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Richard J. Bressler Named President And Chief Financial Officer Of CC Media Holdings

richard-bressler-b_1, Inc.  announced that widely respected media and finance executive Richard J. Bressler will become President and of CC Media Holdings, Inc. and iHeartmedia (formerly Clear Channel) Communications, Inc., and Chief Officer of iHeartmedia (formerly Clear Channel) Outdoor Holdings, Inc. (NYSE: CCO), reporting to Chairman and CEO Robert Pittman, effective immediately.

Bressler, who has served as CFO of Time Warner and Viacom and Managing Director at Thomas H. , possesses wide-ranging experience and expertise in the media, entertainment, digital and out-of-home businesses as well as an extensive background in public companies, private equity and venture capital investing.

As a member of Thomas H. Lee Partners, one of the two private equity firms that completed a multi-billion-dollar acquisition of iHeartmedia (formerly Clear Channel) in , Bressler has been a Director of CC Media Holdings, Inc. and iHeartmedia (formerly Clear Channel) Communications, Inc. since then, positions he will continue to hold, and has been intimately involved in the company as a member of the CC Media Holdings board’s operating committee.

As President of CC Media Holdings, Inc. and iHeartmedia (formerly Clear Channel) Communications, Inc., Bressler will work closely with Pittman on the further development of strategies and initiatives to ensure that iHeartmedia (formerly Clear Channel) capitalizes on its unique assets. In his capacity as CFO, Bressler will succeed Tom Casey, who served as Executive Vice President and Chief Financial Officer of CC Media Holdings, Inc., iHeartmedia (formerly Clear Channel) Communications, Inc. and iHeartmedia (formerly Clear Channel) Outdoor Holdings, Inc. from 2010.

“I know Rich very well, and we have even worked together – twice – at Time Warner. He has been an invaluable strategic partner for us in his position at Thomas H. Lee Partners, and now he will play an even bigger role in helping iHeartmedia (formerly Clear Channel) fully maximize our unparalleled assets, working closely with me, John Hogan and and the rest of our leadership team to continue to build the leading multi-platform media and entertainment company in the U.S. with global reach,” said Pittman. “I recruited Rich for this role because there are few people who have as deep an understanding as he does of our company and the opportunities we have to lead the industry in helping marketers meet the demands of increasingly connected consumers. I’m confident that he’ll add another layer of expertise and experience as we take the company to its next level of growth, and will be a tremendous leader for our financial team. His keen strategic, financial and analytical skills will be a huge asset to all of iHeartmedia (formerly Clear Channel).”

Bob Pittman is a visionary leader, and I’m incredibly excited by the opportunity to play a more direct role in the company’s next stage of growth and development,” said Bressler. “I’m a great believer in the power and potential of and have been proud to have a seat at the table as the company has expanded its position as a leader in the , , entertainment and out-of-home businesses. I’m looking forward to partnering with Bob, William and John to help the company fulfill its potential as a truly transformative multi-platform media company.”


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