Katz Media Group CEO Stu Olds Passes On
December 4, 2010 at 9:28 AM (PT)
Everyone at ALL ACCESS is saddened to report the passing of KATZ MEDIA GROUP CEO STU OLDS, who had been hospitalized at MT. SINAI HOSPITAL in NEW YORK CITY in recent weeks with MDS, myelodysplastic syndrome (formerly known as "preleukemia"). OLDS had led KATZ MEDIA GROUP since 2000 and was with KATZ for 29 years.
Our deepest condolences to his wife KIM and the rest of the family.
CLEAR CHANNEL President & CEO JOHN HOGAN sent out the following note to all CCR and KMG employees:
"TODAY we have lost a special man and a great friend. KATZ MEDIA's President and CEO STU OLDS died early this morning after a brave fight with MYELODYSPLASTIC SYNDROME, or MDS, a type of leukemia. His wife KIM and their children were with him, and several colleagues had the privilege to have visited STU and experience his indomitable spirit in these last weeks. He will be greatly missed.
"STU, who was 60, was named CEO of the KATZ MEDIA GROUP in 2000. He started in KATZ's CHICAGO office in 1977, and worked his way up to President of KATZ RADIO in 1987 and President of the KATZ RADIO GROUP in 1994. During his long career, STU was a pillar of the radio community, and his list of contributions to our company and to the entire radio industry is long and exceptional. He served on many charitable foundations and industry organizations, and was honorary trustee of AWRT/ALLIANCE FOR WOMEN IN MEDIA FOUNDATION, a board member of the RAB and the BAYLISS FOUNDATION, and served as Vice Chairman of the BROADCASTERS FOUNDATION BOARD. Perhaps his greatest professional accomplishment was that he was respected by all who knew him and loved by those who worked with him.
"Details on a memorial service and the family's intentions regarding cards and contributions will be coming shortly. CLEAR CHANNEL will be marking STU's passing in a special way, and we will tell you more once those plans are finalized.
"At KATZ MEDIA, we will be reaching out to customers and partners - to share this news, to share our recollections of this special person and industry leader, and to let them know that as an organization we remain focused on their needs. In keeping with our ongoing structure, KATZ MEDIA Presidents will for the present report to CHARLIE RAHILLY, CLEAR CHANNEL President of National Advertiser Platforms. Moving forward, we'll share more details as appropriate.
"Please join me in pausing to remember our dear friend and a truly extraordinary man."
Additional details about services as they become available.
For more on STU's recent illness and to leave a note of condolence, head to www.caringbridge.org/visit/stuolds. Or, post a note about STU, below.