Email from Mark Mays to CCU staffers
Good afternoon,
As you can see from the attached release, we are continuing to look at ways to realize Clear Channel's full potential as a company. We have all built strong, market-leading businesses together. We continually outperform our peers in our industries, and we continue to bring fresh and innovative products and services to our customers.
You've all heard me say that growth is good. It enables us to invest in new and emerging businesses - recent examples here include the digital billboard initiative of Clear Channel Outdoor and the Online Music & Radio unit of Clear Channel Radio. And growth creates opportunities for professional advancement and long-term success.
We have always structured Clear Channel to stimulate growth and we continue to look for ways to enhance our structure on an ongoing basis. Market dynamics evolve and recognizing and accepting this evolution enables us all to respond and best position ourselves for future success. Most recently, of course, we realigned the company, spinning off live entertainment and making 10% of our Outdoor unit publicly held. Each of these actions better equipped our operating units to compete and grow in their markets.
It's important that we all remain focused on continued progress in each of our business initiatives. We are doing important work for our customers and for our industries. Thank you, again, for all of your hard work and for remaining focused on that.
If you're contacted by members of the investment community about this topic, please refer them to Randy Palmer at [XXX]. If you are contacted by members of the media, please refer them to Lisa Dollinger at [XXX].
Sincerely,
Mark Mays
