Clear Channel Communications was founded in 1972 when Lowry Mays and Red McCombs formed the San Antonio Broadcasting Company to acquire KEEZ-FM in San Antonio, Texas, for $125,000. In 1975, the company acquired WOAI-AM. This first Clear Channel radio station gave the company designation to its own frequency throughout the United States. Clear Channel radio stations have steadily increased the number of artists and songs played in approximately 50 formats. Between 1998 and 2002, the stations increased the number of songs played by 15,315 as well as the number of artists by 3,093. Stations in 70 markets devote airtime specifically to showcase new talent and some stations devote their entire format to local artists. The Clear Channel New Music Network assists artists in getting exposure to producers, agents and record labels. The network represents more than 20,000 bands. Its Web site streams nearly 10 channels of music.