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Press Release

02/06/2004

Leading Electronics Company and Legendary Hollywood Landmark Set to Launch Entertainment Partnership

The WILTERN to become the WILTERN LG

  • The WILTERN to become the WILTERN LG
  • LG Electronics to preserve the historic character of the storied venue, while adding cutting-edge technology



    Seoul, Korea, September 23, 2003 - The Wiltern announced today that it will be re-named The Wiltern LG under a multi-year title sponsorship by LG Electronics, one of the world's largest consumer electronics companies.



    The Wiltern, located in Los Angeles, California and under the management of Clear Channel Entertainment, is one of the best examples of art deco remaining in Southern California and is listed in the National Register of Historic Places and as a Los Angeles Historical and Cultural Landmark.



    "This partnership with LG Electronics will enable The Wiltern to retain its historic character," said Alan DeZon, vice president, operations for Clear Channel Entertainment. "Under its new name, The Wiltern LG will offer a heightened entertainment experience and secure its position as an integral part of the greater Los Angeles community," Mr. Dezon continued.



    LG Electronics (Chairman and CEO John Koo/ www.lg.com) is a major global player in mobile phones, high definition televisions and internet-enabled home appliances and has recently introduced highly advanced mobile phones and Internet enabled home appliances to the U.S. market. Advanced plasma displays and other LG digital video products will be available in the U.S. beginning this fall for the first time. As part of its growing presence in the U.S., LG Electronics had sought community contribution opportunities, electing this sponsorship due to its very unique nature.



    "We appreciate The Wiltern for creating this valuable, one-of-the-kind opportunity to help preserve this historic venue," said John Koo, chairman and chief executive officer, LG Electronics. "We are committed to giving The Wiltern LG advanced amenities to compliment its unparalleled ambience. The inclusion of LG technology will ensure that the Los Angeles concert-goer has an experience unlike any other," Mr. Koo said.



    LG will set up product displays and demonstrations throughout The Wiltern LG to enable Southern California residents to become more familiar with the LG line of well-designed, ground-breaking digital products.



    Rated by both fans and artists alike as one of the most evocative and intimate concert venues in the West Coast, The Wiltern has a long and storied past. Originally built as a grand movie theater in 1931 (by Stiles O. Clements-partner of the oldest design firm in Los Angeles: Morgan, Walls & Clements), it hosted premieres and other gala events during the golden age of Hollywood. Since 1985, it has been a showcase for live entertainment events. In 2002, The Wiltern received a multi-million dollar transformation and was reopened with a stellar line up of concerts, including a three-night residency by Bob Dylan, plus a rare theater performance by the Rolling Stones.

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    About LG Electronics

    LG Electronics (Korea Stock Exchange: 6657.KS), established in 1958 as the pioneer in the Korean consumer electronics market, is a major global force in Electronics and Information & Communications products. More than 55,000 employees working in 76 overseas subsidiaries and marketing units around the world, strengthen LG Electronics' core competencies in three main business companies: Digital Appliance, Digital Display and Media, Telecommunication Equipment & Handset. LG Electronics is focused on promoting Home Network and Mobile Network businesses based on cutting-edge multimedia application technology along with Information and Communication Technology as its core business areas. For more information, please visit www.lg.com



    About Clear Channel Entertainment

    Clear Channel Worldwide (NYSE: CCU), a global leader in the out-of-home advertising industry. Clear Channel Entertainment currently owns, operates and/or exclusively books approximately 135 live entertainment venues and 1200 radio stations. The company, which operates throughout North America, Europe, South America and Australia, also owns independently operated athlete representation businesses to many of the world's top professional athletes. More information may be found by visiting www.cc.com and www.clearchannel.com
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