NEW YORK (CelebrityAccess) — Noted radio Howard Stern is reportedly close to renewing his contract with SiriusXM in a deal that would boost his pay to $120 million a year.
According to Bloomberg, who first reported the story, sources familiar with the negotiations said that Stern has been negotiating terms for the deal for the better part of a year but is finally closing in on an agreement.
Bloomberg noted that Stern’s current five-year contract with SiriusXM, which comes to an end in December, was worth between $80 million to $100 million per year and covers the cost of production and staff for the show.
Stern, who left terrestrial radio and joined Sirius in 2005, has been a major part of the satellite broadcaster’s success and their willingness to pay top dollar speaks to his continuing relevance amid the rise of podcast content on rival music delivery platforms such as Spotify and Apple Music.
Sirius declined to comment, to Bloomberg, while reps for Stern did not respond to requests for comment, the publication said.