Clear Channel Radio Acquires Thumbplay Subscription Music Business

March 1, 2011

San Antonio, New York - Mar 1, 2011 - Clear Channel Radio will acquire the Thumbplay cloud-based music service, platform and team of mobile technology, product and marketing experts. The acquisition does not include Thumbplay's ringtone business.

The acquisition will enable Clear Channel to leverage Thumbplay's music technology and services, and combine the efforts of both the Clear Channel and Thumbplay technology, product and marketing teams to develop and grow Clear Channel's iHeartRadio digital products. In addition, the new iHeartRadio platform will power Clear Channel's 750 radio stations from 150 cities and the company's digital-only commercial-free stations, and provide a variety of new features and functionality, including enabling listeners to create their own personalized radio stations. Thumbplay will also give Clear Channel the capability to deploy a variety of subscription services.

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