CC Media Holdings, Inc. today announced that John Hogan, chairman and CEO of Clear Channel Media and Entertainment, is retiring and has been awarded the title of Chairman emeritus of Clear Channel Media and Entertainment. In the same announcement Bob Pittman, chairman and CEO of CC Media Holdings has extended his contract for an additional 5-year term.
Hogan joined Clear Channel in 1999 when the company acquired Jacor Communications, where he was SVP of radio. He was named COO of Clear Channel Radio two years later, and became president and CEO of Clear Channel Radio in 2002. He was named as chairman and CEO of Clear Channel Media and Entertainment in February 2012.
"John Hogan has made tremendous contributions to Clear Channel during his tenure -- particularly during the unprecedented economic headwinds our country, our industry and our company, faced in 2008 and 2009," said Pittman in a statement. "He has been an excellent partner for me and for Clear Channel's leadership as we have evolved into the only multi-platform media company with national reach and the ability to execute locally."
Clear Channel Media and Entertainment will now report directly into Pittman and Clear Channel's President and Chief Financial Officer, Rich Bressler. William Eccleshare continues as CEO of Clear Channel Outdoor and reports to Bob Pittman.
Pittman joined Clear Channel in November 2010 as an investor and the company's Chairman of Media and Entertainment Platforms, became the CEO in 2011 and added the Chairman responsibilities in 2013.
"I initially took on this role because of the one-of-a-kind assets at Clear Channel, with greater reach than any other media company in America, and its people, who have both the creativity and the drive to reinvent the company," said Pittman in a statement. "The opportunity was irresistible -- and it's been validated by the success of the iHeartRadio digital service, which reached 20 million registered users faster than any service in the history of the Internet -- as well as the transformation of Clear Channel Outdoor to a true media company that connects brands to consumers in increasingly innovative ways, from digital boards to interactive bus shelters to virtual stores connected by mobile devices. The progress we've made in the last two years has exceeded my expectations and I'm excited to commit to another five years with this amazing team of dedicated innovators."
Clear Channel Media and Entertainment, according to the company, reaches over 240 million people in the United States each month and includes broadcast with 840 owned radio stations; Clear Channel Digital with its iHeartRadio product; Media Services for the radio, media, digital, mobile and music industries including Total Traffic and Weather Network; Premiere Radio Networks, which syndicates 90 radio programs and services to more than 5,000 radio affiliates; Clear Channel Outdoor Holdings, Inc. an outdoor advertising company with more than 750,000 displays in over 40 countries across five continents.