THE CW AND CLEAR CHANNEL MEDIA AND ENTERTAINMENT ANNOUNCE MULTI-YEAR BROADCAST AGREEMENT FOR THE IHEARTRADIO MUSIC FESTIVAL

The CW Network will be the Exclusive Broadcast Home of the iHeartRadio Music Festival, iHeartRadio's Holiday Jingle Ball and the iHeartRadio Ultimate Pool Party

The CW Also to Broadcast Album Release Parties and Other Concert Specials

Partnership Kicks Off with The CW's Broadcast of the iHeartRadio Ultimate Pool Party, July 15, 2013, 8-10 pm

May 16, 2013 (New York, NY) - The CW Network and Clear Channel Media and Entertainment today announced a multi-year partnership making The CW the exclusive television broadcaster of the two-day, star-studded iHeartRadio Music Festival. The CW will also be the exclusive broadcast home of iHeartRadio's holiday Jingle Ball concert, the iHeartRadio Ultimate Pool Party, album release parties and other concert specials. The agreement also gives the CW exclusive streaming rights to the television specials on CWTV.com following the broadcasts. The three-year agreement, beginning with The CW's broadcast of the iHeartRadio Ultimate Pool Party in July, was announced today by Mark Pedowitz, President, The CW, and John Sykes, President of Clear Channel Entertainment Enterprises.

"The CW is synonymous with what's now and what's next, and that includes music," said Pedowitz. "We have always been known for using the hottest, most of-the-moment music, both on our shows and in our marketing campaigns. Partnering with Clear Channel to present the biggest concert events of the year for our viewers is a natural fit for us, and also gives us more original event programming throughout the year."

"This is an ideal opportunity to take the original content that we create at Clear Channel to new platforms and audiences," said Sykes. "We chose The CW as our partner because we share the same powerful connection to a highly influential young demographic."

The CW will broadcast:

· The iHeartRadio Ultimate Pool Party, Monday, July 15, 8-10 pm ET/PT. The iHeartRadio Ultimate Pool party is a two-day musical weekend event at the Fontainebleau Miami Beach, June 28-29, 2013, as part of the Fontainebleau's BleauLive concert series, and will feature performances by popular recording artists Pitbull, Ke$ha, Afrojack, Icona Pop and Krewella.

· The iHeartRadio Music Festival, the two-day, start-studded music event returning to MGM Grand in Las Vegas on September 20 and 21, 2013. Artist lineup and a broadcast date will be announced in July.

· iHeartRadio's Jingle Ball, Clear Channel's long-standing holiday concert franchise featuring the biggest names of the year in music with surprise superstar guests. Artist line-up and a broadcast date will be announced in the Fall.

· iHeartRadio album release parties, Clear Channel's new, breakout live music series featuring superstar artists performing their new music in front of a live audience and sharing behind-the-scenes stories on the eve of their album releases, and other concert events throughout the year.

About The CW

THE CW TELEVISION NETWORK, a joint venture between Warner Bros. Entertainment and CBS Corporation, made its debut on September 20, 2006 as America's fifth broadcast network and is the only network specifically targeting viewers ages 18-34, a demographic highly sought after by advertisers. Delivering a total of 30 hours of programming a week, The CW offers a five-night, 10-hour primetime lineup that runs Monday through Friday. In daytime, The CW broadcasts a Monday through Friday afternoon block, and a five-hour Saturday morning block. For more information, visit www.cwtv.com

About Clear Channel Media and Entertainment

With 243 million monthly listeners in the U.S., Clear Channel Media and Entertainment has the largest reach of any radio or television outlet in America. Clear Channel Media and Entertainment serves 150 cities through 850 owned radio stations. The company's radio stations and content can be heard on AM/FM stations, HD digital radio channels, Sirius XM satellite radio, on the Internet at iHeartRadio.com and on the company's radio station websites, on the iHeartRadio mobile application on iPads and smartphones, and via navigation systems including TomTom, Garmin and others.

The company's operations include radio broadcasting, online and mobile services and products, live concerts and events, syndication, music research services and independent media representation. Clear Channel Media and Entertainment is a division of CC Media Holdings, Inc. (OTCBB: CCMO), a leading global media and entertainment company. More information on the company can be found at ClearChannel.com.

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