Clear Channel Outdoor Announces Launch of Hispanic Marketing Initiative
PHOENIX, Aug. 2 /PRNewswire/ -- Clear Channel Outdoor, a division of Clear Channel Worldwide (NYSE: CCU) announced today the launch of a Hispanic Marketing Initiative. Pedro (Peter) A. Milian Jr. of Miami, FL, who has been with the company 6 years, has been named Vice-President of Hispanic Business Development. Mr. Milian will oversee the initiative throughout the U.S. The 100-year-old company owns and operates outdoor advertising displays in over 45 US Markets including 9 of the top 10 Hispanic markets. The number of Hispanics in the country has surged nearly 60% since 1990 to 35.3 million, according to recently released Census data. Hispanic buying power is projected to rise from $207.5 billion in 1990 to $452.4 billion by the end of this year. Mr. Milian commented that, "Companies are realizing that one of the best ways to grow their business in the U.S. is to target the Hispanic Market. Clear Channel Outdoor is strategically positioned to help companies increase their market share and build loyalty in this highly brand conscious market segment. Add to that the fact that all Americans are spending more time commuting every day, the combination of radio and outdoor advertising will be necessary in order to reach consumers in a cost-effective manner." As anticipated, the growth of the U.S. Hispanic population continues to be dramatic. With the US Hispanic buying power expected to increase 2.3 times by the year 2010, Clear Channel Outdoors' Hispanic Marketing Initiative will seek to capitalize on this growth. "Outdoor advertising is one of the strongest media formats advertisers can use to target the Hispanic market. We are excited about the growth potential of this initiative and feel confident it will provide a strategic key to unlock the Hispanic category for us," said Rocky Sisson, Executive Vice President of Sales & Marketing for Clear Channel Outdoor. About Clear Channel Worldwide Clear Channel Worldwide, headquartered in San Antonio, Texas, is a global leader in the out-of home advertising industry with radio and television stations, outdoor displays, and entertainment venues in 63 countries around the world. Including announced transactions, Clear Channel operates approximately 1,180 radio and 19 television stations in the United States and has equity interests in over 240 radio stations internationally. Clear Channel also operates approximately 750,000 outdoor advertising displays, including billboards, street furniture and transit panels across the world. Clear Channel Entertainment is one of the world's largest diversified promoters, producers and presenters of live entertainment events and is a leading fully integrated sports marketing and management company. Certain statements in this release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X73275642
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