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New York, NY – January 17, 2012 – Clear Channel announced today that music, entertainment and media executive John Sykes will join the company in the newly created role of President, Clear Channel Entertainment Enterprises.�� He will report to Clear Channel CEO Bob Pittman.

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In his new position, Sykes will use the unparalleled assets of Clear Channel –�� including its 238 million monthly broadcast radio listeners, the 141 million people it reaches with Outdoor in the United States and the 374 million internationally, as well as the more than 75 million monthly listening hours for its digital properties – to develop new businesses for the company across a range of media, including television and live events, as well as create value for Clear Channel advertisers and key partners.���� Sykes’ new group will work closely with Clear Channel Media and Entertainment CEO John Hogan and his team as well as Clear Channel Outdoor, both in the United States and internationally.

Sykes has played leadership roles at a number of major brands across the music, entertainment and media spectrum, including President of VH1, President of Network Development for MTV Networks, CEO of Infinity Broadcasting (now CBS Radio), President of Champion Entertainment, President of Chrysalis Records and as an agent at the Creative Artists Agency (CAA).�� He was also a core member of the original team that created MTV.��

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"John's experience and relationships in so many sectors of the entertainment and media business make him the perfect choice to lead this new initiative,” said Clear Channel CEO Bob Pittman.�� “He has one of the most diverse entertainment careers – from being on the original team that created MTV to re-launching VH1, managing major music artists, running a significant radio group and even being a Hollywood agent – as well as a track record of working with talent and entertainment properties in innovative new ways.�� In this role, he’s perfectly positioned to create new assets and increased value for our advertisers and strategic partners, using both our unparalleled reach and the creativity of our people at the local, national and international levels.”

"Clear Channel has a unique relationship with our audiences, who have a deep loyalty to our brands and trust us to bring them innovative and creative media and entertainment experiences,” said Sykes. “I’m looking forward to working with the impressive teams across the company to tap Clear Channel’s unique marketing and promotional capabilities across a variety of media and platforms to serve our consumers, the music industry, advertisers and our key strategic partners in additional and meaningful ways,” said Sykes.

After spending a combined 21 years at MTV Networks and Viacom, Sykes has been affiliated with the Pilot Group, a private equity and venture firm, since 2008. During his tenure, Sykes worked on the restructuring of MGM studios as well as digital properties including Playlist.com and Shazam Mobile, where he serves as a board member. He joined Clear Channel in a consultant role in early 2011 and worked on a number of projects, including assisting the National Programming Platforms team that created the record-setting iHeartRadio Music Festival, the company's first-ever national live music event, featuring 21 industry-leading performers, streamed live to millions on the web and televised on VH1.

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Sykes also serves on the boards of the Robin Hood Foundation, the Rock and Roll Hall of Fame, Project RED, VH1 Save the Music and Syracuse University's Newhouse School of Communications.

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Contact:

Clear Channel

Wendy Goldberg, 212-549-0965

WendyGoldberg@clearchannel.com