Folks on the Yahoo boards report the announcement on his show this morning. No details, but it is for a 5 year deal. Stock popping big time
Stern announced today he is STAYING!
- Thread starter Giantsfan
- Start date
- Latest activity Latest activity:
- Replies 17
- Views 3K
Best part of the show is when Sal The Stockbroker showed up late and didnt hear the news, so Howard had another announcement and told everyone he decided to leave. The news caused Sal to burst into tears crying... and everyone on the show starting making fun of Sal for being late and for his crying.
Now if I only they would give Bubba the time of day and sign him for another contract. I have tons of other choices for music now that a free so I really don't need it anymore, if my afternoon drive is gone I don't see the point of paying for it anymore.
I hear its not looking too good for Bubba, he is too interested in his new subscription Podcast site which he thinks will pay him more then Sirius.
Just download the Shoutcast App and search for Howard and listen in for free.
Thats how I have been listening on my Android since his show is blocked from the official Sirius App.
I don't feel I am cheating Sirius since I am paying for the service.
Thats how I have been listening on my Android since his show is blocked from the official Sirius App.
I don't feel I am cheating Sirius since I am paying for the service.
Here is the press release... (I have never seen such a sloppy press release before, it was them that didn't put spaces between the lines...)
NEW YORK – December 9, 2010 – Howard Stern and SIRIUS XM Radio (NASDAQ: SIRI) today announced a new five-year agreement. The news was first reported by Howard during his show this morning.
“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 Howard Stern. “I am especially excited that my show will now be heard through SIRIUS XM on mobile devices. Access to my show on mobile devices will open up additional opportunities for my fans to hear me wherever they are.”
“Howard is a great talent and we are thrilled that he will continue to provoke, engage and entertain on SIRIUS XM. Our agreement is good news on all fronts – it is good for SIRIUS XM subscribers and good for SIRIUS XM stockholders. Howard forever changed radio and was instrumental in putting SIRIUS on the map when he first launched on satellite radio. He is one of the few ‘one-name’ entertainers in the country and our 20 million subscribers are lucky to have him,” said Mel Karmazin, Chief Executive Officer, SIRIUS XM.
The world-renowned Stern is credited with revolutionizing the talk radio format. Known for his large and extremely loyal fan base and for his unequalled ability to migrate fans to other media, Stern has embarked on numerous highly successful ventures over the years. Stern has written two best-selling books – Private Parts, which was Simon & Schuster's fastest-selling book ever, and Miss America, the fastest-selling book in publishing history. He later starred in the highly successful motion picture adaptation of Private Parts, orchestrated one of the fastest-selling soundtracks in motion picture history and has starred in one of the most watched entertainment pay-per-view special of all time.
Howard’s new contract will run through December 31, 2015. Under the terms of the new contract, SIRIUS XM will now have the right to transmit Howard’s exclusive programming to mobile devices. Additional terms of the contract will not be disclosed.
HOWARD STERN SIGNS
NEW FIVE-YEAR CONTRACT WITH SIRIUS XM
Agreement Includes Rights for SIRIUS XM to
Transmit Howard Stern’s Programming to Mobile Devices
“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 Howard Stern. “I am especially excited that my show will now be heard through SIRIUS XM on mobile devices. Access to my show on mobile devices will open up additional opportunities for my fans to hear me wherever they are.”
“Howard is a great talent and we are thrilled that he will continue to provoke, engage and entertain on SIRIUS XM. Our agreement is good news on all fronts – it is good for SIRIUS XM subscribers and good for SIRIUS XM stockholders. Howard forever changed radio and was instrumental in putting SIRIUS on the map when he first launched on satellite radio. He is one of the few ‘one-name’ entertainers in the country and our 20 million subscribers are lucky to have him,” said Mel Karmazin, Chief Executive Officer, SIRIUS XM.
The world-renowned Stern is credited with revolutionizing the talk radio format. Known for his large and extremely loyal fan base and for his unequalled ability to migrate fans to other media, Stern has embarked on numerous highly successful ventures over the years. Stern has written two best-selling books – Private Parts, which was Simon & Schuster's fastest-selling book ever, and Miss America, the fastest-selling book in publishing history. He later starred in the highly successful motion picture adaptation of Private Parts, orchestrated one of the fastest-selling soundtracks in motion picture history and has starred in one of the most watched entertainment pay-per-view special of all time.
Howard’s new contract will run through December 31, 2015. Under the terms of the new contract, SIRIUS XM will now have the right to transmit Howard’s exclusive programming to mobile devices. Additional terms of the contract will not be disclosed.
Well there ya go. Wonder when they will update the channel list to include Howard on all the apps? Not a Howard fan, but I'm glad this will continue to bring people to Sirius/XM.
I don't know, I think there's just too much of a barrier to entry to getting paid podcasts to work that it's just not worth it. Unless iTunes started offering a subscription model, I really can't see how they can prevent people from just torrenting episodes. Stick with ads. It works with Leo.
I don't know, I think there's just too much of a barrier to entry to getting paid podcasts to work that it's just not worth it. Unless iTunes started offering a subscription model, I really can't see how they can prevent people from just torrenting episodes. Stick with ads. It works with Leo.
Is he still going to be Mon - Thu? Really hate having to listen to best of or something like O&A on Friday morning. I usually listen to O&A on my way home. Basically, Friday car rides throw me off.
