SAN ANTONIO, TX -- It's no surprise that Mark Mays intends to give up his titles as President and CEO of Clear Channel; that plan was announced last June. But now, there's a timeline in place for the changes: he'll be out no later than March 31. But he'll remain involved as Chairman of Clear Channel's Board of Directors.
Clear Channel owns six stations in the Syracuse market, including market leaders WSYR and WBBS, according to Eastlan Fall 2010 Persons 12+ ratings, the latest publicly-available ratings data for the market.
According to radio-info.com, Mays made the announcement yesterday, to coincide with the release of Clear Channel's 4th quarter results. If a replacement is named sooner, Mays will exit the CEO/President post sooner. Should there be no replacement by March 31, the company will appoint interim leaders.
As we reported back in June 2010, Mark Mays will continue as Chairman until at least 2013. His brother Randall, whostepped down as President and CFO in October 2009, is Vice Chairman of the Board. Randall's contract also runs through 2013.
Clear Channel says radio revenues for 2010 were up 6% over 2009, attributing the growth to "an improved advertising environment driven by the strengthening economy." If you look at just Fourth Quarter alone, the numbers look even better -- up 10% compared to 2009.
The full report is posted on the company's website in PDF format.