Robin Hood Foundation to Distribute the First USD 50M of Initial Proceeds for ’12-12-12’ to Organizations Helping Victims of Hurricane Sandy (AcT)

Additional Proceeds Continue to be Raised Through On-Going Event Merchandise Sales; Online Auction of Exclusively Signed Memorabilia; U.S. Network Broadcast of Concert; and Future iTunes, DVD and CD Sales

NEW YORK, Dec. 19, 2012 (GLOBE NEWSWIRE) -- The producers of the "12-12-12" concert, which was presented by Chase, announced that the Robin Hood Foundation will distribute the first $50M of initial proceeds for "12-12-12" to organizations helping to aid victims of Hurricane Sandy. Fundraising efforts have included ticket sales, sponsorships, telephone and web donations and merchandise with additional money still coming in and being distributed to aid the victims of Hurricane Sandy. Additional "12-12-12" contributions and proceeds from online auctions of exclusively signed memorabilia, iTunes sales - which peaked at #1 on the iTunes chart as a pre-order, U.S. network broadcast of concert, DVD and CD sales, as well as continuing merchandise sales and additional revenue streams are expected. 

The event producers issued the following joint statement: "The historic '12-12-12' concert to benefit the victims of Hurricane Sandy was the largest concert event to ever hit the stage at Madison Square Garden, featuring the biggest names in music and the world's leading entertainers. We are forever grateful to the unlimited generosity that was shown to the people of the tri-state area from around the world. Through the collective efforts of the participating artists, celebrities, corporate partners and sponsors we will be able to make a meaningful difference for so many of our neighbors who were affected across the tri-state area. We thank everyone who made the event a resounding success."

Thanks to the generosity of concert organizers, sponsors, and Robin Hood's board of directors, every single penny from ticket purchases and donations will go to organizations serving the victims of Hurricane Sandy through the Robin Hood Relief Fund. The Robin Hood Relief Fund provides money, material and know-how to local organizations that are serving families and individuals in the regions hardest hit by the storm.

"The money raised to date is going right to hundreds of organizations in the tri-state area serving those who need it most. Robin Hood has already begun granting the funds for Sandy relief. We are continuing to raise funds through various ongoing sales opportunities and donations and we urge people to continue to contribute," said David Saltzman, executive director, Robin Hood Foundation.

The concert was produced by James Dolan, Executive Chairman of The Madison Square Garden Company; John Sykes, President of Clear Channel Entertainment Enterprises; and Harvey Weinstein, Co-Founder and Chairman of The Weinstein Company. It was presented by Chase.

The most up to date information on "12-12-12" can be found by visiting www.121212concert.org.

The "12-12-12" logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=15957

CONTACT: Clear Channel Media and Entertainment
Angel Aristone / AngelAristone@clearchannel.com
212.377.7802