Summary Box: Clear Channel joining daily deal boom

AP News
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Posted: Dec 05, 2011 5:38 PM
Summary Box: Clear Channel joining daily deal boom

TIE-UP DEAL: Clear Channel Radio is getting into the daily deals business with Cumulus Media. Cumulus' 570 radio stations will join Clear Channel's iHeartRadio online listening service and, in exchange, share the financial benefits of its daily deals business called SweetJack.

ANOTHER FRONT: Clear Channel's iHeartRadio online service was launched in September as a clear challenge to Pandora Media Inc. Now it is taking a stab at another booming online business _ online coupons _ led by upstart Groupon Inc.

NATIONAL PRESENCE: SweetJack deals are available in 60 markets including San Francisco, New York, Dallas and Atlanta. Cumulus CEO Lew Dickey said the tie-up with Clear Channel will help expand the deals platform nationwide.