Bob Pittman, who joined Clear Channel [1] in Nov./10 as an investor and the company’s chairman of media and entertainment platforms, has been named CEO of CC Media Holdings Inc. a leading global media, digital and entertainment company.
[2]Pittman will join the Board of Directors of CC Media Holdings Inc. and Clear Channel Communications Inc. as well as the Board of Directors of Clear Channel Outdoor Holdings Inc., as its executive chairman..
In his new role, Pittman will oversee the company’s businesses, which include:
Clear Channel Outdoor Holdings, which is one of the world’s largest outdoor advertising companies with close to 1 million displays in over 40 countries across five continents. Clear Channel Outdoor includes:
- Americas Outdoor Advertising, which owns or operates nearly 190,000 displays across the United States, Canada and Latin America including operations in 49 of the 50 largest markets in the United States. The Americas business consist of various types of displays that include billboards; street furniture; transit displays; the Clear Channel Airports division, which is the premier innovator of contemporary display concepts and currently operates more than 260 airport programs across the globe; mall displays; wallscapes; and spectaculars including Spectacolor, a market leader in spectacular sign displays, with displays located in New York’s Times Square. The Company has been a leader in the development and operation of digital displays and networks across many of its U.S. markets.
- International Outdoor Advertising operates across Asia, Australia and Europe with displays across nearly 30 countries. The International business consists of street furniture and transit displays, billboards, mall displays, wallscapes and spectaculars. Clear Channel International’s street furniture division operates over 3,500 municipal advertising contracts worldwide.
Clear Channel Radio, which serves 150 cities through 850 owned radio stations and an additional 100 cities and 4,000 stations through its syndicated Premiere Radio Networks products. Clear Channel Radio also includes:
- 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;
- Media Services for the radio, media, digital, mobile and music industries, including Total Traffic Network, a groundbreaking programming and technology service delivering real-time traffic data to vehicles via in-car and portable navigation systems, broadcast media, wireless and Internet-based services; 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.
Pittman will also remain a founding member of Pilot Group LLC [3], a New York-based private investment firm. He has been CEO of MTV Networks [4], AOL Networks [5], Six Flags Theme Parks [6], Quantum Media [7], Century 21 Real Estate [8], and Time Warner Enterprises [9]. He was also COO of America Online Inc. [10] and AOL Time Warner [9]. Pittman, who began his career at age 15, is the former chairman of the Robin Hood Foundation [11] and the Public Theater of New York [12], and still serves on those boards, in addition to several others.
“Pittman has already generated a renewed sense of confidence and direction not only at Clear Channel, but across the entire radio and media landscape,” said Scott Sperling, co-president of THL Partners.
“Pittman is the perfect fit to lead this incredibly powerful media platform,” says John Connaughton, managing director of Bain Capital. “He embraces creativity, and has given employees the motivation and freedom to innovate, take risks and succeed. 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.”