Subscriber Growth Nets Howard Stern $83 Million Bonus from Sirius

Authored by Mark Hefflinger on January 9, 2007 - 9:21am.

New York - Sirius Satellite Radio, a provider of digital radio programming with more than six million subscribers, has paid its on-air personality Howard Stern an $83 million stock bonus, which was tied to subscriber targets set when he signed a $500 million contract with the company in 2004.

New York-based Sirius said then that it would provide the shock jock a bonus if the company exceeded its 2006 subscriber target of 3.5 million by more than 2 million subscribers; the company said last week that it surpassed 6 million subscribers.

"The decision to bring Howard Stern to Sirius required a very significant commitment and we are very pleased that our investment has dramatically paid off," said Sirius CEO Mel Karmazin.