Howard Stern has signed a five-year deal to stay with Sirius/XM, the shock jock announced this morning on his satellite radio show.
The news comes less than a month before his current five-year, $500 million contract was set to expire. Stern's new deal runs through December 31, 2015.
"I have come to the conclusion that the real innovators, the real geniuses are the people here at Sirius," Stern told listeners on Thursday. "I have signed a five-year contract to stay at Sirius."
Stern did not disclose terms of the deal, only to say that Sirius was “very fair," and that the show will be made available on mobile devices — like Apple's iPhone and Google's Android — for the first time.
"Starting January 3rd, we will be here," Stern said. "It is important that we do a fresh morning show. It is what our fans really want."
The announcement comes after more than a year of sometimes-tense negotiations that were occasionally played out in public — with the 56-year-old Stern often hinting he might leave or scale back his schedule. For now, the show will remain in the 6:00 a.m. – 10:00 a.m., Monday – Thursday slot.
Stern said details of his schedule are still being negotiated, as is a formal plan for the mobile offerings. He also told listeners that he's going to look into offering the show as a paid podcast, too.
Earlier in the week, Stern slammed David Frear, the company's CFO, for his reported suggestion that Stern would have to take a paycut in order to return.
"I am not taking a f—ing paycut," Stern said. “Why would I have to take a paycut? … Who is this guy to say this in public?" (The next day, Stern relented, saying the report misinterpreted Frear's comments.)
"I know what I have done in this company," Stern said. "I am more important than Oprah, in this company anyway.
Shares of Sirius/XM were up 6.5 percent in morning trading on news of the deal.
Stern said Thursday that before settling with Sirius on a new deal, he "met with every f—ing company," including satellite, terrestrial and Internet radio. He did not mention talks with Apple, which had been the subject of some wild speculation late last week.
Stern added: "I can say with almost certainty that this is my final five years on radio."
UPDATE: Here's the press release from Sirius/XM:
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.
