Rapino Named CEO Of CCE SpinCo & CCE Announces Spin-Off From CCC

(CelebrityAccess MediaWire) —
Clear Channel Communications has named Michael Rapino as chief executive officer of CCE SpinCo, Inc., a newly created entity that will hold substantially all of the company's live entertainment businesses, including global music, global theater, sports representation and motor sports businesses. Rapino replaces Randall Mays, who was named Interim Chairman and CEO earlier this year.

"Michael's track record at Clear Channel Entertainment has been exemplary," said Mays, chief financial officer of Clear Channel Communications and chairman of CCE SpinCo, Inc. "Michael was the architect of Clear Channel Entertainment International's music strategy, expanding our European business from six to 16 countries and creating the leading international live entertainment company within a three-year period. Since taking over the U.S. business, he has quickly taken a leadership role inside Clear Channel and within the industry to strengthen key business relationships and refocus the live music division's priorities. His bold moves to increase event profitability have been matched by a strong fan-centric approach aimed at sparking market growth."

Rapino was most recently president and CEO of Global Music for Clear Channel Entertainment's Clear Channel Music Group. Prior to that, he led Clear Channel Entertainment's International music unit.

"Clear Channel Entertainment's collection of assets unites fans with the world's greatest performers, and I'm proud to be a part of that," said Rapino. "I look forward to helping steer our company into its next chapter as a global leader in live entertainment."

Before joining Clear Channel, Rapino was a co-founder of Core Audience Entertainment, a leading concert promoter and entertainment marketing company in Canada. Core Audience Entertainment was acquired by Clear Channel Entertainment (then SFX) in 1999. Prior to that, Rapino was a senior executive at Interbrew/Labatt's Breweries of Canada, heading Labatt's brand portfolio and its entertainment assets. –Bob Grossweiner and Jane Cohen

CCE Announces Spin-Off From CCC

(CelebrityAccess MediaWire) — Clear Channel Communications announced that it plans to officially spin-off it’s live entertainment division, temporarily named CCE Spinco, Inc.

The new name will be selected prior to the spin-off. The new company will hold substantially all of the entertainment business of Clear Channel Communications consisting of global music, global theater, sports representation and motor sports businesses.

The spin-off announcement coincides with Clear Channel Outdoor Holdings, Inc., the outdoor advertising subsidiary of CCC, filing their IPO with the Securities and Exchange Commission today. –by CelebrityAccess Staff Writers

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