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Clear Channel and Entertainment One (eOne) Announce Agreement to Share Digital and Broadcast Radio Revenue with Artists

  Clear Channel and Entertainment One (eOne) Announce Agreement to Share
  Digital and Broadcast Radio Revenue with Artists

   Agreement Between Fastest-Growing Independent Music Group and America’s
Leading Media Company Further Builds a New, Sustainable Business Model for the
                            Digital Radio Industry

  eOne, the Largest Independent Music Distributor in North America, to join
          Clear Channel’s Group of Pioneering Record Label Partners

Business Wire

NEW YORK -- March 6, 2013

Clear Channel Media and Entertainment, the leading media company in America
with a greater reach than any other radio or television outlet, and
Entertainment One (eOne), the fastest-growing independent music company in the
U.S., today announced an agreement to share revenue from digital and
terrestrial radio.

eOne Music produces, distributes, licenses and promotes some of the world’s
top music across a range of genres including rock, rap, classical and country.
The label’s diverse music library boasts more than 45,000 tracks from artists
including DJ Drama, Faith Evans, Pop Evil, Jake Miller, Black Label Society,
Joe Budden, and many others. Since its inception, eOne Music has charted more
than 100 albums on Billboard’s Independent Chart, more than any other American
independent label.

“eOne and Clear Channel both passionately believe that ensuring a thriving and
diverse music industry requires creative thinking, and the willingness to
knock down barriers,” said Michael Koch, CEO of eOne Music. “This agreement is
great for us and for Clear Channel, but ultimately the fans and artists
benefit most.”

“Innovative partnerships like this support a robust and sustainable model for
our industry, where artists, fans, labels, distributors, radio and fans all
prosper,” said Bob Pittman, CEO of Clear Channel. “In eOne, we have found a
partner with an extraordinary range of successful music who understands this
and the immense value terrestrial and digital radio provide to artists,
labels, and the industry at large.”

Like Clear Channel’s recent agreements with six other record labels, the
arrangement will help build out a sustainable digital radio industry. Clear
Channel’s agreement with eOne follows several recent, similar agreements,
including Big Machine Label Group, Glassnote Entertainment Group, DashGo, rpm
Entertainment, Robbins Entertainment, and Naxos.

About Entertainment One

Entertainment One Ltd. (LSE:ETO) is an international entertainment company
that specializes in the acquisition, production and distribution of film and
television content. The company’s comprehensive network extends around the
globe including Canada, the U.S., the UK, Ireland, Spain, Benelux, France,
Germany, Scandinavia, Australia, New Zealand, South Africa and South Korea.
Through established Entertainment and Distribution divisions, the company
provides extensive expertise in film distribution, television and music
production, family programming and merchandising and licensing. Its current
rights library is exploited across all media formats and includes more than
35,000 film and television titles, 2,700 hours of television programming and
45,000 music tracks.

About Clear Channel Media and Entertainment

With 243 million monthly listeners in the U.S., Clear Channel Media and
Entertainment has the largest reach of any radio or television outlet in
America. Clear Channel Media and Entertainment serves 150 cities through 850
owned radio stations.

The company’s operations include radio broadcasting, online and mobile
services and products, live concerts and events, syndication, music research
services, and independent media representation. The company’s radio stations
and content can be heard on AM/FM stations, HD digital radio channels,
SiriusXM Satellite Radio, on the Internet at iHeartRadio.com and on the
company’s radio station websites, on the iHeartRadio mobile application on
iPads and smartphones, and used via navigation systems from TomTom, Garmin and
others. Clear Channel Media and Entertainment is a division of CC Media
Holdings, Inc. (OTCBB: CCMO), a leading global media and entertainment
company. More information on the company can be found at clearchannel.com,
clearchanneloutdoor.com and ccmediaholdings.com.

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Contact:

eOne Music
Giovanna Melchiorre, 516-484-1000 x279
gmelchiorre@entonegroup.com
or
Clear Channel
Wendy Goldberg, 212-549-0965
wendygoldberg@clearchannel.com