Posted by chicagomedia.org on July 28, 2008 at 21:50:52:
Clear Channel Communications Inc. said Monday it will launch an online radio network that offers more than 900 stations, including independent online stations.
Clear Channel, the nation's largest owner and operator of radio stations, said its Clear Channel Radio and Katz Media Group units will be collaborating to form the network.
The radio unit operates Clear Channel's radio stations, and online listening is available through the stations' individual Web sites. Katz handles media sales and marketing for radio and TV stations, as well as other companies.
The new network, Katz Online Network, will combine Clear Channel radio stations, Katz's radio partners and independent online stations. San Antonio-based Clear Channel will aggregate access through one Web site, to be launched next month.
The Katz Online Network also includes AM and FM station streams and syndicated shows.
The network will have the widest marketing reach in online radio. In June, its stations cumulatively reached an audience of 4.7 million, according to Ando Media in Providence, R.I., which measures online audiences. This is the number of individuals who listened to a station for a minimum of five minutes within a set period.
But among station groups, CBS Radio Inc. had the highest online audience ratings in June, according to Ando Media. It reached 2.45 million listeners compared with Clear Channel's 1.85 million. Clear Channel was on top in May.
In mid-May, CBS teamed with AOL Radio to provide online streams from all 140 of its stations to AOL's online radio service. Their streams are supported by advertising, which CBS Radio sells. AOL, a part of Time Warner Inc. in New York, will share in those revenues.
Shares of Clear Channel ended the day's trading unchanged at $35.88.
(Yahoo Finance)