CC MEDIA HOLDINGS, INC. REPORTS RESULTS FOR 2013 FOURTH QUARTER AND FULL YEAR

CC Media Holdings, Inc. Reports Results for 2013 Fourth Quarter and Full Year

Full year revenues totaled $6.2 billion, including 2% increase at Media+Entertainment (up 4% excluding political1), with Outdoor flat
 
2013 OIBDAN1 reached $1.7 billion, including 4% growth at Americas Outdoor, 9% increase at International Outdoor, excluding foreign exchange and divestitures, and 2% decline at Media+Entertainment

Fourth quarter revenues flat (excluding political, revenues rose 4%, with Media+Entertainment up 8%)
 
San Antonio, February 20, 2014 – CC Media Holdings, Inc. (OTCBB: CCMO) today reported financial results for the fourth quarter and full year ended December 31, 2013.
 
“With our unmatched reach and unparalleled assets, we outperformed the radio market and capitalized on the growing out-of-the-home consumer trend in 2013,” Chairman and Chief Executive Officer Bob Pittman said.  “Clear Channel continued to create new businesses based on the strength of our core assets and to provide customized multi-platform market solutions to advertising partners that nobody else can.  At Media+Entertainment, we further expanded our events business – reaching nearly 4 billion social impressions with December’s Jingle Ball national tour, following up on September’s iHeartRadio Music Festival’s 2.3 billion social impressions.  We also partnered with The CW Network to air 7 shows on broadcast TV, reaching over 50 million TV viewers.  Our results at Outdoor reflected our sharp focus on rolling out new digital products in the U.S. and internationally, and on taking advantage of fast-growing emerging markets in Latin America and Asia.  As America’s leading multi-platform media company as measured by reach, we look forward to continuing to serve advertisers and consumers even better in 2014.”
 
“We succeeded this year in delivering a steady financial performance while investing for future growth across the company, despite challenging economic conditions,” said Rich Bressler, President and Chief Financial Officer.  “We hired top-caliber leaders at both Media+Entertainment and Outdoor, while executing on our revenue and efficiency initiatives that are building a strong foundation for our long-term success.  Importantly, our capital markets activities over the past months – including extending our maturities and selling non-core assets, like our stake in radio assets in Australia/New Zealand – have given us the financial flexibly to continue to grow our businesses.”

About iHeartMedia, Inc.

iHeartMedia (NASDAQ: IHRT) is the number one audio company in the United States, reaching nine out of 10 Americans every month. It consists of three business groups.

With its quarter of a billion monthly listeners, the iHeartMedia Multiplatform Group has a greater reach than any other media company in the U.S. Its leadership position in audio extends across multiple platforms, including more than 860 live broadcast stations in over 160 markets nationwide; its National Sales organization; and the company’s live and virtual events business. It also includes Premiere Networks, the industry’s largest Networks business, with its Total Traffic and Weather Network (TTWN); and BIN: Black Information Network, the first and only 24/7 national and local all news audio service for the Black community. iHeartMedia also leads the audio industry in analytics, targeting and attribution for its marketing partners with its SmartAudio suite of data targeting and attribution products using data from its massive consumer base.

The iHeartMedia Digital Audio Group includes the company’s fast-growing podcasting business -- iHeartMedia is the number one podcast publisher in downloads, unique listeners, revenue and earnings -- as well as its industry-leading iHeartRadio digital service, available across more than 500 platforms and 2,000 devices; the company’s digital sites, newsletters, digital services and programs; its digital advertising technology companies; and its audio industry-leading social media footprint.

The company’s Audio & Media Services reportable segment includes Katz Media Group, the nation’s largest media representation company, and RCS, the world's leading provider of broadcast and webcast software.

Visit iHeartMedia.com for more company information.