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Clear Channel Announces Bob Pittman Extends Contract As Chairman And CEO Of Clear Channel

Stocks in this article: CCO

Clear Channel Media and Entertainment will now report directly into Pittman and Clear Channel’s President and Chief Financial Officer, Rich Bressler. William Eccleshare continues as CEO of Clear Channel Outdoor and reports to Bob Pittman.

“John Hogan has made tremendous contributions to Clear Channel during his tenure – particularly during the unprecedented economic headwinds our country, our industry and our company, faced in 2008 and 2009,” said Pittman. “He has been an excellent partner for me and for Clear Channel’s leadership as we have evolved into the only multi-platform media company with national reach and the ability to execute locally.”

Pittman continued, “As my friend and partner in Clear Channel Media and Entertainment, John has been an important element in Clear Channel’s transformation into a multiplatform media company. There is never a perfect time to make big decisions like this, but his logic was compelling and making this change at the start of a new year made sense. We thank him for his long service and the enormous positive impact he's had on both our company and the radio industry, and we are delighted that John will remain part of the family with his title of Clear Channel Media and Entertainment Chairman emeritus.”

Since 2011, Clear Channel has focused on utilizing its unique national promotional capabilities to benefit major advertising and marketing partners by enabling them to leverage Clear Channel’s entire portfolio of assets to address their individual needs. In addition, a number of new initiatives have enabled Clear Channel to become a true multiplatform media company. The company’s businesses include:

Clear Channel Media and Entertainment, which reaches over 240 million people in the United States each month and includes:

  • Broadcast: The country’s largest radio group, which serves 150 markets through 840 owned radio stations such as New York’s Z100, Lite FM and Power 105, and Los Angeles’ KIIS-FM and KFI, and includes some of the industry’s best-known personalities, including Ryan Seacrest, Elvis Duran, Steve Harvey, Tom Brokaw, Mario Lopez, Rush Limbaugh, Charlamagne, Jay Mohr, Delilah, Sean Hannity and Bobby Bones;
  • Clear Channel Digital, which develops and operates iHeartRadio, the free, industry-leading digital radio product that combines access to all of Clear Channel’s live broadcast and digital-only radio stations as well as user-created Custom Stations. Clear Channel Digital also develops the companion digital products for each radio station brand, including strong social components with over 25 million Facebook likes for its stations, shows and personalities;
  • Media Services for the radio, media, digital, mobile and music industries, including Total Traffic and Weather Network (TTN), the leading provider of traffic, transit and weather information in the United States measured by customers and audience, reaching over 170 million users each month. TTN provides content to its affiliate partners at over 2,000 radio stations and 200 television stations as well as on the Internet, mobile devices and in-dash applications, and reaches more consumers and more audience than any other traffic provider in the industry; The Katz Media Group, the leading media representation firm in the US for radio and television stations; and RCS, which provides scheduling and broadcast software for radio, internet and television station in addition to research studies that aid the media and music businesses;
  • Premiere Radio Networks, which syndicates 90 radio programs and services to more than 5,000 radio affiliations and reaches the vast majority of all radio listeners. Premiere is the number one audio content provider in the country and features: Rush Limbaugh, Ryan Seacrest, Glenn Beck, Bob & Tom, Delilah, Steve Harvey, Blair Garner, George Noory, John Boy and Billy, Sean Hannity, Elvis Duran, Jason Lewis, Randi Rhodes, Nikki Sixx, Kane and others.

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO), is one of the world’s largest outdoor advertising companies, with more than 750,000 displays in over 40 countries across five continents, including 48 of the 50 largest markets in the United States. Clear Channel Outdoor Holdings offers many types of displays across its global platform to meet the advertising needs of its customers. This includes new interactive products using facial recognition and mobile devices and a growing digital platform that now offers 1081 digital displays across 38 U.S. markets.

About CC Media Holdings, Inc./Clear Channel Communications, Inc.

CC Media Holdings, Inc. (OTCBB:CCMO), the parent company of Clear Channel Communications, is one of the leading global media and entertainment companies specializing in radio, digital, outdoor, mobile, live events, and on-demand entertainment and information services for local communities and providing premier opportunities for advertisers.

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