COVINGTON, Ky., Aug. 27, 2001 (PRIMEZONE) -- Clear Channel Radio President and Chief Operating Officer John Hogan today announced a sweeping realignment of the radio division that offers advertisers unprecedented convenience for regional ad purchases, increases operating efficiency and continues local community involvement at the station level.
Effective immediately, Clear Channel Radio has established eight geographic divisions within the United States, each under the leadership of a senior vice president ("SVP"). The new operating divisions allow the company to maximize its sales and operations along regional lines. The eight divisions are subdivided into approximately 20 regions or "trading areas," creating a new management tier of regional vice presidents ("RVPs"). Each RVP manages a larger market while overseeing a group of smaller, adjacent markets. The regional vice presidents report to their division's SVP.
All markets continue to have a local general manager who remains committed to community involvement and local events. The realignment gives general managers the added resources of their region and division, allowing them to share programming, promotional events, administrative tasks and other operational improvements.
In describing the realignment Hogan commented, "We believe this structure is the most effective way to maximize the synergy of our unique 50-state reach for our customers, our listeners and our operations. No one in the industry has...nor can anyone duplicate...the national footprint Clear Channel Radio has assembled. This geographic alignment links every Clear Channel market so we can more efficiently operate and sell our radio stations, while reinforcing our commitment to local radio."
Realignment Supports Vision of Super-Serving Advertising Customers
The new organizational structure was crafted to support the radio company's vision of super-serving its advertising customers. That vision packages radio stations, market clusters and geographic regions along the same lines as advertisers' trade areas. By assembling responsibilities along geographic lines, Clear Channel Radio enhances its ability to deliver customized, regional packages uniquely designed to reach an advertiser's targeted market. To help execute these regional sales opportunities, Clear Channel Radio recently announced it is adding 500 new account executives company wide by October 1.
Senior Management Changes
The eight Senior Vice Presidents include five veteran Clear Channel SVPs and three newly promoted executives. The regions and SVPs include:
-- Northeast - Rob Williams, SVP, promoted from Market Manager of
Clear Channel Radio's Philadelphia cluster
-- Mid Atlantic - Jim Shea, currently SVP
-- Southeast - Peter Ferrara, currently SVP
-- Midwest - Dave Crowl, currently SVP
-- Plains/Northwest - Jay Meyers, currently SVP
-- Southwest - JD Freeman, SVP, promoted from Market Manager of the
Phoenix cluster
-- Southwest/Central - John Cullen, SVP, currently President, Clear
Channel International
-- West Coast - Jim Donahoe, currently SVP
Clear Channel Radio will name the Regional Vice Presidents over the next few weeks.
For further information, contact Pam Taylor, Clear Channel Radio (859) 655-6523 or Rebecca Allmon, Clear Channel Worldwide (210) 822-2828.
About Clear Channel Communications, Inc.
Clear Channel Communications, Inc., (NYSE:CCU) headquartered in San Antonio, Texas, is a global leader in the out-of home advertising industry with radio and television stations, outdoor displays, and entertainment venues in 63 countries around the world. Including announced transactions, Clear Channel operates approximately 1,213 radio and 19 television stations in the United States and has equity interests in over 240 radio stations internationally. Clear Channel also operates approximately 770,000 outdoor advertising displays, including billboards, street furniture and transit panels across the world. Clear Channel Entertainment is one of the world's largest diversified promoters, producers and presenters of live entertainment events and is a leading fully integrated sports marketing and management company.
Certain statements in this release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Visit our website at www.clearchannel.com