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TheStreet Open House

Clear Channel Radio And Cumulus Media Join To Bring Consumers More Choice For Digital Radio And Daily Deals

Stocks in this article: CMLS

Clear Channel Radio, the leading media company in America with a greater reach than any other radio or television outlet, and Cumulus Media Inc. (NASDAQ: CMLS), the largest pure-play radio broadcaster in the United States, today announced an agreement that will extend both companies’ digital reach and benefit consumers by offering them more choice, more value and a more comprehensive experience both digitally and locally.

Under the agreement, the 570 Cumulus radio stations in 120 markets will be available on the New iHeartRadio platform wherever it is offered, including the Web, mobile devices and automobile. Clear Channel Radio will also advertise daily deals from Cumulus Media’s SweetJack, the rapidly growing deals platform that provides local merchants – including the best restaurants, spas, salons, stores and venues -- the promotional power of radio.

The New iHeartRadio is Clear Channel’s free, industry-leading digital radio service that offers more than 800 broadcast and digital-only radio stations from 150 cities plus the ability to create custom radio stations, delivering listeners everything they want in one fully integrated service. While Cumulus will continue to stream its stations on its own station websites and mobile apps, the New iHeartRadio platform will serve as the sole digital aggregator for Cumulus stations, which will all advertise iHeartRadio on-air and feature a link to iHeartRadio on all their websites.

Created by Cumulus just this past April, SweetJack’s daily deals platform has already grown its user base to more than one million members in sixteen markets. Significant national expansion will continue in 2012, offering consumers savings of up to 85% through the web, email links or smartphones. This agreement means that SweetJack’s national radio daily deals platform will be powered by advertising on almost 1,400 radio stations and station websites across the country.

SweetJack is available at www.SweeetJack.com and the iPhone, iPad and iPod Touch as well as through Cumulus radio station websites.

“The fact that Cumulus chose iHeartRadio as the digital platform for all of its radio stations underscores how quickly the New iHeartRadio has become the digital destination of choice to give listeners the best and most complete online radio experience,” said Bob Pittman, CEO of Clear Channel. He added, "Radio connects local businesses to consumers like no other medium can, and we're looking forward to helping our listeners find even more great deals right in their own backyards with SweetJack."

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