San Antonio - Nov 15, 2010 - Robert W. Pittman, former chief executive officer of MTV Networks and AOL Networks and former chief operating officer of America Online and AOL Time Warner, has made a personal equity investment in CC Media Holdings and Clear Channel Communications and will serve as its chairman of Media and Entertainment Platforms. In this role, Pittman will work closely with the newly formed Operating Committee of the Board of Directors and the management team to leverage the company's collection of media assets and spearhead the further development of a comprehensive, integrated digital strategy for Clear Channel in the radio business. Pittman will maintain his current position as founding member of Pilot Group, a private equity firm, and continue his activities as a venture investor.
Clear Channel Radio, led by its president and chief executive officer John Hogan will report to the Operating Committee of the Board through Pittman. Clear Channel says this reflects the long-term strategic importance of the core radio business to the company, and the company's focus on further development and execution of opportunities in the digital arena.
"Clear Channel's unique combination of national audience and powerful local execution enables us to promote new products and features to our audience quickly and on a mass level," noted Pittman. "This offers a real opportunity to enhance the experience for consumers, provide powerful marketing opportunities for advertising partners, and develop new, high growth digital businesses for the company that builds on the 12 million unique monthly visitors we already reach online today. "
Pittman began his career programming successful radio stations in Pittsburgh, Chicago and finally at WNBC in New York City. He was the programmer who led the team that created MTV, and in addition to having served as chief executive officer of MTV Networks and AOL Networks and chief operating officer of America Online and AOL Time Warner, he has also served as chief executive officer of Six Flags Theme Parks, Time Warner Enterprises and Century 21 Real Estate. His honors include being inducted into the Broadcasting and Cable Hall of Fame and receiving the International Radio and Television Society's Gold Medal award. Pittman has served on the boards of America Online, AOL Time Warner, Cendant, Electronic Arts, and Roberts Radio. He has also served as chairman of the Robin Hood Foundation and The Public Theater, and currently serves on the boards of other charitable and non-profit organizations.