After getting used to referring to all the individual promoters acquired by SFX as SFX, effective immediately, the company has changed its name to Clear Channel Entertainment to reflect the synergies between the other divisions of its parent company, Clear Channel Worldwide.
"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," said Brian Becker, Clear Channel Entertainment chairman and CEO. "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."
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. `Our name change to Clear Channel Entertainment is consistent with Clear Channel's Worldwide vision of building a seamless brand that represents global leadership in out-of-home advertising, be it through radio, outdoor, television or live entertainment."
The business units now operating under the Clear Channel Entertainment name are SFX Entertainment (SFX), SFX Music Group, SFX Theatrical Group, SFX Family Entertainment, SFX Multimedia, SFX Television and SFX Motor Sports.
The SFX name is only being retained in athlete-related areas. SFX Sports Group is now operating under SFX Baseball, SFX Basketball, SFX Football, SFX Golf, SFX Tennis and SFX Media.
In tandem with the name change announcement, new management appointments have been made. Executive Vice President Steve Smith was upped to chief operating officer. Ed Stacey was appointed chief financial and administrative officer, Paula Balzer was named chief marketing officer, Mike Trager becomes head of television, and Jeff Lewis is chairman of the sports division. Dale Head, senior associate general counsel at Maxxam Corp. in Houston, was hired as general counsel.
Clear Channel Entertainment is headquartered in New York.
