A year ago when Howard Stern joined Sirius the stock was at $7. I kind of had a feeling he is not going to get that huge package that was announced and his move to satellite radio wouldn't pay off. Was it like 200 mill or so he signed up for? I did the math back then and I didn't think SIRI was able to increase their business to pay him... Today the news is that he is thinking of leaving. The stock is at $4....
I thought Stern sold all of his stock right when he started there? (Something like $250,000,000 worth of stock and options).
It is possible he sold most. I was refering to the Sirius side of the deal. Just to make up 250 mill for Stern, they needed 10 mill new costumers for 2 years and they still haven't made any money on the deal, just broke even... I think there was something like 1+ mill extra listeners after Stern came on board, but that was way less than what they hoped for... If Stern really sold his options, he was one smart cookie...
most rediculous thread ever. I listen to stern evertday. he's not leaving. siri gains 6000 new subs everyday and is now killling xm in sales and market share. stern has already paid for his deal by bringing millions of people over and save sirius prettty much. he offers greater content more than anyone else. xm will die in the coming yrs. also stern knows nothing about stock and how it works even tho he may own some. he has gone over this many times on his show. get your facts first.
he jokes about not knowing any thing about stock on his show and doesn't know how it works. most articles in the media are slanted against him because cbs and all radio hates him. he built infinity radio and made viacom all its money. he brought way more than a mill lisners to a PAY SERVICE nom the less no one else in media could pull this off.
Although you don't deserve an answer, here it is. If SIRI gets 6000 subscribers everyday, how many of them subscribing exclusively because of Howard? If only 145, than he doesn't deserve such a big payout... About him not knowing much about stock? Surely you jest! Only an idiot would sign a contract worth 200 mill that includes stocks, options and exercising dates....Howard is a lots of things, but he is not an idiot. I bet he knows more about stocks than you... And we are not discussing the quality of his show, just the business side of it. I don't care if you are a fan, just do the math how many years SIRI needs just to pay him off....
Thinking about it, SIRI probably got the better deal. Howard is sitting on a shitload of options, but the stockprice has fallen 40% since he singed on. No wonder he is thinking of leaving... Also, I think he cares about the quantity of his audience. SIRI has 4.6 mill subscribers and even if every 4th is listening to him, that is only 1.2 mill people and that is way less what he used to have....
rumours of split up http://www.streetinsider.com/Basic+...+Reports+of+Return+to+Free+Radio/1197742.htmll