Clear Channel Radio president and CEO John Hogan finalized an agreement on Sunday night (June 29) that will keep him as the radio division’s leader for another five years, according to a Reuters report.
The new agreement sends a strong signal to the Clear Channel ranks and the industry that the private equity investment group acquiring Clear Channel Communications, Thomas H. Lee Partners and Bain Capital, has complete confidence in current management. Contractually, Hogan has been working on a day-to-day basis for the past year.
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