dealerships under the name Red McCombs Automotive Group. His pursuits spanned oil, media, and professional sports. In 1973, the Texas businessman brought the NBA’s Spurs to San Antonio. In addition to owning the Spurs two separate times, McCombs also owned the NFL’s Minnesota Vikings and the NBA’s Denver Nuggets."

Full article at Clear Channel Co-founder Red McCombs Dies At 95.
 
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