iHeartMedia Announces Post-Emergence Board of Directors

New Board’s Range of Highly Relevant Knowledge and Experience Will Be Critical In Ensuring Company’s Future Success

New York, NY and San Antonio, TX – November 6, 2018 – iHeartMedia, the leading audio company in America which has a greater reach in the U.S. than any other media outlet, announced today the members selected to serve on its Board of Directors upon its emergence from Chapter 11.

Subject to confirmation of the Company’s Plan of Reorganization, the post-emergence Board will consist of the following Directors, all of whom possess highly relevant knowledge and experience critical to positioning the company for future success:

  • Bob Pittman, Chairman of the Board of Directors:  Mr. Pittman is the current CEO and Board Chairman of iHeartMedia. Mr. Pittman was formerly COO of AOL Time Warner, Inc. after serving as President and COO of America Online, Inc. Mr. Pittman also served as the CEO of MTV Networks and was the cofounder and programmer who led the team that created MTV.

 

  • Jay Rasulo: Mr. Rasulo was formerly an executive at Walt Disney Company from 1986 through 2015, having spent his last five years at Disney as the CFO and Senior Executive Vice President. During his tenure at Walt Disney, among other roles, he served as the Chairman of Walt Disney Parks & Resorts. Mr. Rasulo is a graduate of Columbia University and received his MA & MBA from the University of Chicago.

 

  •  Gary Barber:  Mr. Barber served as the Chairman and CEO of Metro-Goldwyn-Mayer Inc. (MGM) from 2010 through March 2018. Prior to his role at MGM, he was the co-founder of Spyglass Entertainment, which he founded in 1998. Mr. Barber received his undergraduate and post graduate degrees from the University of Witwatersrand in South Africa.

 

  • Stefan Blom:  Mr. Blom worked at Spotify Technology S.A. from September 2014 to April 2018, where he most recently served as Spotify’s Chief Content Officer and Chief Strategy Officer. Prior to his tenure at Spotify, Mr. Blom held senior positions at EMI Music, most recently as the Chairman and CEO of EMI’s Nordic operations. Mr. Blom received his degree from KTH Royal Institute of Technology in Stockholm, Sweden.

 

  • Rich Bressler:  Mr. Bressler is the current President, COO and CFO of iHeartMedia. Before joining iHeart, Mr. Bressler was a Managing Director at THL. Prior to joining THL, Mr. Bressler’s experience included serving as Senior Executive Vice President and CFO of Viacom, Inc., as Chairman and CEO of Time Warner Digital Media, and as Executive Vice President and CFO of Time Warner Inc.

 

  •  Brad Gerstner:  Mr. Gerstner is the Founder and CEO of Altimeter Capital, an internet, software, and travel focused investment firm founded in 2008. Prior to launching Altimeter, Mr. Gerstner was the Co- founder of three internet search start-ups. Mr. Gerstner received his MBA from Harvard Business School.

 

  • Sean Mahoney:  Mr. Mahoney is a private investor. He currently serves as a director at two public companies, Aptiv plc and Arconic Inc., and at post-bankruptcy Lehman Brothers Holdings Inc. His prior board service includes Delphi Automotive plc and Formula One Holdings. Mr. Mahoney was a partner at Goldman, Sachs & Co., where he headed the Financial Sponsors Group, and Vice Chairman, Global Banking, at Deutsche Bank Securities. Mr. Mahoney is a graduate of the University of Chicago and Oxford University (which he attended on a Rhodes Scholarship).

 

  • Kamakshi Sivaramakrishnan:  Ms. Sivaramakrishnan is the founder and CEO of Drawbridge, a company focused on designing quantitative algorithms for numerous areas, including computational advertising. Prior to founding Drawbridge, Ms. Sivaramakrishnan was a Senior Research Scientist at AdMob which was acquired by Google in 2010. Ms. Sivaramakrishnan has her Ph.D. from Stanford University.

 

“We are excited about both the depth and range of our new Board members,” said Pittman.  “We know our ability to draw on the experience of this unique combination of leaders in their respective fields will give us an unparalleled competitive advantage as we build our next level of growth.”

iHeartMedia’s current Board of Directors will remain in place until the company emerges from Chapter 11, at which time the new Board will assume its responsibilities.

About iHeartMedia, Inc.

iHeartMedia, Inc. (PINK: IHRT) is one of the leading global media and entertainment companies specializing in radio, digital, outdoor, mobile, live events, social and on-demand entertainment and information services for local communities and providing premier opportunities for advertisers. For more company information visit iHeartMedia.com.

About Clear Channel Outdoor Holdings, Inc.

Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is one of the world’s largest outdoor advertising companies with over 450,000 displays in 31 countries across Asia, Europe, Latin America and North America. Reaching millions of people monthly, including consumers in 43 of the top 50 U.S. markets, Clear Channel Outdoor enables advertisers to engage with consumers through innovative advertising solutions. Clear Channel Outdoor is pioneering the integration of out-of-home with mobile and social platforms, and the company’s digital platform includes more than 1,200 digital billboards across 28 markets in the U.S. and more than 14,000 digital displays in international markets. More information is available at ClearChannelOutdoor.com and ClearChannelInternational.com.