The unit, Clear Channel Advantage, was created by merging Clear Channel's local and regional radio sales teams with its local and regional live-music sales teams. A search is on for a senior executive, either from inside or out of the company -- to lead the new entity.
Clear Channel Entertainment annually produces and markets approximately 26,000 live events for 66 million people in its network of live venues, including 41 amphitheaters in the U.S. The entertainment division will maintain its national sales and marketing unit to serve marketers who want to advertise through Clear Channel Entertainment's national concert, theatrical and family tours and motor sports events.
The media company has already developed cross-platform opportunites for marketers including Toys R Us and Volkswagen, which leveraged Clear Channel's radio and entertainment businesses to develop a college tour to tap into the that market.
Clear Channel also operates approximately 1,225 radio and 37 TV stations in the U.S. and has equity interests in over 240 radio stations internationally. The company operates roughly 776,000 outdoor advertising displays worldwide.