New York – Sirius XM Radio (NASD: SIRI) announced on Thursday that key
on-air personality Howard Stern has signed a new five-year contract, which
includes exclusive mobile device rights. “On my first day in satellite
radio Sirius had approximately 600,000 subscribers. 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,” said Stern.
Financial terms of the deal —
which replaces Stern’s previous five-year, $500 million contract — were not
Stern had publicly grumbled about the prospects of taking a pay cut,
and rumors had floated that he was considering bringing his show to Apple’s
iTunes Store for distribution.