The latest Howard Stern contract deal could push Sirius past the stratusphere and the satellites broadcasting his radio show.Â Stern's latest contract amount has not been disclosed but it will keep Stern, Robin Quivers and Jeff the Drunk on Sirius.Â It may also be quite rewarding for shareholders of SIRI in the coming years.
There had been rumors going around that Stern might not re-sign and would leave Sirius XM for iTunes.Â According to TIME, Stern's deal worth $500 million which he signed in 2006 ends this month.Â They note that TMZ reports his newest deal which will keep him on Sirius XM Radio for five years, is "very fair."Â No word yet on any signings by Quivers or other show regulars, but apparently this was a "last-minute" deal which saved Sirius from losing its top star, Howard Stern.
This news bodes well possibly for anyone who is a buyer of SIRI stock.Â The NASDAQ traded stock was up 8 cents at last check to $1.40.Â Â It's had a 52-week range of 56 cents to $1.44.Â Yahoo gives it a 1 year target estimate of $1.57, while many speculate this stock could take off in the next decade.Â Therefore, patience may be key in making money with Sirius.Â For Howard Stern, he's already made it, with many believing he's got a deal worth close to $1 Billion.Â His raunchy on-air antics will continue to be one of the top draws bringing in subscribers, and that could eventually translate to a nice payoff as more and more people add Sirius subscriptions to their cars or homes.
Do you believe the re-signing of Howard Stern to Sirius XM will eventually pay off for investors of the stock?
(Disclosure: Article author does not own SIRI at time of this report).