Peter Kafka

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Howard Stern Says Howard Stern Is Sticking With Sirius [UPDATED]

Howard Stern says he’s going to renew his expiring deal with Sirius XM and stay on the subscription radio service for another five years, say people who were listening to the Howard Stern show this morning. You’d think Sirius itself would make its own statement confirming Stern’s statement, but radio silence so far. But investors seem to be taking Stern at his word, and they’re pushing up SIRI shares in premarket trading.

UPDATE: Sirius now confirms the deal. It doesn’t offer up any new details except for this one: The company will now have the ability to transmit Stern’s show to mobile devices. Which would make the company’s mobile apps for, say, Apple’s iPhone and Google’s Android handsets much more attractive, and that’s a valuable deal point.

Press release:

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

NEW YORK, Dec. 9, 2010 /PRNewswire-FirstCall/ — 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.


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