Clear Channel Becomes iHeartMedia

Clear Channel announced today (Sept. 16) that it has become iHeartMedia. The newly named company includes a wide range of advertising-supported, consumer-focused media businesses, including 859 radio stations in over 150 markets, iHeartMedia Digital, Premiere Networks, the Total Traffic and Weather Network,20,000 live music events, its related companies, including Katz Media Group, and Clear Channel Outdoor, one of the world’s largest outdoor advertising companies. Clear Channel Outdoor Holdings, Inc. will retain the Clear Channel brand.
“iHeartMedia reflects our commitment to being the media company that provides the most entertainment to the most engaged audiences wherever they go, with more content and more events in more places on more devices,” said Bob Pittman, Chairman and CEO of iHeartMedia, Inc. “We have massive consumer reach and influence across our platforms because we know how to program the live content people want to hear, see and share right now, we are the largest mobile media company in existence — more than 60 percent of our broadcast usage is out of home, compared to just 30 percent for other mobile devices – and we deliver more live programming than any other media company today, built on the national and local on-air personalities who are the heart of our powerful broadcast radio franchises. Combined with Clear Channel Outdoor’s reach of over half a billion people worldwide across 30 countries and five continents, it’s clear that no other company can match our reach or broad spectrum of media platforms.”
In connection with the company’s new brand, the company’s ticker symbol (OTCCB: CCMO will also change, effective Sept. 17. Of the company’s major businesses, Clear Channel Media and Entertainment will become iHeartMedia; other company brands, including iHeartRadio, Premiere Networks, Total Traffic and Weather Network, Katz Media Group and RCS, will retain their current names.