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Sirius XM's Mel Karmazin: 'We're Thrilled' Howard Stern Signed New Contract

Howard Stern
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"He is one of the few 'one-name' entertainers in the country and our 20 million subscribers are lucky to have him," added the CEO in a statement to THR.

Despite sometimes tense contract negotiations, Sirius XM's CEO Mel Karmazin is thrilled Howard Stern will spend five more years at the satellite station.

"Howard is a great talent and we are thrilled that he will continue to provoke, engage and entertain on Sirius XM," Karmazin said in a statement to The Hollywood Reporter. "Our agreement is good news on all fronts - it is good for Sirius XM subscribers and good for Sirius XM stockholders.

"Howard forever changed radio and was instrumental in putting Sirius on the map when he first launched on satellite radio," Karmazin added. "He is one of the few 'one-name' entertainers in the country and our 20 million subscribers are lucky to have him."

Stern in the statement highlighted that on his first day in satellite radio, Sirius had approximately 600,000 subscribers: "Today, the two companies have 20 million; and, in my view, we have just scratched the surface of how many people will get on board."

Stern announced on his radio show Thursday that he signed another five-year contract with Sirius/XM. Without discussing specific figures, he said it was "very fair."

His five-year, $500 million deal wraps up at the end of this year.

Stern's new contract will run through Dec. 31, 2015, with Sirius getting the right to transmit his programming to mobile devices, Sirius said without disclosing additional terms.

In the official Sirius announcement, Stern expressed excitement about  the outlook for reaching his fans on mobile. "Access to my show on mobile devices will open up additional opportunities for my fans to hear me wherever they are," he said.

The Sirius release also lauded the host's work over the years. "The world-renowned Stern is credited with revolutionizing the talk radio format," it said. "Known for his large and extremely loyal fan base and for his unequalled ability to migrate fans to other media, Stern has embarked on numerous highly successful ventures over the years."

It listed two books – Private Parts, which Sirius noted was Simon & Schuster's fastest-selling book ever, and Miss America, which it said was "the fastest-selling book in publishing history."  

He also starred in the film adaptation of Private Parts and "in one of the most watched entertainment pay-per-view special of all time," the announcement noted.