THE DEALS: Radio broadcasting giant Clear Channel is taking a minority stake in the production company of “American Idol” host Ryan Seacrest. Clear Channel’s main investors are also committing $300 million combined to work with Seacrest’s company to identify, acquire and develop innovative media companies.
WHAT THIS MEANS: It’s Clear Channel’s way of breaking into TV. The company can use its massive radio network to help promote the TV shows.
THE BIGGER PICTURE: Clear Channel has been trying to spread its reach into forms of distribution beyond its more than 850 radio stations and network of outdoor billboards.
