GOOG GOOG CCU CCU WIN WIN

Google Inc. (GOOG) (GOOG) and Clear Channel Communications Inc. (CCU) (CCU) announced a long-term agreement Sunday that will allow the Internet search leader to place advertising for its online customers on more than 675 Clear Channel radio stations.

"This radio partnership with Clear Channel is a pretty big statement that Google is in the radio industry to stay and have a big impact," said Drew Hilles, Google Audio's national sales director.

The agreement will give Google advertisers that had not relied on radio direct access to Clear Channel's national distribution system through an easy-to-use interface, Hilles said. It will also allow those customers to target their campaigns, reaching particular audiences in targeted locations at specific times, and to get quick feedback about their campaigns, he said.Financial terms of the deal were not disclosed.

"This is a true win-win," John Hogan, chief executive of Clear Channel's radio division, said in a statement. "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."