Howard Stern is returning to Sirius XM with a new five-year deal worth an estimated $400 million.
The move will boost Sirius XM’s subscription base, as many users were waiting to see what direction the shock jock would take once his contract came to an end.
Sterm famously joined Sirius XM (just Sirius at the time) nearly five years ago, leaving free radio for a $500 million payday, and giving pay radio its first superstar.
While Stern’s payout isn’t quite as hefty this time, it is rumored that he’ll be cutting back the number of days he broadcasts.
The move boasted Sirius XM’s shares today.
Alex has written for Vanity Fair, Barrons, Bloomberg and Condé Nast Traveler.