Howard Stern and Sirius XM Agree To Keep Certain Documents Sealed
While Howard Stern and Sirius XM (NASDAQ:SIRI) certainly do not agree on whether or not Stern and his agent, Don Buchwald, are entitled to additional bonuses, they have come to an agreement on the desire to keep certain documents in the case private. I guess you could say that Howard wants Private Parts (perhaps not the sequel he had in mind).
Citing that the terms of the agreement between Howard Stern and Sirius Satellite Radio are inherently private, and that disclosure could be “detrimental to the parties’ respective interests or business”, the motion has been made to seal such documents. The King of all Media was the main benefactor in a 2004 mega-deal worth over $500 million. While not all of that money went to him (it also pays for all talent and shows on the Howard 100/101 channels), he certainly got the lions share.
Essentially the matters that the parties want to seal are those relating to financial terms of the contract. What this means is that we will now get redacted versions of all of these matters in future filings. Even Howard 100 News will not have access.
Position – Long Sirius XM Radio
somebody trying to save face
And down goes the stock price?
Oh boy and on top of this here comes the Pandora IPO.
Howard is still trying to look like a regular guy by not showing how much he is paid for how little he works. The amount he is paid is insane but hey Sirius paid it so more power to him for cashing in.
It is not insane, it is right inline with other broadcasters of his caliber. You may say, well… they are all overpaid. But, are they if their employers profits are in the Billions? This is like professional sports, people always talk about overpaid athletes but NEVER talk about how much money the people who sign those checks are making. Fair is fair. A-Rod isn’t rich, the guy who signs his paycheck is RICH.
I was really making a comment on how Howard loves to discuss his guests income but dislikes his own income being discussed. If the market bears paying him in my words “insane” money then by all means cash in like we all would do.
Fair enough. I wasn’t trying to attack you at all, I just felt like it was a good opportunity to make a point. People love to question and attack high paid talent but, the reality is, the people writing those checks are often happy to do so… and for good reason.
Howard can’t hide that he has 14 chimneys and a bowling alley in his manson which he heliocopters to.
And why should he hide that? To his credit he also doesn’t brag about it. Does Miley Cyrus or Justin Beiber deserve it more for their 15 minutes of work? He has worked MANY years to get where he is and has earned for others many times over what he has been paid. He’s almost 60. I would hope he would have achieved some level of comfort after almost 40 years in an industry, of which he is a leader.
Don’t be a hater. Don’t envy others. It just diminishes you. Use that energy to build something for yourself so when your 57, someone will look at what you have accomplished and be inspired!!
Maybe they could have dickered more and gotten him for only $450 million but if Sirius was willing to pay that much, he’d be a fool not to take it. He’s paid a lot but it’s not insane. Without Howard, Sirius would have disappeared years ago.
Sirius would have done better buying Pandora early on, instead of signing Howard Stern. “He pay’s for talent on his two channels”. Talent? LOL. Bet that costs him a bundle. He barely shows up for his own THREE DAY’S A WEEK SHOW. Then he has the gratitude to turn around and sue Sirius-XM with some bogus lawsuit with all the money they doled out to him.
buy Pandora with what??
buy a company that has never made a penny and likey never will ? Would you like the stock to keep going up or go to zero ?
I’m sorry, but I think Pandora will be successful both with advertisers and music lovers. It may hurt Sirius-Xm unless this 2.0 we’ve been hearing hyped about for ages is better. I also think in the early day’s Pandora could have been bought for a song, and certainly less then Stern’s bloated payout.
Not only is Howard paid that outrageous salary, he actually has the nerve to complain when someone approaches him after the show because he is so “tired” from all of his “hard work.” What an arrogant selfish jerk!
both parties signed and agreed to it and yes “AGREED” greed is in that word and I think the company sould pay up with interest with it! I like several million listeners wouldnt have purchased a sat radio and I can get rid of it as fast as I bought it
Stern has made fun of others, burned all bridges and will go to his grave kicking and screaming about the television career that he will never have. He has turned into a bitter old man. Listening to him now is painful. The worn out bits, and a wrap up show that extends the boredom. HE IS IMUS. It takes a real genius to sue the company you work for. The industry will not forget or forgive this behavior. Reap what you sow. Of course in his mind, he is the victim.