Posted by chicagomedia.org on December 11, 2008 at 20:31:09:
Clear Channel Radio lands Verizon as multicast radio sponsor
San Antonio Business Journal
Thursday, December 11, 2008 - 12:45 PM CST
Clear Channel Radio has inked a national advertising contract with Verizon Wireless that will allow the mobile telephone company to be the first sponsor of the broadcaster's HD2 multicast stations.
The high-definition radio multicasts will stream on 21 radio stations in both on-air and online formats. Through multicasting technology, a single radio station can broadcast multiple digital signals that can be picked up using special receivers.
Verizon New Music, as the programming will be called, will air on Clear Channel Radio's stations in top markets like New York, Chicago, Los Angeles and Washington, D.C. Verizon New Music will feature blocks of songs and interviews with hot new artists, Clear Channel officials say.
Financial terms of the contract were not disclosed.
Clear Channel Radio was a founding member of the HD Digital Radio Alliance, a joint initiative backed by some of the country's leading radio broadcasters to accelerate the development of HD Digital Radio. Today, Clear Channel has 700 HD2 stations in all nationwide.
Basking Ridge, N.J.-based Verizon Wireless is a joint venture of Verizon Communications Inc. (NYSE: VZ) in New York and Vodafone Group Plc (LSE: VOD) in Berkshire, UK.
Clear Channel Radio is a division of San Antonio-based Clear Channel Communications Inc., a company owned by CC Media Holdings Inc. (OTCBB: CCMO).