Posted on 01/05/2006 2:04:09 PM PST by DogBarkTree
NEW YORK Jan 5, 2006 — 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 since then.
(Excerpt) Read more at abcnews.go.com ...
BTW, Fox news just igned an exclusive deal w/ XM radio.
pull my finger
. . .except I signed on well before Howard showed up. . .think it is disgusting that he can get that much money from Sirius. . .what is really making me crazy, however. . .while he they are licking his boots. . .it seems they cannot get squared away right with Fox News. . .my main reason for having 'satellite' to begin with.
KOAM!
Stern Rules!
My worst fear. . .how could they let this happen. . .
this isn't on Stern.
It's on the management at Sirius.
Good for him.
What kinda business practice is this?? Sirius won't be around in a couple years.
Who or what is a "Howard Stern"? Sounds like a name for the south end of a northbound boat!
Hooray for Capitalism! Hooray for defeating the FCC and its wacky decency laws at its own game.
Stern gets $500million for a 5 year deal. All he has to do is average 1 million customers for Sirius that sign up because of him and they make a profit.
The thing is that Sirius has grown from a $1 billion company to an eight billion dollar compay turning around a two year slide that coincides with hiring Howard... it's good business..
http://finance.yahoo.com/q/bc?s=SIRI&t=5y
I have XM and listen to Fox News most of the time....
I would have to grudgingly agree with you that if Stern can get it then bully for him. However, if I were a stock holder Id be clammering for the "sell" button.
Honda and Acura have XM in their cars. I have to say my new car has XM in it and I love it. Glad to hear Fox news signed on. Satellite radio will be even better when there's more competition.
apparently.
of course, Satellite Radio is the coming thing. Why do I know this? I can't go a commercial break on my car radio without hearing an ad by the terrestrial radio stations saying "Some things should be free" or something to that effect.
That's how I know Satellite Radio is doing much better than it was.
But in a couple yars, IPods are going to make anything but news and talk radio obsolete.
I would have sold a while ago :)
Generally when a stock doubles, I seriously think about jumping out of it at some point....
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