Howard Stern Has Signed A Contract with Sirius Satellite Radio
Howard STern has reportedly signed a five year contract with Sirius Satellite Radio worth over $100 million per year.
Sirius said it would spend $100 million per year to make the show, which includes $80 million for the salaries of Stern and his staff as well as other production costs, and $20 million in stock-based compensation. Sirius declined to give details on how the stock will be awarded.
By going on the subscriber based Sirius Radio, Howard Stern will be able to have free reign and control over his sometimes x-rated show.
The U.S. Federal Communications Commission regulates radio broadcast programs but does not regulate satellite radio programs. On his radio program on Wednesday Stern labeled the broadcast radio climate as "too restrictive" and lashed out at Clear Channel.
"I will bury you," he said. "I am not going to sit still and let Clear Channel win this battle against me, it's personal. Give me five years with this company Sirius."
Viacom spokesman Dana McClintock responded, saying: "We have 185 stations with a lot of great talent. This announcement is not material to Infinity or Viacom."