Clear Channel to Share Broadcast & Digital Radio Revenue on Fearless Records Label

Clear Channel Media and Entertainment, the leading media company in America with a greater reach than any other radio or television outlet, and Fearless Records, an independent music label specializing in up-and-coming rock bands, today announced an agreement that will allow Fearless Records' artists to receive revenue from play on Clear Channel's digital and broadcast radio stations. This agreement is the latest step in establishing a sustainable business model for the Internet radio industry.

Fearless Records, founded in 1994, first gained recognition for helping to launch the careers of popular rock bands such as Plain White T's, At the Drive-In and The Aquabats!, and has since represented a diverse array of rock groups including Breathe Carolina, Mayday Parade, Eve 6, Piece The Veil, and The Summer Set. The label, based in Huntington Beach, California, is also known for its annual series of compilation albums titled Punk Goes..., which feature popular rock bands such as the All-American Rejects, Rise Against, and Yellowcard playing covers of songs outside their usual genres of music.

"Fearless has helped numerous musicians build their careers, helping them become prominent names in rock music. But without radio play, none of it would have been possible," said Fearless Records President Bob Becker. "Radio is where we introduced these successful artists to their fans and where fans go to discover new music from the bands they love, and we look forward to breaking more rock artists with the help of Clear Channel, on both broadcast radio and digitally, in the future."

"These market-based partnerships with record labels are part of Clear Channel's efforts to help build a sustainable business model for Internet radio," said Bob Pittman, CEO of Clear Channel. "We want to make sure that our fans can listen to the music they want whenever and wherever they want it. Fearless has helped launch the careers of a number of successful artists and we are excited to partner with them to continue to help listeners discover new music through the power of radio, whether on-air or online."

Clear Channel's forward-thinking agreement with Fearless follows several recent similar agreements, including Big Machine Label Group, Glassnote Entertainment Group, DashGo, rpm Entertainment, Robbins Entertainment, Naxos and Wind-up Records.

About Fearless Records

Formed in 1994, Fearless Records initially became known for launching the careers of respected rock acts such as Plain White T's, At The Drive-In, and The Aquabats!. In recent years, the Huntington Beach, CA label has become an internationally-renowned hotbed for up-and-coming rock bands, including Breathe Carolina, Mayday Parade, Eve 6, Piece The Veil, and The Summer Set. The label's current releases include Pierce The Veil's new album Collide With The Sky, which debuted at #12 on the Billboard Top 200, The Summer Set's irresistible anthem "Boomerang", currently receiving airplay on Top 40 radio stations across the country, and the dark cinematic thriller Infamous from Motionless In White, who's track "America" has been racking up the spins on Active Rock radio. Fearless Records established the successful Punk Goes... compilation series, featuring popular rock bands covering songs in other genres, releasing a compilation almost annually since its inception in 2000.

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 operations include radio broadcasting, online and mobile services and products, live concerts and events, syndication, music research services, and independent media representation. The company's radio stations and content can be heard on AM/FM stations, HD digital radiochannels, SiriusXM 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 used via navigation systems from TomTom, Garmin and others. 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, clearchanneloutdoor.com and ccmediaholdings.com.

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