Bloomberg reported on Wednesday that the shock talk-radio host is reportedly close to renewing his contract with Sirius XM that would boost his pay to about $120 million a year and continue broadcasting and podcasting over the next three years.
Stern’s contract with Sirius XM expires at the end of December, and the 66-year-old has been negotiating a fresh deal for the better part of the year, Bloomberg reported, citing people familiar with the conversations.
Industry-watchers had speculated that Stern could leave Sirius for rival Spotify Technology (SPOT) - Get Report, which has built a large podcasting operation to complement its online music service, though sources told Bloomberg that discussions with Spotify petered out a while ago, and that talks with Sirius were relatively advanced.
Stern has been for years among Sirius XM’s biggest draws. Once a dominant syndicated presence on terrestrial radio, Stern helped draw millions of listeners to satellite radio when he joined Sirius back in 2005.
Indeed, the pay package being bantered about for Stern is significantly higher than other talk-radio and podcasting stars, including popular podcast host and mixed martial arts commentator Joe Rogan.
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