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  • CC Media Holdings, Inc. (CCMO) Names Former Head of MTV New CEO to Oversee Global Media Properties and Outdoor Holdings 0 comments
    Oct 4, 2011 10:20 AM | about stocks: IHRT

    CC Media Holdings, Inc., a leading global media, digital and entertainment company, announced today the selection of Bob Pittman as the new Chief Executive Officer to run both the radio company Clear Channel Communications and the advertiser Clear Channel Outdoor. Pittman, the co-founder and former CEO of MTV networks, starts as CEO of the San Antonio based company effective immediately. Mark Mays, the former CEO of CC Media, will remain with the company as Chairman of the parent company and John Hogan, the head of Clear Channel Radio, will also remain with the company.

    “Over the past year, I’ve had the unique opportunity to look at the Clear Channel people and assets up close and have found myself increasingly drawn to the company, to the point where the chance to get even more deeply involved has just become irresistible,” said Bob Pittman, CEO, CC Media, in a press release statement on Monday. “I know first-hand that we have great people and the assets that allow them to do great things. We are so much more than just transmitters and broadcast towers – we leverage our local brands, personalities, strategic relationships and programming expertise to create unique experiences that forge real connections with consumers across our multiple platforms.”

    Bob Pittman joined CC Media in November 2010 as chairman of media and entertainment platforms. He is credited with co-founding MTV Networks, reshaping AOL to better suit consumers, and turning around brands like Six Flags Theme Parks, Century 21 Real Estate and Time Warner. Pittman is tasked with turning Clear Channel Communication, which owns 850 stations and has syndication agreements with 4,000 more, into a business focused on digital music.

    CC Media recently created iHeartRadio, a free digital radio station, and acquired digital music company Thumbplay earlier this year to compete with online rivals. The new iHeartRadio combines more than 850 radio stations from 150 cities with user created stations. At a recent Facebook f8 Conference, the radio station was recognized for its use of social media and technology.

    “I’m thrilled we were able recruit Bob into the CEO role at Clear Channel. He is the perfect fit to lead this incredibly powerful media platform. He embraces creativity, and has given employees the motivation and freedom to innovate, take risks and succeed,” said John Connaughton, Managing Director of Bain Capital which leads the group of private equity companies that acquired CC Media Holding in 2008, in the press release on Monday. “He thinks big, is not afraid of change and is intensely focused on driving new businesses, expanding our creative talent and maximizing the full value of Clear Channel’s extraordinary assets, ideas and people.”

    For more information, please visit ccmediaholdings.com

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    Stocks: IHRT
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