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
eQB NOW
CBS Corporation Reports 2015 Fourth Quarter And Full Year Results
Jason Kidd Joins Mix 107.3/Washington, D.C. As Afternoon Drive Personality
February 11, 2016
Charlie Walk Named President of Newly Formed Republic Group
Warner Bros. Ups Luke, Ravikoff in Rock Promo Positions
Entercom Reports Fourth Quarter and Full Year Results
Nielsen Reports 4th Quarter And Full Year 2015 Results
WBLI/Long Island Announces Drive Time Live With Syke & M.J.
February 10, 2016
iHeartMedia Promotes Senior Programmers To Executive Vice Presidents
CBS Radio Celebrates Grammy Awards With Over-The-Air & Digital Programming
February 9, 2016
RAB: Radio Increasing Focus On Digital Sales
107.1 The Brew Is Sacramento's New Home For Rock
In Brief - February 9, 2016
February 8, 2016
"Saturday Night Online" Rebrands As "Most Requested Live With Romeo"
iHeartMedia Names Travis Moon Director of Country Operations for the Austin-San Antonio Region
Entercom Kansas City Announces Appoints Alan Furst PD Of KMBZ
February 5, 2016
Stu Bergen Named CEO, International & Global Commercial Services For Warner Music Group
JoJo Turnbeaugh Named SVP of Programming for iHeartMedia Las Vegas
In Brief - February 5, 2016
February 4, 2016
John Strazza Joins RECORDS
Greater Media Promotes Buzz Knight to SVP of Program Development
MIWs Announce Results from 2015 Gender Analysis
February 3, 2016
Leslie Moonves Named Chairman Of CBS Corporation
Music News
Kanye Debuts New Album at MSG, But No Official Release Yet
Kanye West Unveils The Life of Pablo
Quick Hits: The Grammys, No Doubt / AFI, Bruce Springsteen, NBA All-Star performers, The Beatles, Eaux Claires festival
Gwen Stefani Announces New Album, Filming Live Video During Grammys
Quick Hits: The Grammys / Eagles, Adele, Kelly Clarkson, The Grid NYC
Taylor Swift Leads Nominees for iHeartRadio Music Awards
Quick Hits: Kanye West, Disturbed & Breaking Benjamin, Lionel Richie tribute, Seether, Lamb of God, Way Home festival, Good Charlotte
Beyoncé Announces "Formation" Stadium Tour, Releases New Single
Metallica At CBS RADIO’s “THE NIGHT BEFORE” Concert in San Francisco
Rihanna Reaches #1 With Anti
Quick Hits: Grammy Awards, Zayn, Adele, Dead & Company, The Monkees, The Neighbourhood
Earth, Wind & Fire's Maurice White Dead At 74
The Entertainment World Remember Maurice White
Quick Hits: Rihanna, Lady Gaga, Future, The Lumineers, Stone Temple Pilots
Justin Bieber, Pitbull and More Added to Grammy Lineup
FMQB NOW

Dom Theodore

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!