Clear Channel is now iHeartMedia
From WSJ - The name-change is “a reflection of fact that company has changed radically over last several years,” said Clear Channel Chief Executive Robert Pittman, who came out of retirement to take the helm in 2011. In addition to adding the digital radio service and creating a host of live, televised events during his tenure, the company has amassed a “huge social presence” using the iHeartRadio moniker on social media channels, he added.
But Mr. Pittman said he realized about a month ago that the company needed a name that made more sense.
“When I say I work at Clear Channel people say, ‘Huh? What’s that?’ ” said Mr. Pittman. The term “clear channel” refers to a category of AM radio stations with high protection from interference from other stations, and such a reference now seems “way out of place,” he said.
Read more in the WSJ Business section 'Clear Channel Gets a New Name.'
Here's the full press release from Clear Channel/iHeartMedia here.