Richard J. Bressler Named President and Chief Financial Officer of CC Media Holdings, Inc. and Clear Channel Communications,

  Richard J. Bressler Named President and Chief Financial Officer of CC Media
  Holdings, Inc. and Clear Channel Communications, Inc., and Chief Financial
  Officer of Clear Channel Outdoor Holdings, Inc.

 Former Time Warner and Viacom CFO Will Help Drive Clear Channel’s Next Stage
 of Growth as Nation’s Leading Multi-Platform Media and Entertainment Company

Business Wire

NEW YORK -- July 30, 2013

CC Media Holdings, Inc. (OTCBB: CCMO) today announced that widely respected
media and finance executive Richard J. Bressler will become President and
Chief Financial Officer of CC Media Holdings, Inc. and Clear Channel
Communications, Inc., and Chief Financial Officer of Clear Channel Outdoor
Holdings, Inc. (NYSE: CCO), reporting to Chairman and CEO Robert Pittman,
effective immediately.

RICHARD J. BRESSLER NAMED PRESIDENT AND CHIEF FINANCIAL OFFICER OF CC MEDIA
HOLDINGS, INC. AND CLEAR ...

RICHARD J. BRESSLER NAMED PRESIDENT AND CHIEF FINANCIAL OFFICER OF CC MEDIA
HOLDINGS, INC. AND CLEAR CHANNEL COMMUNICATIONS, INC., AND CHIEF FINANCIAL
OFFICER OF CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (Photo: Business Wire)

Bressler, who has served as CFO of Time Warner and Viacom and Managing
Director at Thomas H. Lee Partners, possesses wide-ranging experience and
expertise in the media, entertainment, digital and out-of-home businesses as
well as an extensive background in public companies, private equity and
venture capital investing.

As a member of Thomas H. Lee Partners, one of the two private equity firms
that completed a multi-billion-dollar acquisition of Clear Channel in 2008,
Bressler has been a Director of CC Media Holdings, Inc. and Clear Channel
Communications, Inc. since then, positions he will continue to hold, and has
been intimately involved in the company as a member of the CC Media Holdings
board's operating committee.

As President of CC Media Holdings, Inc. and Clear Channel Communications,
Inc., Bressler will work closely with Pittman on the further development of
strategies and initiatives to ensure that Clear Channel capitalizes on its
unique assets. In his capacity as CFO, Bressler will succeed Tom Casey, who
served as Executive Vice President and Chief Financial Officer of CC Media
Holdings, Inc., Clear Channel Communications, Inc. and Clear Channel Outdoor
Holdings, Inc. from 2010.

“I know Rich very well, and we have even worked together – twice – at Time
Warner. He has been an invaluable strategic partner for us in his position at
Thomas H. Lee Partners, and now he will play an even bigger role in helping
Clear Channel fully maximize our unparalleled assets, working closely with me,
John Hogan and William Eccleshare and the rest of our leadership team to
continue to build the leading multi-platform media and entertainment company
in the U.S. with globalreach,” said Pittman. “I recruited Rich for this role
because there are few people who have as deep an understanding as he does of
our company and the opportunities we have to lead the industry in helping
marketers meet the demands of increasingly connected consumers. I’m confident
that he’ll add another layer of expertise and experience as we take the
company to its next levelof growth, and will be a tremendous leader for our
financial team. His keen strategic, financial and analytical skills will be a
huge asset to all of Clear Channel.”

“Bob Pittman is a visionary leader, and I’m incredibly excited by the
opportunity to play a more direct role in the company’s next stage of growth
and development,” said Bressler. “I’m a great believer in the power and
potential of Clear Channel and have been proud to have a seat at the table as
the company has expanded its position as a leader in the broadcast radio,
digital media, entertainment and out-of-home businesses. I’m looking forward
to partnering with Bob, William and John to help the company fulfill its
potential as a truly transformative multi-platform media company.”

“There is no better, more experienced executive Bob Pittman could have
recruited for this important role than Rich Bressler,” said Scott Sperling,
co-President of Thomas H. Lee Partners. “Bob and his team have achieved strong
revenue growth driven by accelerating increases in market share, expanding the
universe of Clear Channel advertisers, and building a leadership position in
the transition to digital platforms. With this traction on top of the broad
process reengineering work already completed, we have great confidence in the
Company and are highly supportive of Rich's transition from helping lead our
investment in Clear Channel to being a dedicated executive there on a full
time basis.”

“We are very excited about the transformation of Clear Channel in the last
several years into a true multi-media platform," said John Connaughton, a
Managing Director at Bain Capital. "Rich will advance this mission with his
exceptional track recordas an executive at several premier media companies.
Having worked with Rich over the last seven years, I know he will use his
experience, in-depth knowledge of the company, and enduring relationships with
Bob and the leadership to continue to grow the business and bring unique
skills to an already-strong senior management team."

Pittman continued, “I’d like to extend my most sincere thanks to Tom Casey for
his significant contributions to Clear Channel over the last several years
that set the stage for the company’s continued evolution. Especially notable
has been all his work during the completion of the recent debt refinancings,
which strengthened our financial position and prepared our company for its
next stage of growth. With these transactions complete, it’s a natural time
for this transition, which will enable Clear Channel to maximize its potential
and take advantage of the company’s promise and value. We wish Tom all the
best for the future.”

Prior to joining Thomas H. Lee Partners, Bressler was the Senior Executive
Vice President and Chief Financial Officer of Viacom, Inc. from 2001 through
2005. He also served as Chairman and Chief Executive Officer of Time Warner
Digital Media, and was Executive Vice President and Chief Financial Officer of
Time Warner, Inc. from 1995 to 1999.

The Chairman and CEO of Clear Channel Media and Entertainment, John Hogan, and
the CEO of Clear Channel Outdoor Holdings, Inc., William Eccleshare, will
continue to report to Mr. Pittman.

About CC Media Holdings, Inc/Clear Channel Communications, Inc.

CC Media Holdings, Inc. (OTCBB: CCMO), the parent company of Clear Channel
Communications, is one of the leading global multi-platform media and
entertainment companies specializing in radio, digital, out of home, mobile,
live events, and on-demand entertainment and information services for local
communities and providing premier opportunities for advertisers. ItsClear
Channel Media and Entertainmentdivision has the largest reach of any radio or
television outlet in America, serving 150 cities through 840 owned radio
stations inaddition to its iHeartRadio digital platform. Itspublicly traded
Clear Channel Outdoor Holdings, Inc. division(NYSE: CCO) is one of the
world’s largest out of home advertising companies, with more than 750,000
displays in over 40 countries across five continents, including 48 of the 50
largest markets in the United States.

More information is available at www.clearchannel.com.

Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20130730005542/en/

Multimedia
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Contact:

For further information, please contact:
CC Media Holdings, Inc.
Media
Wendy Goldberg, 212-549-0965
or
Investors
Gregory Lundberg, 212-549-1717
 
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