Clear Channel elevates John Hogan to chairman and CEO
The promotion of Hogan, who had been president and CEO, comes as the company continues to try to make itself over as a general entertainment company. It recently changed its name to Clear Channel Media and Entertainment from Clear Channel Radio and is planning an expansion into television and live entertainment.
Hogan has been with Clear Channel since 1999 and has managed to survive a few ownership changes during that time. The company is now part of CC Media Holdings Inc., whose chief executive is former AOL boss Bob Pittman and whose majority owners are private equity firms Bain Capital and Thomas H. Lee Partners.
Earlier this month, the companies deepened their relationship with Ryan Seacrest, whose morning show is carried by the radio giant. Bain Capital and Thomas H. Lee Partners committed up to $300 million to acquire and develop properties with Ryan Seacrest Media.
Last month, Clear Channel hired veteran cable and radio executive John Sykes as president of its newly created entertainment enterprise unit.
-- Joe Flint
Photo: John Hogan. Credit: Mark Boster/Los Angeles Times