Lowry Mays dies: Clear Channel Communications founder, iHeartMedia was 87 years old

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Lowry Mays, the founder of Clear Channel Communications, now known as iHeartMedia, has passed away. He was 87. It was Mays’ alma mater, Texas A&M University, who announced the businessman’s death on Monday, but did not reveal the cause of death.

“It was with sadness that we learned today of the passing of Lowry Mays. He was a true example of Aggie’s core values,” Texas A&M University president M. Katherine Banks said in a statement on the school’s website. “The Mays family has been a remarkable influence on business school, providing countless opportunities for students and faculty, as well as the university system through his service on the Board of Regents. Aggies is proud to continue its legacy of leadership and service.”

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Mays was born on July 24, 1935 in Harris County, Texas. He attended Texas A&M University, where he earned a degree in petroleum engineering. It was in 1972 when he founded the San Antonio Broadcasting Company, which later became known as Clear Channel Communications. In 1975, Mays teamed up with business partner Red McCombs and continued to purchase stations that increased their network and dominance in the communications industry.

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When Clear Channel Communications went public in 2008, Mays sold their stake in the company. Mays served two non-consecutive terms on the Texas A&M University System Board of Regents, including as chairman from 2003-2005.

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