Howard Stern signs new 5-year deal with SIRIUS XM Radio
Howard Stern has signed a new 5-year deal with Sirius XM Radio, which will continue to broadcast his hit show and other programs on his Howard 100 and Howard 101 channels until the end of 2015.
The 56-year-old shock jock, whose current show includes explicit content, swearing and interviews with major international celebrities as well as porn stars, made the announcement on his program on Thursday. Under the new agreement, SIRIUS XM will also be allowed to provide his content on mobile devices.
The staff of the Howard Stern Show, including longtime sidekick Robin Quivers, Baba Booey and Bubba the Love Sponge, are also set to continue working on the program during that time but will negotiate their own, separate salary agreements.
"On my first day in satellite radio, SIRIUS had approximately 600,000 subscribers," Stern said in a statement provided by SIRIUS XM. "Today, the two companies have 20 million and, in my view, we have just scratched the surface of how many people will get on board."
Investors had been concerned that the network's subscribers would abandon the radio service if Stern left. Thee company's shares rose more than 6 percent following news of Stern's new deal. Sirius XM CEO Mel Karmazin said the agreement was "good for Sirius XM and good for Sirius XM stockholders."
Stern has been a radio host since the 1970s and his show has aired on television. He moved to satellite radio in 2006 following a dispute with terrestrial radio stations that had carried his syndicated show over alleged indecent programming, which led to Federal Communications Commission fines of $2.5 million.
Moments from his career and beef with the FCC and his then-boss were showcased in the 1997 comedy film "Private Parts".
Stern did not disclose his new salary that was promised in his new deal, but joked on his show on Thursday: "It's ballpark, 100 billion."
The host's previous 5-year agreement, which expires this month, had promised him $500 million. He had ranted on his show earlier this week that he refused to take a pay cut, following comments by SIRIUS XM's chief financial officer, who told a UBS investor conference in New York on Monday that Stern would have to work for less money to remain on the air.
"I know what I have done in this company," Stern had said. "I am more important than Oprah, in this company anyway."