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

Ryan Seacrest Media (RSM) and Clear Channel, with Clear Channelís 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. Iím 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 itís 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. Weíre 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 Channelís 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 Channelís 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
RAB Report: Radio Shows Double-Digit Growth In Digital Revenue For Q3
Jaysson Reno Named VP, Sales For KGO-AM, KSFO-AM
In Brief - November 21, 2014
November 20, 2014
Cumulus Promotes Jeff Davis To National Director Of Stratus Music Scheduling
Mike Fredrick Named Hubbard Radio Cincinnati VP/Market Manager
Hubbard Radio Announces New Division, 2060 Digital, LLC
Kassof Research: Christian Radio P1ís: Mission Accomplished
In Brief - November 20, 2014
November 19, 2014
Musicians On Call Raises $700,000 At 15th Anniversary Celebration
iStreamMEDIA Adds Christopher Cottrill As VP/Music Content, Programming
Jordan Blaugrund Promoted To VP, Digital Marketing, RCA Records
DeVito/Verdi Retained To Drive Awareness Of NextRadio App
Kassof Research: Rock P1ís: Too Cool to Care?
In Brief - November 19, 2014
November 18, 2014
100.3 The Beat Launches In St. Louis
MADE Music Announces Partnership With Vevo
Kassof Research: Urban P1ís: Into It!
Southern California Radio Roars Back In October
In Brief - November 18, 2014
November 17, 2014
Vevo Announces Leadership Transition
BMG Acquires Vagrant Records
Republic Records Names Delmar Powell Director of Urban A&R
Gordon Smith, NAB To Be Honored By Broadcasters Foundation Of America
Kassof Research: News/Talk P1's: It's Not About Happy
In Brief - November 17, 2014
November 14, 2014
Music News
Iggy Azalea, J. Lo To Team Up on AMAs
Quick Hits: One Direction, Taylor Swift, Young The Giant, Guns N' Roses, Jimmy Ruffin
Taylor Swift's 1989 Remains At #1
Quick Hits: U2, Katy Perry, Paramore, Lana Del Rey, The Voice
Foo Fighters Announce Major 2015 North American Tour
Ed Sheeran Launches "Thinking Out Loud"
Quick Hits: American Music Awards, New Now Next Awards / Jessie J, Smashing Pumpkins, Prince Royce, Marilyn Manson, The Decemberists, Bonnaroo, James Blunt
U2 Postpones Tonight Show Residency
Quick Hits: AC/DC, J. Cole, Giorgio Moroder, alt-J, Lollapalooza South America
Kid Rock Gearing Up For First Kiss
The Week In Review: 11/10-11/14
Quick Hits: Paramore, AC/DC, Ryan SeacrestĎs New Yearís Rockiní Eve
Quick Hits: One Direction, Juvenile, Randy Jackson, MTV Awards shows
Taylor Swift 1989 Holds On To #1
Quick Hits: Concert For Valor, Omarion, Foo Fighters
FMQB NOW

Jon Zellner
SVPP, iHeartMedia

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!