Radio pact reportedly worth $60 million
Ryan Seacrest is expanding his media empire yet again, sealing a new three-year deal with Clear Channel.
Under the new pact, reportedly worth $60 million, Seacrest will continue to host his five-hour morning drive show “On Air With Ryan Seacrest” for Clear Channel’s Los Angeles flagship, KIIS-FM.
“On Air” is also tailored for Clear Channel’s New York-based WHTZ-FM “Z100,” and a syndicated version — newly expanded to four hours — is distributed to other stations nationally.
Seacrest also continues to host “American Top 40,” distributed by Clear Channel’s Premiere Radio Networks.
As part of the deal, Seacrest also serves as a spokesman for Clear Channel via events and serves as a consultant with the conglom in its efforts to develop new radio and digital content.
Seacrest and Clear Channel have also launched a joint venture to develop new entertainment concepts — such as a record label, concert series, music publishing and TV content.
Seacrest’s $20 million annual salary from Clear Channel is a bump up from his previous deal, which was reportedly about $15 million a year. As part of his pact with Clear Channel, Seacrest retains some ad units from his shows.
“His experience and track record as a host and a producer and his extensive industry relationships make Ryan an ideal partner for the development of new vehicles as we drive growth opportunities across all of our radio platforms, on air, online and on-site,” said Clear Channel Radio prexy-CEO John Hogan.
The ever-busy Seacrest also holds lucrative deals with CKX, which owns “American Idol” (which Seacrest, of course, hosts) and Comcast Entertainment, where Seacrest serves as host of E!’s daily news program and also produces several programs. Seacrest’s production company is behind series including “Keeping Up With the Kardashians” and “Jamie Oliver’s Food Revolution.”
Seacrest began in radio as an intern at the age of 16.