Hogan retires

HOGAN STEPS DOWN: Clear Channel Media and Entertainment is announcing the retirement of Chairman/CEO John Hogan, while Clear Channel Media Holdings Chairman/CEO Bob Pittman has inked a five-year extension of his deal. Hogan now becomes Chairman Emeritus, while CCM+E will now report directly to Pittman, President/CFO Rich Bressler and CC Outdoor Chairman William Eccleshare. Hogan has been at the company since 1999, becoming President/CEO of Radio in 2002 and Chairman/CEO in 2012. Pittman praised Hogan's work at the company, notably "during the unprecedented economic headwinds" of 2008-09, and described him as having been "an important element in Clear Channel's transformation into a multiplatform media company." For his own part, Pittman cited the success of iHeartRadio (which hit the 20 million users mark faster than any service in online history) and Clear Channel Outdoor's digital evolution as examples of progress that has "exceeded my expectations" in growing the company's reach and scope, adding, "I'm excited to commit to another five years with this amazing team of innovators." Stay tuned for updates. (1/13a)