CC-Yahoo deal

CC HEARTS YAHOO, AND VICE VERSA: Yahoo and Clear Channel have entered in what’s described in this morning’s joint announcement as “a multifaceted relationship [that] involves the distribution and cross-promotion of premium content in addition to a live concert series.” Through this multi-year deal, iHeartRadio will become Yahoo's premier digital radio service. Yahoo and CC content will be cross-promoted on iHeartRadio.com, local station websites and the entire Yahoo Media Network, including its entertainment sites Music, Movies and omg! Yahoo will also become the exclusive live-webcast carrier of the 2012 iHeartRadio Music Festival as well as a concert series of other CC high-profile music events. The deal will allow the two companies to reach a humongous combined audience of more than 400 million. Said CC topper Bob Pittman: "We were thrilled when Ross approached us about this partnership. We like the direction Yahoo is going, and by working together we can accelerate growth for the both of us. Added Yahoo interim CEO Ross Levinsohn: “Clear Channel has accelerated their digital strategy overnight under Bob's leadership. Yahoo is excited to be the exclusive digital streaming partner for the biggest music events of the year, including the iHeartRadio Music Festival and additional concerts. This partnership will expand our ability to provide premium content available and provide Clear Channel with unmatched digital reach.” (6/28a)