Howard Stern inducts Bon Jovi on stage during the 33rd Annual Rock & Roll Hall of Fame Induction Ceremony at Public Auditorium on April 14, 2018. The shock jock legend is close to a massive new deal with Sirius XM.Getty Images For The Rock and Ro
Shock jock and “king of all media” Howard Stern is reportedly close to a new contract with Sirius XM Satellite Radio that would pay him nearly $120 million per year, Bloomberg reports.
Stern’s contract expires at the end of the year, and he has reportedly been negotiating his new contract for most of the year. He has previously signed five-year deals that ranged from $80 to $100 million a year.
The 66-year-old radio personality rose to fame with “The Howard Stern Show,” which was syndicated on radio from 1986 to 2005 before he signed with Sirius XM in 2006. He’s also racked up massive fines — the FCC has fined him more than $2.5 million for what was considered indecent content. New Jersey native comedian Artie Lange was on the show from 2001 to 2009.
“I can tell you that we understand the economics very, very well, for instance, of content like Howard Stern,” Sirius CEO Jim Meyer reportedly said at a Goldman Sachs conference. “I can look every investor in the eye and tell them that is a good investment for Sirius XM.”
Sirius stock had been down as much as 22% this year, but climbed 7% upon news that Stern’s new deal was close. There was some thought in the industry that Stern could leave Sirius for Spotify, a music service with a massive podcasting network. But Bloomberg reports talks with Stern and Spotify never went far.
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Howard Stern, SiriusXM Satellite Radio
Actu monde – US – Howard Stern’s new deal with Sirius XM to pay $120M a year