San Antonio, Texas – CC Media Holdings, the parent company
of radio station owner Clear Channel, announced on Monday that former AOL and
MTV Networks CEO Robert Pittman has made an equity investment in the company,
and was named chairman of media and entertainment platforms.
The amount of
Pittman’s investment in Clear Channel was not disclosed.
"Both as a former
operating executive and an investor, this is a dream addition to my
portfolio," said Pittman, whose first job was as a radio announcer at age
15.
"Bob will partner with [Clear Channel Radio president and CEO] John
Hogan both to help set strategic direction for radio and drive the effort to
expand our opportunities in the digital arena as well as amplify our outreach
to major advertising and marketing partners," said Clear Channel chairman
and CEO Mark Mays.
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