It's 3 Years, $60 Million More For Ryan Seacrest
November 30, 2010 at 4:41 AM (PT)
It's official -- RYAN SEACREST will receive an extended deal with CLEAR CHANNEL COMMUNICATIONS. Financial terms of the agreement were not disclosed., but have been reported to be worth $60 million over three years. The Top 40 KIIS/LOS ANGELES wakeup man, syndicated "On Air With RYAN SEACREST" meister and AMERICAN TOP 40 host had reportedly wanted to scale back his commitment to the radio giant when his old contract, worth $35 million, expired at the end of the year.
Now, SEACREST will further commit to radio, agreeing to develop new radio content for syndication via both traditional and digital media. SEACREST will also create a joint venture with the company to explore the creation of a record label, music publishing business and live concert series, according to the people with knowledge of its details, who spoke on the condition of anonymity."
The new deal gives SEACREST control over some of the advertising sales for his radio shows, and also gives him the ability to embed his own marketing partners into the programming.
"Everyone at CLEAR CHANNEL is thrilled to renew and expand our partnership with RYAN, who is not only a top radio and television personality but also a true visionary who has firmly established himself as America’s leading curator of popular culture," said CLEAR CHANNEL Chairman/Media and Entertainment Platforms ROBERT W. PITTMAN. "RYAN is a singular talent and brings incredible assets to his partnership with CLEAR CHANNEL. His likability and broad appeal are a key reason why his shows have such phenomenal reach and penetration. What we have already achieved together with Ryan’s radio programs in LOS ANGELES, NEW YORK and across the nation, and which we will now take further under our new agreement, underscores our uniquely powerful ability to reach a national audience while executing locally in both traditional and digital radio."
"Ryan exemplifies the level of talent and programming we are committed to bringing our listeners across a variety of platforms," said CLEAR CHANNEL RADIO Pres./CEO JOHN HOGAN. "His experience and track record as a host and a producer and his extensive industry relationships make RYAN an ideal partner for the development of new vehicles as we drive growth opportunities across all of our radio platforms, on air, online and on-site. We look forward to continuing to work with him to promote his current shows through PREMIERE RADIO NETWORKS and collaborating with him to create and bring trend-setting new content ideas to fruition."
"I believe CLEAR CHANNEL’s programming is only beginning to scratch the surface of what we can achieve together to connect with audiences and create innovative and compelling opportunities for listeners and advertisers. I’m excited to work closely with CLEAR CHANNEL’s radio leadership to develop new concepts and content that brings the untapped potential of radio to life across a range of delivery platforms. I’m particularly looking forward to exploring and capitalizing on the exciting possibilities the digital era holds for radio," said SEACREST.
The deal is the second large check CLEAR CHANNEL will write, as the company recently (NET NEWS 11/19) reupped Pres./CEO JOHN HOGAN for $1 million per year through JANUARY 2014.