Clear Channel CEO Bob Pittman tells the New York Times that the company's investment will allow it to "share in some of the success he's going to have, and to enable some of it." Neither side is disclosing the scope of Clear Channel's investment, but it is expected to yield "scripted and unscripted TV shows and other types of content for Clear Channel." Just recently, Seacrest announced a deal to be part of a new cable channel named AXS TV, which will replace Mark Cuban's HDNet. (It is speculated that Cuban will retain about a 50% stake in AXS.)

Separately, Clear Channel owners Bain Capital and Thomas H. Lee Partners have a new arrangement with Seacrest, where the multimedia personality and entrepreneur will "identify new investments and acquisitions", says the Times. The two private equity firms "have committed as much as $300 million to the initiative, which could focus on music publishers, technology companies or other companies", says the paper.