It's Official. John Hogan Out at Clear Channel.
UPDATED AT 8:30 A.M.
Clear Channel made the official announcement that John Hogan is retiring and to show Wall Street a move the company is stable, Chairman and CEO Bob Pittman has extended his contract with the company for another 5 years. Hogan joined Clear Channel in 1999 when the Company acquired Jacor Communications, where he was Senior Vice President of Radio. He was named Chief Operating Officer of Clear Channel Radio two years later, and became President and CEO of Clear Channel Radio in 2002. He was named as Chairman and CEO of Clear Channel Media and Entertainment in February 2012. Hogan has been given the title of Chairman emeritus of Clear Channel Media and Entertainment.
Clear Channel Media and Entertainment (the radio division) will now report directly to Pittman and Clear Channel’s President and Chief Financial Officer, Rich Bressler.
Pittman said of Hogan, “John Hogan has made tremendous contributions to Clear Channel during his tenure – particularly during the unprecedented economic headwinds our country, our industry and our company, faced in 2008 and 2009. He has been an excellent partner for me and for Clear Channel’s leadership as we have evolved into the only multi-platform media company with national reach and the ability to execute locally.”
Bob Pittman joined Clear Channel in November 2010 as an investor and the company’s Chairman of Media and Entertainment Platforms, became the CEO in 2011 and added the Chairman responsibilities in 2013. Pittman said, “I initially took on this role because of the one-of-kind assets at Clear Channel, with greater reach than any other media company in America, and its people, who have both the creativity and the drive to reinvent the company. The opportunity was irresistible – and it’s been validated by the success of the iHeartRadio digital service, which reached 20 million registered users faster than any service in the history of the Internet -- as well as the transformation of Clear Channel Outdoor to a true media company that connects brands to consumers in increasingly innovative ways, from digital boards to interactive bus shelters to virtual stores connected by mobile devices. The progress we've made in the last two years has exceeded my expectations and I'm excited to commit to another five years with this amazing team of dedicated innovators.”
EASLIER VERSION OF STORY BELOW
Rumors have been swirling for months about John Hogan retiring from radio's largest company. Radio Ink has learned that Clear Channel may announce, as early as today, the retirement of Hogan and his office has already been cleared out. Last week when we reached out to Clear Channel representatives about a possible Hogan retirement they quickly denied it, with company spokesperson Wendy Goldberg telling Radio Ink, "not true." Yesterday several Clear Channel representatives did not return any of our requests for comment. As a result of a Hogan retirement, we've also learned President of Operations for Major Markets, Tom Schurr will get more responsibility and Clear Channel CEO Bob Pittman will step into the role of CEO for Radio. Schurr has been responsible for the markets generating the most revenue for Clear Channel.
Back in June it was announced that Hogan would be moving from San Antonio to New York City to be closer to the office in which Clear Channel CEO Bob Pittman worked. He was also given a $125,000 raise (to $1.125 Million per year), a housing allowance and moving expenses.
Hogan was named Chairman and CEO of Clear Channel’s Media and Entertainment division in February 2012. Prior to that Hogan was President and CEO (since August 2002). Hogan has been with Clear Channel since 1999. He began his radio career in 1981 in Atlanta as an account executive with Meredith Broadcasting.
John Hogan has been on Radio Ink's 40 Most Powerful People in Radio list for 12 years. He held the number one spot in 2009 and 2010. He's been number two six times, including the last three years.