Clear Channel Changes Name To iHeartMedia

The radio broadcasting giant Clear Channel announced Tuesday that it has made the move to change its name to iHeartMedia, a platform it uses for internet radio.

CNet reporters that CEO Bob Pittman said, "It's clear that no other company can match our reach or broad spectrum of media platform, success in becoming a one-of-a-kind multiplatform media company with unparalleled reach and impact."

Changing the name allows for the company to parallel other tech-centered radio streaming companies like Pandora. Branding Clear Channel as iHeartMedia allows consumers to recognize that the company itself is changing to what is currently prominent in radio broadcasting.

"We are the largest mobile media company in existence -more than 60 percent of our broadcast usage is out of home, compared to just 30 percent for other mobile devices - and we deliver more live programming than any other media company today, built on the national and local on-air personalities who are the heart of our powerful broadcast radio franchises."

Other aspect of Clear Channel will remain the same such as Billboard arm and Clear Channel Outdoor.

"You have the buzz," Pittman said. "If you want to play in a big sandbox, come play with us, because we really crush everybody else in terms of total usage."

Pittman's confidence can be backed with statistics as iHeartMedia operates 859 radio stations has 245 million listeners a month, 90 million digital monthly unique, syndicates 90 radio programs, 5,500 radio affiliates and has a Total Traffic and Weather Network and 20,000 live music events.

"We have a massive consumer reach and influence across our platform because we know how to program across our platforms, because we know how to program live content people want to hear, see and share right now."