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                                                                    EXHIBIT 99.4

CAPSTAR COMMUNICATIONS, INC. EXTENDS OFFER TO
PURCHASE OUTSTANDING 10 3/4% SENIOR SUBORDINATED NOTES

         AUSTIN AND DALLAS, TEXAS, OCTOBER 26, 1999 -- Capstar Communications,
Inc. ("Capstar Communications"), an indirect subsidiary of AMFM Inc. (NYSE:AFM)
("AMFM"'), announced today that it has extended the expiration date on and
redetermined the price of its tender offer relating to its outstanding 10 3/4%
Senior Subordinated Notes due 2006 (the "Notes"). The tender offer is being made
concurrently with a solicitation of consents to proposed amendments to eliminate
certain restrictive covenants and to amend certain other provisions of the
indenture pursuant to which the Notes were issued.

         The Expiration Date of the tender offer has been extended to 5:00 p.m.,
New York City time, on Tuesday, November 9, 1999, unless further extended (the
"Expiration Date"). Holders of Notes who validly tender (and do not withdraw)
their Notes at or prior to the Expiration Date will receive the Offer
Consideration (as defined below) if the tender offer is completed. Capstar
Communications reserves the right for any reason to terminate the tender offer
and solicitation at any time prior to 5:00 p.m., New York City time, on the
Expiration Date.

         The consideration (the "Offer Consideration") to be paid for each
$1,000 in principal amount of the Notes tendered and not withdrawn pursuant to
the tender offer will be the greater of (i) $1,086.16, or (ii) a price based on
the spread of 50 basis points over the yield to maturity on the 5.625% U.S.
Treasury Note due May 15, 2001, as calculated at 12:00 noon, New York City time,
on Thursday, November 4, 1999 (less a cash payment of $30.00 per $1,000 in
principal amount of Notes as to which a valid consent has been delivered and
which has not been revoked prior to the Expiration Date (the "Consent
Payment")), plus, in the case of either (i) or (ii), the Consent Payment and
accrued and unpaid interest up to, but not including, the Expiration Date of
$51.66 per $1,000 principal amount of Notes. The Offer Consideration as
determined above will be published on November 4, 1999 by the release of
information through a business news service which is recognized by the SEC, the
stock exchanges and the NASD as an outlet which meet the specific guidelines for
the public disclosure of material news.

         Holders who tender their Notes are obligated to consent to the proposed
amendments to the Indenture and may not deliver consents without tendering
Notes.

         Consummation of the tender offer and consent solicitation, and payment
of the Offer Consideration, are subject to the satisfaction or waiver by Capstar
Communications of various conditions, including the receipt by Capstar
Communications of validly tendered (and not withdrawn) Notes and consents with
respect thereto in an aggregate amount equal to at least a majority in aggregate
principal amount of the outstanding Notes.

         Deutsche Bank Securities Inc. is the Dealer Manager (the "Dealer
Manager") and MacKenzie Partners, Inc. is the Information Agent (the
"Information Agent") for the tender offer and consent solicitation. The tender
offer and consent solicitation are being made pursuant to an Offer to Purchase
and Consent Solicitation Statement and the related Consent and Letter of
Transmittal, which more fully set forth the terms of the tender offer and
consent solicitation. Questions and requests for additional information
concerning the terms of the tender offer and consent solicitation, tendering
Notes and the delivery of consents and conditions to the tender offer and
consent solicitation may be directed to the Dealer Manager by calling (212)
250-3231 or the Information Agent by calling (800) 322-2885. Additional copies
of the Offer to Purchase and Consent Solicitation Statement and related
documents may be obtained by calling the Information Agent.


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         Capstar Communications is an indirect subsidiary of AMFM, the nation's
largest radio broadcasting entity, consisting of the AMFM Radio Group, including
the AMFM Radio Networks and the Chancellor Marketing Group, and the AMFM New
Media Group, including Katz Media and AMFM's Internet operations. Reflecting
announced transactions, AMFM Radio Group with over 440 stations in 100 markets
reaches a weekly listener base of approximately 64 million people. The AMFM
Radio Networks offers syndicated programming nationwide. Chancellor Marketing
Group is a full-service sales promotion firm developing integrated marketing
programs for Fortune 1000 companies. AMFM's Katz Media is the only full-service
media representation firm in the United States serving multiple types of
electronic media. AMFM's Internet operations focus on developing AMFM's
E-commerce web sites, streaming online broadcasts of AMFM's on-air programming
and other media, and promoting emerging Internet and new media concerns.

         AMFM has entered into a merger agreement with Clear Channel
Communications, Inc. pursuant to which AMFM's stockholders will receive 0.94
shares of Clear Channel common stock for each share of AMFM common stock held on
the record date of the transaction and AMFM will become a wholly owned
subsidiary of Clear Channel. The merger with Clear Channel is not expected to be
consummated until the second half of 2000, and will have no impact on the tender
offer and solicitation.

         This news announcement contains certain forward-looking statements that
are based upon current expectations and involve certain risks and uncertainties
within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Key risks are described in Capstar Communications reports filed with the U.S.
Securities and Exchange Commission. Readers should note that these statements
may be impacted by several factors, including economic changes and changes in
the broadcasting industry generally and, accordingly, Capstar Communications'
actual performance and results may vary from those stated herein and Capstar
Communications undertakes no obligation to update the information contained
herein.

         This announcement supersedes all previous announcements with respect to
the tender offer and consent solicitation for the Notes.


For more information contact:

         Kevin Mischnick
         AMFM Inc.
         Telephone No. (512) 340-7800