Howard Stern Pay Shows Satellite Radio Legit

“Last week, Sirius announced that it had granted Mr. Stern and his manager more than 34 million shares of common stock, currently worth about $225 million, because certain subscriber levels had been reached. That is on top of the $500 million that Sirius had already agreed to pay Mr. Stern for his salary and production costs. Whether or not Mr. Stern’s show, which begins at 6 a.m., is a success, his decision to jump from free broadcast to subscription radio has bestowed legitimacy to a medium that many had regarded with skepticism.”