Ryan Seacrest Inks Contract Extension With Clear Channel
November 30, 2010

Clear Channel Communications and Ryan Seacrest Enterprises have announced a new and expanded multi-year partnership agreement under which Ryan Seacrest will continue in his current role as producer and host of three radio programs in Los Angeles and New York, which are also syndicated for national and international distribution. Additionally, Seacrest will create and deliver new content for distribution through Clear Channelís traditional and digital radio platforms on both a local market and national basis, as well as serve as a spokesperson for Clear Channel. Under the new agreement, Seacrest and Clear Channel will also create joint ventures to develop and promote new musical artists and other multi-platform media projects.

The three-year agreement builds on and vastly expands the relationship first established between Seacrest and Clear Channel in 2004 when Seacrest assumed hosting duties for American Top 40 and began morning hosting duties for Clear Channelís KIIS/Los Angeles morning show. Financial terms of the agreement were not disclosed, though the New York Times reports it is valued around $60 million.

"Everyone at Clear Channel is thrilled to renew and expand our partnership with Ryan, who is not only a top radio and television personality but also a true visionary who has firmly established himself as Americaís leading curator of popular culture," said Robert W. Pittman, Clear Channelís Chairman of Media and Entertainment Platforms. "Ryan is a singular talent and brings incredible assets to his partnership with Clear Channel. His likability and broad appeal are a key reason why his shows have such phenomenal reach and penetration. What we have already achieved together with Ryanís radio programs in Los Angeles, New York and across the nation, and which we will now take further under our new agreement, underscores our uniquely powerful ability to reach a national audience while executing locally in both traditional and digital radio."

"Ryan exemplifies the level of talent and programming we are committed to bringing our listeners across a variety of platforms," said John Hogan, President/CEO of Clear Channel Radio. "His experience and track record as a host and a producer and his extensive industry relationships make Ryan an ideal partner for the development of new vehicles as we drive growth opportunities across all of our radio platforms, on air, online and on-site. We look forward to continuing to work with him to promote his current shows through Premiere Radio Networks and collaborating with him to create and bring trend-setting new content ideas to fruition."

"I believe Clear Channelís programming is only beginning to scratch the surface of what we can achieve together to connect with audiences and create innovative and compelling opportunities for listeners and advertisers. Iím excited to work closely with Clear Channelís radio leadership to develop new concepts and content that brings the untapped potential of radio to life across a range of delivery platforms. Iím particularly looking forward to exploring and capitalizing on the exciting possibilities the digital era holds for radio," said Ryan Seacrest.

The terms of the new agreement call for Seacrest to continue as host of On Air with Ryan Seacrest. In addition, the nationally syndicated mid-day version of On Air with Ryan Seacrest will be expanded to four hours and also extends Ryanís services on the nationally and internationally distributed American Top 40, which is syndicated by Premiere Radio Networks.

The agreement also calls for Seacrest to commit time as a spokesperson and advocate for Clear Channel, and his endorsements of Clear Channel products and services will include appearances at Clear Channel-sponsored events such as Jingle Ball and Wango Tango. Seacrest will also work closely with Clear Channel leadership to develop exclusive new radio content for national and international syndication via both traditional and digital media.

A third element of the agreement creates a joint venture between Seacrest and Clear Channel aimed at developing and producing various entertainment concepts such as a record label and music publishing, a live concert series and content for television.




 
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