Stern to Sirius: "Is That A Bonus In Your Pants, Or Are You Just Happy To See Me?"

Stern to Sirius: "Is That A Bonus In Your Pants, Or Are You Just Happy To See Me?"
On Tuesday, Howard Stern was awarded an $82.9 million bonus in Sirius stock when he achieved more than the desired numbers for subscribers--a goal that was set two years ago when he started broadcasting his satellite radio show with the company. Only one year into his gig with Sirius, this bonus comes in addition to his $500 million salary that he was reportedly given in return for his five year contract. USA Today reports:

Sirius said in a statement that it paid Stern slightly more than 22 million shares of stock after exceeding a year-end subscriber goal for 2006 by more than two million. Sirius ended last year with just over 6 million subscribers, compared with projections of about 3.5 million from Wall Street analysts when the company signed Stern's employment agreement. Stern could stand to gain other stock bonuses in the future if the company meets annual subscriber targets, but these would have to be beat by a far greater amount, Sirius said in a statement. Sirius said the shares issued in Stern's bonus as well as any others likely to be issued to him would not increase its share count since other share warrants are likely to expire in the meantime.
All I got from that was, "blah, blah, blah, LOTS OF MONEY." In other news, Liquid Lunch Podcast is still free. And desperate for attention.

Howard Stern gets $82.9 million stock bonus [USA Today]

(WENN)

Published 1/10/07 by


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