Hogan: Clear Channel Radio Not Selling Stations
December 1, 2005 at 6:33 AM (PT)
CLEAR CHANNEL RADIO CEO JOHN HOGAN told the REUTERS Advertising and Media Summit on WEDNESDAY that the company is not looking to shed any radio assets. "Would we sell stations? That is not our intent," HOGAN asserted. "We invested a lot of time, energy and money to go out and deaggregate what we think is the premier radio platform in the country. We do not have plans to divest." CLEAR CHANNEL recently spun off 10% of CLEAR CHANNEL OUTDOOR in an IPO and plans to spin off CLEAR CHANNEL ENTERTAINMENT.
We do not have plans to divest
HOGAN also said that his company is planning to send local radio station services like traffic and weather reports to cell phones by next year, saying that CLEAR CHANNEL is "in discussions with all of the major wireless suppliers." He also confirmed that the company has been talking to APPLE, YAHOO!, and MICROSOFT about distribution deals for radio programming, and said a deal could be reached in 2006.
Regarding "Less is More," HOGAN called the results so far "extraordinarily promising" and noted that the company has "seen improvements month to month and quarter to quarter."