Clear Channel Media and Entertainment Announces New Major Markets Structure
New Major Markets Operating Group to Accelerate Decision-Making, Increase Flexibility and Enhance Focus On All of the Company ‘s Multi-Platform Assets
New York, NY – March 14, 2014 – Clear Channel Media and Entertainment, the leading media company in America with a greater reach than any other radio or television outlet, announced today the creation of a Major Markets Operating Group.
The Major Markets Operating Group will consist of four divisions under leaders who will report directly to Bob Pittman, Clear Channel’s Chairman and CEO. Each will be in positions where they can make the greatest impact on operations and future growth in the company’s leading broadcast and revenue-generating markets, and better and more quickly serve the individual communities in which Clear Channel operates. This more aligned operational management team will provide enhanced communication, collaboration and more efficient access to Clear Channel’s full range of multi-platform assets – including broadcast, digital and events, as well as overall company resources including research, revenue management, strategic analysis, corporate strategy and business affairs -- for the leaders of the individual markets and their advertising partners.
Effective today, the Major Markets Operating Group will consist of four divisions led by Hartley Adkins, Executive Vice President; Tom McConnell, Executive Vice President; Kelly Kibler, Senior Vice President; and Greg Ashlock, formerly President of Clear Channel Los Angeles, who will now expand his responsibilities as President of Clear Channel Southern California. Matt Martin will continue in his position as President of Regional Markets.
“As a company we continue to assess every aspect of our operations to make sure we have the right structure in place to efficiently and effectively leverage our position as the country’s leading multi-platform media and entertainment company,” said Pittman. “Our Major Markets Operating Group will collaborate with our local market management to oversee our entire spectrum of media and entertainment platforms in our largest and highest revenue-generating markets. This includes everything from our core broadcast radio and its strong digital platform, whose traffic has doubled in the last year, and the extremely successful iHeartRadio digital platform – to events and our expanded coordination with Clear Channel Outdoor, all of which we are increasingly mobilizing to benefit our national and local advertising partners.”
Pittman continued, “It’s critical that we are able to coordinate and integrate our resources faster and more responsively. With our new Major Markets Operating Group, we will accelerate our decision-making, increase our flexibility and improve results, as well as increase the empowerment and accountability of our individual market leaders. We’re pleased to expand the responsibilities of these four strong leaders within Clear Channel.”
The company also announced today that Tom Schurr, President of Operations for Major Markets, has left the company.
“During his tenure with us, Tom played a big role in Clear Channel becoming the media and entertainment leader it is today,” said Pittman. “I know all of Clear Channel Media and Entertainment joins me in thanking Tom for the many contributions he’s made to our company.”