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(NewsNation) — The buzz in radio this summer has all been about Howard Stern — and whether he’s being dropped by SiriusXM.
Stern’s five-year contract is up with the company, and industry insiders say no way will it resign him for the same five-year, $100 million a year deal.
But Sirius still wants him… just not at the current price.
Howard Stern return delayed a week
According to The Hollywood Reporter, Scott Greenstein, President and Chief Content Officer and SiriusXM, spoke at a Bank of America conference on Wednesday and said he wanted Stern to stay at Sirius but added the deal would have to “make sense.”
“So Howard, for all these years and right up until now, is as important a content, single piece of content as we’ve had from the sense of being a lightning rod to get awareness for the service and publicity and all of that. He’s the best interviewer out there, period, bar none. And we’ve always had a series, as all of you know, of renewals. With any talent at that level, you’re always going to have an extended period of negotiations. We’ve been pretty lucky all these years. We’d love them to stay. It certainly has to make sense, but we feel pretty good that we’ve done this before, and we’ll see where it goes,” Greenstein said.
“I think he’s been core to our platform for over 20 years. So I’m confident we’ll get to the right place,” CEO and director Jennifer Witz added.
Radio disc jockey Howard Stern on air at WNBC-AM radio station in New York City in this undated 1985 photograph. (Photo by Don Jacobsen/ Newsday RM via Getty Images)
Howard Stern inducts Bon Jovi onstage during the 33rd Annual Rock & Roll Hall of Fame Induction Ceremony at Public Auditorium on April 14, 2018, in Cleveland, Ohio. (Photo by Kevin Kane/Getty Images For The Rock and Roll Hall of Fame)
“America’s Got Talent” judges Howie Mandel, from left, Heidi Klum, Howard Stern and Mel B attend the “America’s Got Talent” Season 8 Meet The Judges Red Carpet Event at Hammerstein Ballroom on April 9, 2013, in New York City. (Photo by Michael Loccisano/Getty Images)
Translation? Stern will have to accept a “major” pay cut if he is to stay, my sources said, with one adding: “That kind of money ($500 million) doesn’t make sense anymore with his numbers.”
Howard Stern eclipsed by younger podcasters
Stern has been eclipsed in numbers by younger podcasters like “Call Her Daddy” host Alex Cooper, who signed a multi-year deal with Sirius for $125 million last year.
Meanwhile, Travis and Jason Kelce’s podcast, “New Heights,” was picked up for a three-year deal by Amazon’s Wondery for $100 million.
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While Cooper’s and the Kelce brothers’ deals are eye-popping and have bigger numbers than Stern’s, neither podcaster is getting $100 million per year.
Even Joe Rogan, who regularly leads all podcast rankings, doesn’t make $100 million a year in his current deal. Rogan signed on with Spotify last year for an undisclosed ”multi-year” deal worth $250 million.
“If Howard wants to stay, he’s going to have to take a major pay cut,” my source said.
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