US-based media company Clear Channel reportedly invested in Ryan Seacrest Media, an investment vehicle of the eponymous US radio star, in January, with its private equity backers Thomas H Lee and Bain Capital committing to invest $300m in new projects with the company in January,.
Clear Channel chief executive Bob Pittman said: "Ryan is an unmatched creative talent with success across more media platforms and involvement with a greater variety of programming and venues than anyone else in the industry. His combination of business acumen and keen understanding of consumers and popular entertainment is an incredible asset. We’re eager to collaborate with him in developing new and significant opportunities in the television arena in a way that can maximize our relationships with music and other talent, bring greater benefits to our advertisers, and further build Clear Channel’s singular ability to deliver local, mobile and social execution across a truly national audience base.”