Shock jock Howard Stern announced this morning, on his show of course, that he has signed a new five-year deal with the company. The DJ spent a year teasing listeners with hints that he may leave, and the last few weeks have seen rumors that he would either retire, join the judging panel of American Idol or, like the rest of the world, partner with Apple. Instead, he stayed put.
He wouldn’t discuss the terms of the agreement, but given that his first deal, in 2004, got him $500 million in cash and stock it’s probably some serious Fuck-You Money.
Sirius is trading 6.5 percent higher today, which The Wall Street Journal tells us equates to $315 million added to the company’s evaluation.