When Clear Channel shareholders meet this month to consider a pending takeover, the company can be sure of at least one thing: John Hogan will still be on board running the radio operation.
Reuters reported this week that Radio Chief Executive John Hogan signed a five-year renewal. “Retaining Hogan is seen as a key step to shoring up company leadership after its $17.9 billion takeover by private equity funds Thomas H. Lee Partners and Bain Capital,” the news agency reported.
“This management team will be on point to compete successfully against newspapers, cable, television and all of our other competitors,” it quoted CEO Mark Mays writing in an internal memo to employees.
Hogan was tapped to head up Clear Channel Radio, replacing Randy Michaels, in 2002. He’d been Radio COO before that.
The special meeting of shareholders is set for July 24.