Howard Stern in negotiations with Sirius XM on $120M annual deal … as his current contract expires at year’s end
- Shock jock’s current contract expires at the end of the year
- He’s estimated to bring in around $80M to $100M annually
- Sirius XM Jim Meyer is focused on inking the signing before his departure
Howard Stern is working on a contract extension worth around $120 million with Sirius XM.
The King of All Media, 66, has been in talked with Sirius XM for much of 2020 about the extension, according to Bloomberg, with a pay raise from his current annual salary.
He’s previously signed five-year deals in the range of $80 million to $100 million annually, which also includes salaries for his staffers.
The latest: Howard Stern, 67, is working on a contract extension worth around $120 million with Sirius XM
The company’s Chief Executive Officer Jim Meyer, who is departing the company at year’s end, is focused on inking the signing before his departure.
‘I can tell you that we understand the economics very, very well, for instance, of content like Howard Stern,’ Meyer said in September speaking at a Goldman Sachs function. ‘I can look every investor in the eye and tell them that is a good investment for Sirius XM.’
Meyer last month said at a BofA event that he was ‘personally deeply engaged in conversations with Howard’s team’ and that things were going well, according to Deadline. ‘I am very optimistic about those conversations. We continue to make progress.’
He added: ‘We have had Howard for 15 years and I am sure that every penny we paid Howard our shareholders have benefited. And I have been really clear, I want Howard Stern to work at SiriusXM as long as Howard Stern wants to work.’
Focused: Stern, snapped last year in the Hamptons, is negotiating with the company
Stern has previously signed five-year deals in the range of $80 million to $100 million annually, which also includes salaries for his staffers
Stern has initially departed terrestrial radio for satellite in early 2006, later re-upping with the satellite company with contracts in 2010 and 2015.
Stern’s camp has had negotiations with podcasting giant Spotify, sources told the outlet reported, but they did not advance far.
According to the outlet, Sirius XM in 2019 profited nearly $1 billion over $7.8 billion in sales for subscriptions. Last year, it bought both the music service Pandora and podcaster Stitcher.
Also in 2019, the Private Parts star visited the West Coast to open a SiriusXM studio in Hollywood with high-profile guests including Jennifer Aniston, Robert Downey Jr. and Adam Levine.
Stern, who co-hosts the show with Robin Quivers, has been doing his show remotely amid the outbreak of COVID-19 this past March.
On air: Stern, who co-hosts the show with Robin Quivers, has been doing his show remotely amid the outbreak of COVID-19 this past March
Stern has initially departed terrestrial radio for satellite in early 2006, later re-upping with the satellite company with contracts in 2010 and 2015