OFDM communications system employing crest factor reduction with ISI control

A system and method for providing a peak power reduced OFDM communications signal are disclosed. The system and method provide peak reduction processing in the time domain followed by inter-symbol interference (ISI) control processing in the frequency domain to maintain modulation errors introduced by the peak reduction processing to an acceptable level. The processing is preferably done on a parallel signal path and the peak corrections with ISI control are added into the main signal path to provide the peak reduced OFDM signal.