Former San Antonio businessman Red McCombs, the co-founder of Clear Channel Communications, died Sunday at the age of 95.
McCombs founded Clear Channel Communications in 1972 –then known as San Antonio Broadcasting Company — with Lowry Mays, who died in September of last year. Clear Channel — now known as iHeartMedia — grew to unparalleled heights after the founding by Mays and McCombs.
“Red was a visionary entrepreneur who touched many lives and impacted our community in immeasurable ways,” a statement from the McCombs family said. “But to us, he was always, first and foremost, ‘Dad’ or ‘Poppop.’ We mourn the loss of a Texas icon.”
McCombs was a professional sports franchise owner. He purchased the San Antonio Spurs on two separate occasions, and also owned the Minnesota Vikings and Denver Nuggets.
In addition to his broadcasting and professional sports ownership, McCombs began his career as a car salesman, eventually growing his portfolio to more than 50 dealerships.
A noted philanthropist, McCombs once said “The joy of giving never ceased to amaze me”. He donated $30 million to the M.D. Anderson Hospital at the University of Texas and the business school at the University was renamed in his honor after an additional $50 million donation.
