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
Entercom Charlotte Names Michael De Amicis Director of Sales
Entercom Charlotte Signs Contract Extension with Bo Thompson
April 27, 2017
iHeartMedia And Elvis Duran Announce New Long-Term Agreement
SiriusXM Acquires Automatic Labs Inc.
Insomniac & iHeartMedia Launch EDC Radio Exclusivley On iHeartRadio
April 26, 2017
Cox Enterprises Names Alexander C. Taylor President/CEO
Delilah Inducted Into NAB Broadcasting Hall of Fame
April 25, 2017
CBS Radio Unveils New "Airtime Analytics" Measurement Tool
Entercom Rochester Names Michael ďMudĒ Gross PD At WCMF-FM
IFPI Report: Global Recorded Music Revenues Increase by 5.9%
Tom Calococci Joins Sheet Happens Prep For Affiliate Relations/Content Creation
CBS Radio Stations Take Home 25 Regional Edward R. Murrow Awards And 4 Overall Excellence Awards
April 24, 2017
Coran Capshaw To Be Honored With City of Hope's 2017 Spirit of Life Award
Cumulus Appoints Nic Merenda VP/Market Manager For Topeka, KS
Alpha Media Brings Throwbacks To San Antonio
iHeartMedia St. Louis Names Jules Riley PD For 93.7 The Bull
J. Anthony Brown Joins The Steve Harvey Morning Show
April 21, 2017
eQB NOW
Cumulus Promotes Heather Gersten To APD At WWLI/Providence, RI
April 20, 2017
iHeartMedia Washington, D.C. Names Tommy Chuck PD For WASH-FM
iHeartMedia Names Jeff Wyatt SVP/Programming For Baltimore, MD
Radio One DC Expands WMMJ-FM Listenership
April 19, 2017
CBS Radio's 'SPF" In Las Vegas Expands To Two Nights With Linkin Park
Music News
Deluxe Reissue of Purple Rain Set for June 23 Release
Harry Styles Sets Massive 2017 World Tour
Jack White Inks Publishing Deal With UMPG
Quick Hits: Katy Perry, Fall Out Boy, Haim
Kendrick Lamar Earns Biggest Chart Debut of 2017, Announces Tour
Quick Hits: Haim, Katy Perry, Madonna
Quick Hits: Harry Styles, Beyonce, Bumbershoot Festival, Life is Beautiful Festival, Phoenix, Paul McCartney, Elton John, Madonna
Quick Hits: Tori Amos, Kings Of Leon
Quick Hits: Beyonce, Rise Against
Prince EP Release Blocked By Lawsuit
Paramore Announce New Album After Laughter
Controversy Over New Prince EP
Quick Hits: NIN, QOTSA, Coldplay, Big Boi
FMQB Retro-Active: A Look Back at ELP
The Chainsmokers Debut Atop Billboard 200
FMQB NOW

Nikki Nite,
VP of Prog. & Ops,
Entercom/Austin

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!