Clear Channel Promotes Pittman to Top Post

Clear Channel Media Holdings has named Bob Pittman to the position of chief executive officer, Reuters reported. Pittman has served as chairman of the company’s media and entertainment platforms since November 2010. He is also a member of the New York-based investment firm Pilot Group, Reuters wrote. Clear Channel was bought three years ago by Bain Capital and THL Partners, and has struggled with mounting debt. Pittman reportedly invested $5 million of his own money into Clear Channel in 2010.

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