Clear Channel Owners Invest $300 Million In Ryan Seacrest Media
January 31, 2012

Ryan Seacrest Media (RSM) and Clear Channel, with Clear Channel’s majority investors Thomas H. Lee Partners (THL) and Bain Capital have announced two new investment agreements with Seacrest's company, designed to drive business growth across multiple media platforms. 

Funds sponsored by THL and Bain Capital have together committed up to $300 million to working with RSM to identify, acquire and develop innovative media companies, media content and other media properties that can be leveraged to support a range of media enterprises.

Under a separate agreement, Clear Channel will acquire a minority stake in Ryan Seacrest Productions (RSP), a privately held entertainment production company. RSP produces the hit reality series Keeping Up with the Kardashians, and the spin-offs Kourtney and Kim Take New York, Khloe and Lamar, and Kourtney and Khloe Take Miami. RSP also produced the Emmy Award-winning ABC reality series Jamie Oliver's Food Revolution. RSP is currently producing two new reality series including Melissa and Tye: A New Reality, for CMT and Shahs of Sunset, for Bravo. 

RSP will remain creatively autonomous and continue as an independently operated entity, majority-owned by Ryan Seacrest, and managed by Seacrest as Executive Chairman, CEO Adam Sher and CFO Jeff Refold. RSP will continue to develop and produce content for network and studio partners, including NBC Universal. RSP will now also collaborate with Clear Channel on the production and distribution of both scripted and unscripted television programming as well as other media and entertainment content, leveraging the promotional reach of Clear Channel.

Clear Channel CEO Bob Pittman, THL Managing Director Richard Bressler, and Bain Managing Director Ian Loring will work with Seacrest and the RSP management team to maximize the strategic and operational value of the RSP relationship with Clear Channel. Bressler and Loring will work with Seacrest separately to maximize the RSM investment initiative. 

"We aim to build Ryan Seacrest Media into a leading multi-media company with diversified assets and interests," said Seacrest. "The entertainment industry is thriving with innovation more than ever before. I’m excited to collaborate with Clear Channel, THL and Bain Capital to seize on investment opportunities that capitalize on unique content, new technologies and distribution platforms. Bob, Rich and Ian bring a wealth of experience, ideas, and resources and it’s truly a privilege to get to work so closely with them as we embark on this new endeavor. I believe we all share a vision and a commitment to success." 

"Ryan is an unmatched creative talent with success across more media platforms and involvement with a greater variety of programming and venues than anyone else in the industry," said Pittman. "His combination of business acumen and keen understanding of consumers and popular entertainment is an incredible asset. We’re eager to collaborate with him in developing new and significant opportunities in the television arena in a way that can maximize our relationships with music and other talent, bring greater benefits to our advertisers, and further build Clear Channel’s singular ability to deliver local, mobile and social execution across a truly national audience base." 

"Ryan Seacrest is not only an enormous talent as an individual, but a leading business visionary who has his finger on the pulse of the evolving dynamics in the media industry. He and his business initiatives are quite literally driving the future of how media can create value in ways never dreamed of in prior decades, and we are pleased to be his partner, both through Clear Channel as well as through our separate, new and exciting media property investment initiative," said Bressler. "Putting the scope, scale, reach and resources of Clear Channel and the THL and Bain teams behind Ryan and his team underscores what he can achieve in this industry."

Of course, Seacrest is the host and executive producer of On Air With Ryan Seacrest, which is syndicated on over 150 stations in North America with affiliates worldwide. Seacrest is also host of American Top 40, a weekly countdown show syndicated by Clear Channel's Premiere Networks. Additionally, Seacrest creates and delivers content for distribution through Clear Channel’s broadcast and digital radio platforms on both a local market and national basis, and serves as a spokesperson for Clear Channel. During the past year, Seacrest was involved in the development and execution of key projects for Clear Channel such as the iHeartRadio Music Festival in Las Vegas.




 
Breaking News
Louie Diaz Named PD At KLIF/Dallas
In Brief - August 29, 2014
The Week In Review: 8/24-8/29
August 28, 2014
NuVoodoo Releases Social Media Findings Of Ratings Prospect Study
T-Mobile's Music Freedom Expands With Six New Music Streaming Services
In Brief - August 28, 2014
August 27, 2014
STRATA Survey: Ad Agencies’ Interest In Digital Video Jumps 45% From A Year Ago
In Brief - August 27, 2014
August 26, 2014
Scott Carter Promoted To SVP/Marketing At Epic Records
CCM+E Nashville Debuts ALT 98.3
CBS Radio, Townsquare Media Partner To Create The Michigan News Newtwork
Stacey Thomas Appointed Director, Media Integration For CCM+E Philadelphia
In Brief - August 26, 2014
August 25, 2014
Lance Houston Named New PD Of Boston's 101.7 The Bull
In Brief - August 25, 2014
August 22, 2014
eQB NOW
The Week In Review: 8/18-8/22
Chris Edge Adds PD Duties At WDCG/Raleigh
SoundExchange Q2 Digital Radio Report Highlights Digital Radio Transformation
In Brief - August 22, 2014
August 21, 2014
NuVoodoo Ratings Prospect Study Reveals Broadcast Radio Beats Pandora For Music Satisfaction
CBS Radio Adds To Sports Programming Leadership Team
iHeartRadio Survey: Carrie Underwood Music’s Best Female Role Model
In Brief - August 21, 2014
Music News
Bicoastal Made In America Festival A Success
MTV VMAs Spike Sales For Beyoncé and More
Quick Hits: Bruce Springsteen, John Legend, Shakira
The Week In Review: 8/24-8/29
Quick Hits: Chris Brown, Weezer, Miley Cyrus, Brandon Flowers, Paul McCartney, Bob Dylan
Wiz Khalifa Earns First #1 Album, Taylor Swift Debuts At #1 With New Single
Quick Hits: Ariana Grande, Kings of Leon, Lady Gaga, Neil Young
Usher Slowly Revealing Tour Plans
Quick Hits: Bad Boy Records, Ty Dolla $ign, Gerard Way, Bob Dylan
Beyoncé, Miley Cyrus Rule 2014 MTV VMAs
Slipknot Unmasks Details of The Gray Chapter
Quick Hits: Eminem & Shady Records, Ed Sheeran, Prince, Grouplove, Cobra Starship
Quick Hits: Jessie J, Foo Fighters, Mariah Carey & Nick Cannon, Genesis, Fall Out Boy
The Week In Review: 8/18-8/22
Nickelback Signs With Republic Records
FMQB NOW

Jeff Sottolano
Director of Programming
CBS Radio

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!