Clear Channel promotes Pittman to CEO

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(Reuters) - U.S. radio and advertising company Clear Channel Media Holdings said on Sunday it had promoted Bob Pittman to the position of chief executive officer.

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Pittman, a well-known media executive and investor, has been Clear Channel's chairman of media and entertainment platforms since November 2010, the company said in a statement.

Pittman will also join the board of Clear Channel and its subsidiary Clear Channel Communications. He will become executive chairman of advertising unit Clear Channel Outdoor Holdings.

Pittman has been CEO of MTV Networks, AOL Networks, Six Flags Theme Parks, Quantum Media, Century 21 Real Estate, and Time Warner Enterprises. He was also COO of America Online Inc and AOL Time Warner.

(Reporting by Michael Erman in New York; Editing by Dale Hudson)