Controversial DJ Howard Stern has announced that he has signed another five-year contract to remain at Sirius/XM, The Hollywood Reporter has confirmed.
He said, “I have come to the conclusion that the real innovators, the real geniuses are the people here at Sirius… I have signed a five-year contract to stay at Sirius.”
The 56-year-old’s pre-existing $ 500 million contract with the radio station was due to finish at the end of December. Although he did not give any clues as to the monetary value of the new contract, he did refer to it as “very fair.”
David Frear, Sirius XM’s chief financial officer, suggested that the current contract may not pay as much as the last.
He said at a UBS conference last week, “At the time of the merger, we were in many long-term contracts… As they come up for renewal, we’ll have the opportunity to get more favorable economic terms there.”
Stern did confirm to his listeners that this would be the last time that he would renew the contract, saying, “I can say with almost certainty that this is my final five years on radio.”
Sources: The Hollywood Reporter / USA Today / Wall Street Journal
