|
Dec 21, 2009 Stern's threat to quit Sirius XM Radio Inc could be empty talk Howard Stern is threatening to leave Sirius Inc. This threat probably seems less daunting to Sirius now that it once would have. The company and Stern are getting set to enter into contract talks in 2010. Sirius Radio Inc. formerly wanted Stern much and so they gave him the most lucrative radio contract ever. The contract was started in 2006 which was a five-year deal and paid him $500 million in cash and stock. Stern does not have many places left to go, if he wants another huge payday. Now a days free radio stations are struggling with high debts and drops in advertising. As a result, they will probably not able to pay top dollar to get Stern back to the medium where he began. Sirius closely avoided needing bankruptcy protection by getting $530 million in financing from Liberty Media corp. Now the question for Sirius is how much less they can pay to Stern to still keep him.
|
