Howard: No Deal Yet With SiriusXM, But I Like What I Hear

Satellite-radio star Howard Stern told listeners Wednesday morning that he isn’t yet close to a new contract with Sirius XM Holdings Inc., but he said the reported figures he’s heard sounded good to him, reports Bloomberg.

Stern is nearing a contract renewal that would boost his pay to US$120 million a year, Bloomberg News reported Tuesday, citing people familiar with the matter who asked not to be identified because talks are ongoing.

“I have seen no contract, I have heard nothing about this money,” Stern said on his SiriusXM show. He added, “I’m ready to take that deal if I can get it -- it sounded awesome.” Stern’s previous five-year contracts have paid him US$80 million to US$100 million a year.

Sirius shares were volatile in premarket trading Wednesday and gained after the open, rising as much as 5.9 per cent to US$5.89.

Stern said he called his agent upon hearing reports of his potential new contract and “we were both kind of baffled by it.”

“I am telling you with my hand over my heart, I don’t have anywhere near a deal,” Stern said.

However, laughing with co-host Robin Quivers, Stern added, “I’m telling Sirius now, whatever I read, I want. I’ll take that, right now. I’m a bad negotiator. I’m like, ‘OK, I’ll take it, I’m in, let’s do it.’”

Before moving on to talk about the late guitarist Eddie Van Halen, Stern said, “We’ll see what happens. There’s talks all over the place going on, that’s all I’ll tell you.”