SiriusXM might be called “The House That Howard Built.” At the very least, King of All Media is responsible for the 2008 merger between Sirius and XM, once rivals in the nascent satellite radio space. Stern has commanded enormous sums from the broadcaster — and by all accounts he’s earned his keep. But the media landscape King Stern surveys is in disruptive flux — and new channels will compete for Stern’s talents (and audience) more viably than they could have when Stern re-signed with Sirius five years ago.
SiriusXM has said recently that it “hopes” to keep Stern in the fold. The question is how to put a value on Stern’s show for the next five years. That’s the only item the two sides haven’t reached common ground on yet, according to James Meyer, SiriusXM CEO. Speaking at Liberty Media’s investor day, Meyer said money is the “one thing” keeping Stern and Sirius apart so far. Of course, money can be a pretty big “one thing.” But Meyer has recently expressed great confidence in Sirius’s ability to get a Stern deal done, even going so far as to tell the curious to listen to Stern’s show for the news of his renewal. “I’m very hopeful,” Meyer reiterated to investors,” that we’ll get an agreement done with Howard.” Meyer, a Stern fan, said the Howard Stern Show “has never been better.”