• by Erik Sass  @eriksass1, April 16, 2007

In a move that greatly accelerates Google's reach into traditional media, the online search giant has struck a long-term agreement with the nation's largest radio broadcaster to place Google audio ads on more than 675 Clear Channel radio stations. The deal, announced late Sunday night, comes as Google solidifies its base in the online advertising world with a $3.1 billion deal to acquire online ad serving giant DoubleClick, and follows months of speculation on a hook-up with Clear Channel, and as Google has made significant inroads into the TV advertising business.

The timing of the deal is also significant for Clear Channel, which has been trying to convince its shareholders to approve a leverage buyout by private equity firms Thomas H. Lee and Bain Capital.

"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," Clear Channel Radio CEO John Hogan said in a joint statement released with Google late Sunday.

The 675-plus stations represent the core properties, which Clear Channel will retain after completing a previous plan to sell about 450 stations in smaller markets. As such, they offer some of the highest quality radio ad inventory available--a critical gain for Google. That inventory should be a boon to Google's plan to expand from online search and contextual advertising into traditional media, including radio, print and TV advertising.

Google already owns radio advertising sales rep, Dmarc, and recently struck a TV advertising deal with direct satellite TV operator EchoStar.