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Friday, September 3, 2010

Howard Stern stirs the Rumor Mill with contract speculation

Howard Stern

Stern is “pretty sure” he’ll be leaving satellite radio when his five-year deal at Sirius XM is up in December, he said on Thursday’s show. But then began listing options that include staying, but perhaps on a third channel and perhaps working fewer hours. The Sirius XM signature personality says he’s still interested in doing radio, but not necessarily for Sirius XM. Aside for salary and other compensation, another negotiating point is contract length. Stern says Sirius XM wants a second five-year deal, but he’s not crazy about that, tying himself up through 2015. Stern’s current deal was made for approximately $100 million annually in cash an stock. On its recent second quarter call, Sirius XM CFO David Frear said “We hope that prior to the third quarter earnings call, we will be able to have an announcement as to what is going on with Howard.” That may be the company’s timetable, but not Stern’s. His terrestrial radio renewals were sometimes incomplete even as he started his December holiday and left the air.

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