Google has entered into an agreement with Clear Channel to sell 30 second ads on a network of 675 stations owned by the latter. What seems to be win-win agreement for both, Google gains national coverage for its advertisers. It can also target specific audiences with time and geographic accuracy. For Clear Channel, this means an extra source of revenue. 

According to John Hogan, chief executive officer, Clear Channel Radio, “This is a true win-win. Clear Channel Radio gets access to an entirely new group of advertisers within a new and complementary sales channel, and Google adds another option for its existing customers.”

Eric Schmidt, chief executive officer, said Google was also equally excited about the deal. He said that “Clear Channel is the market leader in delivering radio value to consumers and advertisers and has built an innovative platform to manage its on-air ad inventory. We look forward to working with Clear Channel Radio by providing a unique set of advertisers and a system that will increase the effectiveness and measurability of connecting advertisers with radio listeners.”

Read the press release here. (http://www.clearchannel.com/Radio/PressRelease.aspx?PressReleaseID=1935 )

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