UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934


                          Date of report: July 23, 2003


                       CLEAR CHANNEL COMMUNICATIONS, INC.
             (Exact Name of Registrant as Specified in Its Charter)

           TEXAS                     1-9645                  74-1787539
(State or other jurisdiction      (Commission              (IRS Employer
      of incorporation)           File Number)           Identification No.)


    200 East Basse Road, San Antonio, Texas                       78209
   (Address of principal executive offices)                     (Zip Code)


Registrant's telephone number, including area code            (210) 822-2828






ITEM 5. OTHER EVENTS.

         On July 23, 2003, Clear Channel Communications, Inc., a Texas
corporation (the "Company"), issued a press release announcing that its Board of
Directors has declared a quarterly cash dividend of $0.10 per share on its
common stock.

         Reference is made to the press release filed as Exhibit 99.1 hereto.
The information set forth in Exhibit 99.1 is hereby incorporated by reference
herein.

ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS

         (c) Exhibits

              99.1  Press Release of Clear Channel Communications, Inc. issued
                    July 23, 2003.


                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                 CLEAR CHANNEL COMMUNICATIONS, INC.


Date: July 23, 2003              By: /s/ HERBERT W. HILL JR.
                                    --------------------------------------------
                                    Herbert W. Hill, Jr.:
                                    Sr. Vice President/Chief Accounting Officer:





                                INDEX TO EXHIBITS


Exhibit No.                        Description
-----------                        -----------
             
   99.1         Press Release of Clear Channel Communications, Inc. issued
                July 23, 2003.