×
You will be redirected back to your article in seconds

Howard Stern Sets New Five-Year Deal with SiriusXM Satellite Radio That Includes Video Plans

Howard Stern has struck a new five-year deal with SiriusXM Satellite Radio that includes plans for a streaming video component to augment his four-hour daily radio program.

The famed shock j0ck announced the agreement live on his show shortly after 7 a.m. ET on Tuesday. Details of the video plan were not immediately clear but SiriusXM said the pact includes a 12-year deal giving SiriusXM rights to video and audio material from Stern’s 30-year radio career and a plan “to launch its first venture into video programming with Howard.”

News of the deal sent SiriusXM shares soaring as much as 5% when the markets opened. As of noon, the stock was up 2.75% to $4.11. SiriusXM is controlled by John Malone’s Liberty Media.

Stern also has a separate pact with Lloyd Braun’s Whalerock Industries to create an Internet hub for all things Stern — a deal that lead to speculation that the radio veteran would pursue a direct-to-consumer option if SiriusXM balked at a rich renewal deal. But SiriusXM’s emphasis on the video component and long-term library rights in the new pact would seem to limit Stern’s ability to launch much of an online service.

Stern referred to a streaming video service in talking up the deal and expressing his affection for SiriusXM CEO Jim Meyer.

“I am living a dream here on satellite radio and Jim Meyer is my life partner and the baby we are about to have is our new streaming video app,” he said.

After some tough talk from Stern, who teased listeners on Monday that Wednesday might mark his last show, the star hailed the new deal in his own inimitable way.

“As a broadcaster, it does not get any better than working at SiriusXM and I’m truly excited for the future with this great company. I happen to think that its best days are ahead,” Stern said. “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.”

Stern has been the cornerstone of Sirius XM’s service since 2004, prior to Sirius’ merger with XM Satellite Radio. He signed his most recent five-year contract with the company in 2010. He has earned an estimated $80 million a year under that contract.

Negotiations went down to the wire, as Stern’s contract formally expires at year’s end but his last new show of 2015 is set for Wednesday.

Meyer made it clear in public statements during the past year that he hoped to keep Stern but not at a price that breaks the bank. Financial details of the new deal were not immediately available.

Stern’s longtime agent, Don Buchwald, called it a “cutting edge and truly unique broadcasting agreement” that “required a lot of give and take, as well as creative thinking on everyone’s part.”

Earlier this year, Stern ended his four-season run as a judge on NBC’s summer talent show “America’s Got Talent.”

Stern is credited with helping to build up SiriusXM’s subscriber base to nearly 33 million in the U.S. and Canada. Today, seven out of every 10 new cars sold in North America come with a SiriusXM free trial, and Stern is known to be a major draw for users to sign up as paying customers.

More Biz

  • splice

    Splice Raises $57.5 Million in Latest Funding Round

    Splice, a favorite of music creators that allows access to a library of three million rights-cleared sounds, announced today that the company closed a Series C funding round at $57.5 million. That brings Splice’s total amount raised to roughly $102 million since its launch in 2013. It raised a Series B in November of 2017. [...]

  • WGA Agents Contract Tug of War

    WGA Leaders to Meet With Showrunners on Agency Packaging Fight (EXCLUSIVE)

    WGA leaders are set to meet Wednesday night with a group of showrunners who are raising concerns about the guild’s handling of negotiations with talent agents over the issue of packaging fees and agency-affiliated productions. The meeting is set for 7:30 p.m. at WGA West headquarters. WGA West president David Goodman is expected to attend. [...]

  • Bill Murray St Vincent 2014

    Weinstein Co. Sued Over Trademark Infringement in Bill Murray Film

    A horse-racing announcer has sued the Weinstein Co., claiming that the company infringed on his trademarked phrase in a 2014 Bill Murray movie. Dave Johnson is the man behind “And down the stretch they come!,” which he began using while calling races in Illinois in the 1960s. The phrase took off when Johnson moved to [...]

  • HALLIE ANDERSON AND JESSICA PAGE Mom

    Mom + Pop Promotes Hallie Anderson and Jessica Page to Co-General Managers

    Mom + Pop Music has promoted Hallie Anderson to co-GM and head of marketing and Jessica Page to co-GM and head of digital, the company announced today. They had previously served as VP of marketing and VP of digital strategy, respectively. “Being able to promote, empower and support Hallie and Jess in their new positions [...]

  • Disney Fox Takeover Placeholder

    Disney, Fox Employees Grapple With Day One Transition on Two Hollywood Lots

    What kind of a boss will Disney be? That’s a question facing employees at 20th Century Fox, Fox Searchlight, National Geographic Partners, FX Networks, and other assorted parts of Rupert Murdoch’s former media empire. Wednesday was their first full day as staffers of the Walt Disney Co. and the initial moves have done little to [...]

  • Jay Wilson Joins Mascot Label Group

    Jay Wilson Joins Mascot Label Group as VP of Publicity

    Jay Wilson has been named VP of publicity for Mascot Label Group, the company announced today. A veteran of Republic, Glassnote and Universal Records, In his new position Wilson will conceive and implement media strategies for the company and its roster of artists such as Beth Hart, James Morrison, P.O.D., Robert Randolph and the Family [...]

  • Tencent Music Shares Drop Despite Solid

    Tencent Music Shares Drop Despite Solid First Earnings Report

    Proving that good is not always good enough, Tencent Music Entertainment shares fell 9 percent after the Chinese company released its 2018 earnings, wiping out $2.7 billion in market capitalization of what is arguably the biggest audio music service in the world. Chalk it up to big expectations and a short track record: Wednesday’s earnings [...]

More From Our Brands

Access exclusive content