(Howard Stern's Road to Sirius XM updated with information on his new 5-year contract.)
NEW YORK (TheStreet) -- Howard Stern has announced that he will be staying on with Sirius XM (SIRI) for 5 more years.
Less than a month before his original 5-year, $500 million contract with Sirius was set to expire, the self-professed "King of All Media" announced during his morning talk show that he signed a new, 5-year contract with the satellite radio company.
As his contract neared its expiration date, negotiations between the satellite radio giant and the shock jock began to heat up. Reports speculated that Stern had plans of his own, claiming that Stern hinted at his own online venture or a possible mobile application.In September Stern told listeners that he was "pretty sure" he was going to leave the satellite radio industry, a few days after Sirius XM chief executive officer Mel Karmazin said he was "very confident" that Stern wasn't going to leave Sirius when the contract expired. Attracting attention to himself and the company by making a public display of his contract negotiations isn't a new tactic for Stern. It's a strategy that has been mastered by super star athletes and their agents. While the will-he, won't-he talk set the stage for negotiations, shareholders were left to sit on the sidelines and await an outcome that was sure to sway Sirius stock one way or the other. >>Sirius XM: Hirings, Firings and Negotiations Sirius executives have been in talks with several expiring programs to negotiate new contract terms. "We may not be able to secure new programming arrangements with one or more of these providers, or enter into new agreements at costs that are acceptable to us," the company said in its most recent quarterly report. Here is a look at Stern's career path and the contract negotiations, lawsuits and hefty FCC fines that he's accumulated along the way.
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