Howard Stern Officially Signs His Monster Deal For Five More Years At SiriusXM
Source - Howard Stern, the “King of All Media, will continue to make satellite radio giant SiriusXM his home, extending his long-running deal with the company for his flagship show by five years.
The deal, unveiled on Tuesday, also covers the Stern archive for seven additional years. Financial terms weren't disclosed.
Stern, 66, is currently working under a five-year deal, estimated to be worth as much as $100 million a year, with Sirius that expires at the end of this year. Recent chatter had focused on the new deal being for up to $120 million per year.
SiriusXM's Jim Meyer, who is leaving the post of CEO at the end of this year to focus on the vice chairman role, has in recent months repeatedly said that a Stern deal renewal was a key focus for him, and he was hoping for news on that around the company's third-quarter earnings call on Oct. 20.
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Well there you have it. Howard Stern, "The King Of All Media", has officially signed his deal with SiriusXM. We covered this extensively when the news first broke and it looks like everything we suspected is true. He'll be making anywhere from $100-120 million PER YEAR. Some people say it's too much, some say it's not enough. Personally, I think it's just right. Howard Stern is SirusXM. His audience is just as big and his fans are just as passionate as they've ever been. The only difference is Howard's not as crazy, which is a good thing. If he was still doing the same schtick he did at the height of his career it would be bizarre.
Here's what SiriusXM's CEO Jim Meyer had to say about the deal:
Meyer said that he has been "really clear" that "I want Howard Stern to be on SiriusXM for as long as Howard wants to work," lauding their "tremendous relationship" that has "never been better." In July, the executive said talks had picked up steam, adding “we’ll keep working and we'll get there, I hope. At the end of the day, it will come down to what Howard wants to do." Meyer also told a recent investor conference that the deals with Stern have made financial sense. “We have had Howard for 15 years and I am sure that every penny we paid Howard our shareholders have benefited [from],” he said.
Sirius also has rights to Stern's catalog through 2027 which will help "lower the risk of him joining a rival service." Given that Stern will be 71-years-old when his contract expires, I doubt that will happen. Regardless, I think everyone saw this deal coming. Five more years of Stern it is...
Now here's a clip of Howard tricking Sal into thinking he didn't renew this contract. Enjoy...