Read the Clear Channel release here. There was an 11am Eastern time companywide conference call today, to discuss the re-branding.

CEO Bob Pittman says "I've watched as Clear Channel Radio has pushed beyond the traditional boundaries of radio to reach more Americans every month than any other media company, through an unmatched combination of broadcast, satellite, online and mobile assets." Now he says it is appropriate to re-brand "Clear Channel Radio." John Hogan, CEO of the re-titled Clear Channel Media & Entertainment, says "Radio is both our history and the foundation upon which we will grow our company, moving forward." The CC Media & Entertainment division of CC Media Holdings includes Premiere Networks, Total Traffic Network, the Katz Media Group and RCS. CC Media Holdings also includes Clear Channel Outdoor, which has a publicly-traded stock.