MTV Founder Becomes Chairperson of Clear Channel

October 03 00:00 2011

New York, October 3 (RainbowNewsLine.com) – The founder of MTV channel has chosen his first head of Clear Channel that has 850-radio stations across the nation. The co-founder ‘Bob Pittman’ joined the Clear Channel Communication as a chairperson and as an investor last November. Mr. Pittman said in a conversation on Saturday, “It’s very rare that you get such a test drive. This is one of those companies where the closer you looked, the better it seemed.”

Earlier he was working with AOL as a chief executive officer, but in 2002, he resigned under pressure. He also held important positions in Six flags Entertainment Corporation and Century 21 Real Estate.

In 2008, Bain Lead Partners LLC, a private equity group acquired Clear Channels Media holdings. The organization’s sales increased by 5.7 percent as the company recovered from the recession. However, between the year 2007 and 2009 the company lost sales and advertising, the ultimate source of revenue generation.

The new Chairperson of Clear Channel has plans for the immense growth of the company, and to give the innovative image to it with fresh ideas. Therefore, Pittman has decided to focus on selling national radio advertising rather than local advertising.

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