SFX today announced that effective immediately the company is changing its name to Clear Channel Entertainment. The company has also announced the several executive management appointments and promotions, including the appointment of Steve Smith as Executive Vice President and Chief Operating Officer and the creation of a new Television operating group to capitalize on intellectual properties of the company.
Clear Channel Entertainment (formerly SFX) chairman and CEO Brian Becker said, “This is a natural step for the company to make, given how closely we have been working with Clear Channel Radio, Outdoor, Television, Interactive, and International during the 11 months since our acquisition. Formally adopting ‘Clear Channel’ as part of our name will help consumers and marketers more easily identify and understand the vast array of media and entertainment products, assets and resources available throughout Clear Channel Worldwide. If they understand who and what we are, they are more likely to understand how they can be doing business with us.”
Mr. Becker added, “At the same time, the brand ‘SFX’ has come to be recognized as the undisputed leader in live entertainment production and promotion, and we will work hard to ensure we don’t lose any of that equity.”
Today’s executive management announcements include the appointment of Steve Smith, to the post of EVP and COO. Formerly a corporate executive vice president, Smith joined the company in 1998, “Appointing Steve as our COO is an ideal fit for our organization, and a well-deserved promotion as well,” said Becker. “Steve has an intimate understanding of all our operations, and a long and successful history in the entertainment business. Additionally, we share a common vision for how to maximize the abundant opportunities that exist by having all our assets under one roof. Perhaps most important, as EVP of our synergy efforts he has demonstrated an uncanny ability to navigate uncharted waters to deliver significant and tangible results.”
In addition, the company named Mike Trager to the post of Chairman of the newly formed Television division. Becker said, “We have already enjoyed success by producing online webcasts of many of our concerts, award-winning documentaries, hit television series like “Arli$$,” and major motion pictures such as the upcoming “Summer Catch,” and “Hardball.” That is just the beginning of what Mike, Joel (Feld) and their team can do in merchandising our intellectual properties for over-the-air and cable networks, the web, pay-per-view, and other distribution channels.”
Other promotions and appointments are: Former President of Marketing Paula Balzer to the position of Chief Marketing Officer. Jeff Lewis, former Chairman of Clear Channel Entertainment’s motor sports business promoted to the post of Chairman, Sports. CFO Ed Stacey has been named EVP and Chief Financial and Administrative Officer and Dale Head joins the company after 10 years at Maxxam Corporation as General Counsel.
