 |
Howard Stern
|
The 12-year agreement calls for Stern, who will turn 62 in January, to host the “The Howard Stern Show” on Sirius XM for the next five years as well as start a video-programming venture, according to a statement Tuesday. Stern, whose previous five-year deal with SiriusXM was set to expire Wednesday, first reported the new contract on his morning show.
Stern remains one of the top rainmakers in American radio almost a decade after leaving broadcast. Though terms of the deal weren’t disclosed, Bank of America analyst Jessica Reif Cohen estimates that Stern will make $90 million a year in salary, up from $80 million in his current contract. The show will turn 10 in January.
“I happen to think that its best days are ahead,” Stern said in the statement. Then, in his trademark provoking tone, he continued: “So, if you are not listening to SiriusXM and The Howard Stern Show, then you are really more like a zombie, a rotting corpse monster, living half a life, deadened and blackened inside. It’s as if you were still watching black and white television while shopping in actual stores on your way to the post office to fax a memo.”
Shares of SiriusXM climbed 3.5 percent to $4.14 in early trading in New York after gaining 14 percent this year. The company, controlled by Liberty Media and billionaire cable magnate John Malone, has developed a large U.S. following, particularly among high-end car owners with built-in satellite radio. As part of the deal with Stern, SiriusXM also will get to use Stern’s vast archive of audio and video performances spanning his more-than 30-year career in broadcasting.
Liberty Media last month announced the creation of tracking stocks for Sirius XM and the Atlanta Braves baseball, creating pure-play investments for those assets. The tracking stocks were the latest of many complicated financial maneuvers that have enabled Malone’s empire to save taxes and develop targeted investments over the years.
readmore
0 komentar:
Posting Komentar