LOS ANGELES--(BUSINESS WIRE)-- Clear Channel Media and Entertainment today announced its new music and events venue — iHeartRadio Theater Los Angeles — which will launch on October 22 with a live Album Release Party featuring superstar recording artist Katy Perry. Located at The Burbank Studios in Burbank, CA, the 20,000 square foot performance space (formerly NBC Lot - Jay Leno Tonight Show) will bring fans intimate performances from top recording artists as well as unique events like exclusive iHeartRadio Album Release Parties, to provide artists, labels and partners with a variety of innovative promotional opportunities.