Howard Stern to Get $220M in Sirius Stock

[edbermac]

NEW YORK - Sirius Satellite Radio Inc. will give Howard Stern 34 million shares of stock — worth about $220 million at today's prices — because the company has met agreed-upon targets for gaining new subscribers under its 2004 deal with the shock jock.

In a regulatory filing Thursday, Sirius said its subscriber count as of Dec. 31, 2005, exceeded the target it had agreed upon with Stern in October 2004, when it made a five-year deal with him.

At the time, Sirius said its deal with Stern would be worth about $100 million per year beginning in 2006. The 34.4 million shares were worth about $110 million then, but the stock has roughly doubled. The increase has given Stern a windfall of about $100 million to date.

Stern begins his new show on Sirius on Jan. 9, having left his longtime employer Infinity Broadcasting, which has been renamed CBS Radio, a unit of CBS Corp.

http://news.yahoo.com/s/ap/20060105/ap_on_bi_ge/sirius_stern_stock;_ylt=Aum2HovQRFL.jGyxBciEdm2s0NUE;_ylu=X3oDMTA3bGI2aDNqBHNlYwM3NDk-

Holy shit! All that money for spanking lesbians and telling fart jokes?? I'm in the wrong profession...x(

P.S. He'll be on Larry King tonight...that should be interesting...

[benburch]

1. And he gets strippers for free...

:evilgrin:

[TrueAmerican]

2. No wonder Sirius can't afford real programming like Air America

and MLB radio. They spent their wad on Howard Stern.

[rinsd]

5. Both have fine programming....

...why people still get snippy about the AAR deal is beyond me.

[soothsayer]

3. Mazel tov! I wish him the best, and look forward to his show on

Monday!

[Dogmudgeon]

4. Spanking lesbians and telling fart jokes

He's still sixty million behind Rush Limbaugh, who gets $280 million for just plain old farting.

--p!

[Toots]

6. His stock has fallen about a dollar a share since Christmas

He has lost 34.4 million dollars in two weeks. Almost as bad as Bush*

[MrSlayer]

7. Good for him.

He deserves it.

[redherring]

8. I bought sirius stocks when they were $7.10 approximately

Now it's at 6.39 or so. Sirius has hundres of millions of dollars in debt, and I have no idea when they're gonna break even. I think they're paying Stern too much, but I do hope he does help Sirius bring in more subscribers.