Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

Exclusive: Lipsher leaves Clear Channel

January 3, 2012: 2:48 PM ET

Radio giant changes M&A boss.

Drew Lipsher is no longer running business development at Clear Channel Communications (CCMO), Fortune has learned.

Lipsher joined the media and advertising giant last April, after having spent nearly five years as a venture capitalist with Greycroft Partners, which focuses on early-stage digital media investments. Before Greycroft, Lipsher was a senior corporate development exec with such companies as Interscope-Geffen-A&M, News Corp. and BMG Entertainment.

Two-word explanation: Bob Pittman.

Pittman was installed as Clear Channel's CEO last October, and began bringing in some of his own people. One of them was Steven Cutler – a partner at Pittman's Pilot Group investment firm – who in late December joined in the newly-created position of "senior VP of business development and corporate strategy."

A Clear Channel spokeswoman says that Lipsher's departure and Cutler's arrival were unrelated, but a source familiar with the situation (and common sense) says otherwise. No comment yet from Lipsher.

Sign up for my daily email newsletter on deals and deal-makers: GetTermSheet.com

Join the Conversation
About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

Email a Tip | @danprimack | RSS
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by WordPress.com VIP.