DustoMan said:
Not. Sure when the sirius app will have it in the list but I found a iPhone app call " musicdock" that has all the channels. It works great but has pauses every once in a while.
Great.. So now the rates are gonna go up again to pay for him. Whoopee the stock netted 7 whole cents on that announcement.. Doesn't change the fact that it has lost nearly 100% of its value since his first contract was signed. Betcha it gives back that 7 cents and then some within a week. I also find it very suspicious that it dropped 5 cents yesterday on high volume, the day before the announcement, and spiked 9 cents on high volume on the initial announcement - I'm sure the SEC will be looking into that too because it reeks of insider trading and manipulation. He's nowhere near as relevant as he thinks he is, and he sure as hell wasn't worth the half billion dollars he got the first time.
Last edited:
Analyst: Howard Stern's deal worth $400 million
By Georg Szalai Georg Szalai – 1 hr 43 mins ago
NEW YORK (Hollywood Reporter) – Sirius XM and Howard Stern on Thursday morning didn't detail financial terms of their new five year relationship, but at least one analyst estimates it is worth $400 million over the term of the contract, compared to $500 million for his previous five-year contract.
Lazard Capital Markets analyst Barton Crockett in a first reaction estimated that the deal is likely consistent with his expectations and consistent with the cash payments Stern has received in his first Sirius deal, but the shock jock likely loses the stock portion of his compensation.
Wall Street analysts wondered though if Stern may work only three instead of four days a week given that he had expressed an interest in scaling back his time commitment.
"We have been modeling that Stern would remain, as part of flattish overall programing costs, whereby Stern continues to receive $80 million cash per year, consistent with his former deal expiring at year-end," Crockett said. "We had also assumed no stock, a step down from the $100 million, five-year stock component of the former deal."
Crockett told The Hollywood Reporter though that there may be other ways Stern may get added value from his new contract. He mentioned success-based compensation, such as in the form of bonus-type payments if the rollout of his programing on mobile devices hits certain targets, as a possibility. Or he may work less than under his previous deal. "There is tons of flexibility to structure this, but we just don't know for sure without disclosures," Crockett said.
The analyst said he assumes that the new Stern deal is costing Sirius less than the first one or the same amount at most because CFO David Frear guided Wall Street observers to expect an "overall modest long-term easing of programing costs" in a conference appearance earlier this week. Crockett said he is maintaining his $1.65 price target on Sirius shares.
David Joyce, analyst at Miller Tabak, also said he is not sure how many days Stern will work. His most recent model calls for $60 million per year for three work days a week, but Stern may as well have decided to stay at four days for $80 million a year. Assuming unchanged cash earnings, hat would give Stern $300 million-$400 million.
Either way, Wall Street reacted positively to the news of the contract renewal, which observers argued will allow Sirius to maintain its recent subscriber momentum without overpaying. Plus, it gives the company the right to get Stern onto mobile devices. The stock ended 5.7% higher at $1.39 Thursday, far outpacing a flat overall market.
"This is a net positive for Sirius," said Joyce: "This talent retention should salvage Sirius' subscriber...(and financial) growth."
Analyst: Howard Stern's deal worth $400 million - Yahoo! News
By Georg Szalai Georg Szalai – 1 hr 43 mins ago
NEW YORK (Hollywood Reporter) – Sirius XM and Howard Stern on Thursday morning didn't detail financial terms of their new five year relationship, but at least one analyst estimates it is worth $400 million over the term of the contract, compared to $500 million for his previous five-year contract.
Lazard Capital Markets analyst Barton Crockett in a first reaction estimated that the deal is likely consistent with his expectations and consistent with the cash payments Stern has received in his first Sirius deal, but the shock jock likely loses the stock portion of his compensation.
Wall Street analysts wondered though if Stern may work only three instead of four days a week given that he had expressed an interest in scaling back his time commitment.
"We have been modeling that Stern would remain, as part of flattish overall programing costs, whereby Stern continues to receive $80 million cash per year, consistent with his former deal expiring at year-end," Crockett said. "We had also assumed no stock, a step down from the $100 million, five-year stock component of the former deal."
Crockett told The Hollywood Reporter though that there may be other ways Stern may get added value from his new contract. He mentioned success-based compensation, such as in the form of bonus-type payments if the rollout of his programing on mobile devices hits certain targets, as a possibility. Or he may work less than under his previous deal. "There is tons of flexibility to structure this, but we just don't know for sure without disclosures," Crockett said.
The analyst said he assumes that the new Stern deal is costing Sirius less than the first one or the same amount at most because CFO David Frear guided Wall Street observers to expect an "overall modest long-term easing of programing costs" in a conference appearance earlier this week. Crockett said he is maintaining his $1.65 price target on Sirius shares.
David Joyce, analyst at Miller Tabak, also said he is not sure how many days Stern will work. His most recent model calls for $60 million per year for three work days a week, but Stern may as well have decided to stay at four days for $80 million a year. Assuming unchanged cash earnings, hat would give Stern $300 million-$400 million.
Either way, Wall Street reacted positively to the news of the contract renewal, which observers argued will allow Sirius to maintain its recent subscriber momentum without overpaying. Plus, it gives the company the right to get Stern onto mobile devices. The stock ended 5.7% higher at $1.39 Thursday, far outpacing a flat overall market.
"This is a net positive for Sirius," said Joyce: "This talent retention should salvage Sirius' subscriber...(and financial) growth."
Analyst: Howard Stern's deal worth $400 million - Yahoo! News
Similar threads
