Richard J. Bressler Named Pres./CFO Of CC Media Holdings And Clear Channel Communications
Board Member Also Appointed CFO Of Clear Channel Outdoor Holdings
July 30, 2013 at 3:59 AM (PT)
CC MEDIA HOLDINGS has tapped media and finance executive RICHARD J. BRESSLER as Pres./CFO of CC MEDIA HOLDINGS, INC. and CLEAR CHANNEL COMMUNICATIONS, INC., and CFO of CLEAR CHANNEL OUTDOOR HOLDINGS, INC., reporting to Chairman/CEO ROBERT PITTMAN.
BRESSLER has served as CFO of TIME WARNER and VIACOM and Managing Dir. at THOMAS H. LEE PARTNERS. 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.
"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 global reach," 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 level of 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."