Howard Stern for $100M a Year: Surely you can't be Sirius?
Sirius Satellite Radio announced a deal today to pay $100M a year in producing the Howard Stern show starting in 2006. This is a mind-boggling deal because Sirius has only 600,000 subscribers and doesn't even make any money. This is a strange result of the CBS Superbowl Janet Jackson fiasco. As result of the boob wardrobe mistake the government came down hard on Viacom, the owner of CBS, which then pressured the raunchy Howard Stern show. Stern got sick of it and fled to the unregulated promise land of satellite radio.
The company said it would need 1 million more subscribers to cover the cost of the deal. Unbelievable. Something is wrong with the world when something like the Howard Stern show costs $100M a year.
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