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Former MTV executive and disc jockey named CEO of debt-laden Clear Channel
LOS ANGELES (AP) ' On the heels of organizing a two-day concert in Las Vegas that kicked off Clear Channel's iHeartRadio online radio service, media veteran Bob Pittman was named chief executive of its parent company, CC Media Holdings Inc.
Pittman, 57, is an expert at boosting brands. He is the former CEO of MTV Networks and was COO of America Online Inc. before its ill-fated merger with Time Warner Inc.
He joined the company last November with a $5 million investment and the job of chairman of media and entertainment platforms.
He is betting the company can turn itself around, although ad agencies expect radio advertising to grow less quickly over the next few years than Internet ad spending.