• by Fern Siegel , July 30, 2013

Richard J. Bressler was tapped by CC Media Holdings and Clear Channel Communications as president/chief financial officer of CC Media Holdings, Inc. and Clear Channel Communications. He will also serve as CFO for Clear Channel Outdoor.

The former Time Warner and Viacom CFO will report to Chairman and CEO Robert Pittman.

Bressler also worked as managing director at Thomas H. Lee Partners, one of two private-equity firms that completed a multibillion-dollar acquisition of Clear Channel in 2008. Since then, Bressler has been a director of CC Media and Clear Channel. He is a seasoned executive with experience in media, digital and out-of-home businesses.

Pittman said Bressler was a strong strategic partner at Thomas H. Lee Partners and will now "play an even bigger role in helping Clear Channel fully maximize our unparalleled assets." Pittman said he recruited Bressler due to his "keen strategic, financial and analytical skills."

Bressler succeeds Tom Casey, who served as executive vice president and CFO of CC Media Holdings, Clear Channel Communications and Clear Channel Outdoor Holdings since 2010.

Prior to joining Thomas H. Lee Partners, Bressler was the senior executive vice president and CFO of Viacom, Inc. from 2001 through 2005. He also served as Chairman and CEO of Time Warner Digital Media, and was EVP and CFO of Time Warner, Inc. from 1995 to 1999.
 
In May, CC Media reported that its first-quarter loss grew as revenue dropped. Clear Channel Outdoor also registered a loss amid higher expenses .