After having struck expensive deals with such Hollywood personalities as Oprah Winfrey, Martha Stewart and Jamie Foxx, Sirius XM has been asking some of its top radio talent to take dramatic cuts in pay, according to a story at hollywoodreporter.com.
So said Bubba the Love Sponge, who for five years was the No. 2 talk-show host at Sirius XM until he quit a few days ago after he says management tried to cut his salary by 80%.
In December, CFO David Frear talked of "more favorable economic terms" as content deals came up for renewal, so it's no secret that Sirius XM is trying to rein in costs. If a glimpse into Bubba's salary negotiations is any indication, the cost-cutting measures could be brutal.
Even top talker Howard Stern hasn't been immune, as analysts figure he re-upped at Sirius XM for about $80 million a year, down from a previous deal that had him earning $100 million annually.
Read more here.
No comments:
Post a Comment