Clear Channel Media and Entertainment Announces New Major Markets Structure

Clear Channel Media and Entertainment Announces New Major Markets Structure

New Major Markets Operating Group to Accelerate Decision-Making, Increase Flexibility and Enhance Focus On All of the Company ‘s Multi-Platform Assets

New York, NY March 14, 2014 – Clear Channel Media and Entertainment, the leading media company in America with a greater reach than any other radio or television outlet, announced today the creation of a Major Markets Operating Group. 

The Major Markets Operating Group will consist of four divisions under leaders who will report directly to Bob Pittman, Clear Channel’s Chairman and CEO.  Each will be in positions where they can make the greatest impact on operations and future growth in the company’s leading broadcast and revenue-generating markets, and better and more quickly serve the individual communities in which Clear Channel operates.  This more aligned operational management team will provide enhanced communication, collaboration and more efficient access to Clear Channel’s full range of multi-platform assets – including broadcast, digital and events, as well as overall company resources including research, revenue management, strategic analysis, corporate strategy and business affairs -- for the leaders of the individual markets and their advertising partners.

Effective today, the Major Markets Operating Group will consist of four divisions led by Hartley Adkins, Executive Vice President; Tom McConnell, Executive Vice President; Kelly Kibler, Senior Vice President; and Greg Ashlock, formerly President of Clear Channel Los Angeles, who will now expand his responsibilities as President of Clear Channel Southern California.  Matt Martin will continue in his position as President of Regional Markets.

“As a company we continue to assess every aspect of our operations to make sure we have the right structure in place to efficiently and effectively leverage our position as the country’s leading multi-platform media and entertainment company,” said Pittman.  “Our Major Markets Operating Group will collaborate with our local market management to oversee our entire spectrum of media and entertainment platforms in our largest and highest revenue-generating markets.  This includes everything from our core broadcast radio and its strong digital platform, whose traffic has doubled in the last year, and the extremely successful iHeartRadio digital platform – to events and our expanded coordination with Clear Channel Outdoor, all of which we are increasingly mobilizing to benefit our national and local advertising partners.”

Pittman continued, “It’s critical that we are able to coordinate and integrate our resources faster and more responsively.  With our new Major Markets Operating Group, we will accelerate our decision-making, increase our flexibility and improve results, as well as increase the empowerment and accountability of our individual market leaders.  We’re pleased to expand the responsibilities of these four strong leaders within Clear Channel.”

The company also announced today that Tom Schurr, President of Operations for Major Markets, has left the company.

“During his tenure with us, Tom played a big role in Clear Channel becoming the media and entertainment leader it is today,” said Pittman.  “I know all of Clear Channel Media and Entertainment joins me in thanking Tom for the many contributions he’s made to our company.”

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.