Freelancer Cari Lynn is contributing to Deadline’s coverage of the All Things D Conference.
UPDATE, 10:30 AM: Clear Channel and Ryan Seacrest have a lot to offer each other in the investment deals announced earlier today, the radio giant’s CEO Bob Pittman says. The TV personality is now “one of our biggest stars,” Pittman told a conference sponsored by All Things D. Meanwhile, the radio company — which also has big ambitions in television and live entertainment — can provide Seacrest with marketing firepower. “We have 238M (listeners) per month, with 250 city affiliates,” Pittman says. “Why can’t we use our own advertising to cross promote (Seacrest)?” Pittman remains bullish on traditional broadcast radio. “We tried HD, commercial-free radio, and no one came. Why? They’ve already got 200 choices.” What’s more, he says that fans of Internet and satellite radio also “listen to more broadcast radio than the average user.”
PREVIOUS: 3:49 AM: This morning’s announcement involves two deals: First, Bain Capital and Thomas H. Lee Partners are putting $300M into Ryan Seacrest Media, the radio and TV personality’s investment holding company. And, second, Clear Channel — which is controlled by the investment firms — is buying a minority stake in Ryan Seacrest Productions, responsible for TV shows including Keeping Up With The Kardashians. Clear Channel chief Bob Pittman has said that he wants to expand and diversify the radio giant’s media presence. The companies didn’t disclose specific terms of their deals. Here’s the release: