May 19, 2011: Clear Channel Communications parent CC Media Holdings held its annual shareholders' meeting on Tuesday, with shareholders electing 12 nominees to the board of directors, including former CEO Mark Mays and former president/CFO Randall Mays.
Additionally, an advisory vote was held on how often the company should hold advisory votes on its executive compensation. A majority of shareholders voted that such votes should be held every three years, and the board is taking the advice and will include the vote in proxy materials every three years -- until the next advisory vote on the frequency of advisory votes is due. The SEC requires a vote at least once every six years.
Entercom Communications also held its shareholders' meeting on May 17, electing its board and getting shareholder approval for an amendment to the company's equity compensation plan. Entercom's shareholders also voted to hold an advisory vote on executive compensation every three years.
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