226 clearchanne

The document summarizes Clear Channel Communications, Inc.'s spin-off of its wholly owned subsidiary CCE Spinco, Inc. into an independent public company to be known as Live Nation. Key details include: - CCE Spinco assumed the liabilities and operations of Clear Channel's live entertainment and sports representation businesses. - Clear Channel stockholders received one share of CCE Spinco common stock for every eight shares of Clear Channel stock held. - Agreements were put in place to govern the separation, distribution, and ongoing relationship between the two companies, including release of liabilities, indemnification, and tax matters.