Despite speculation that Howard Stern was leaving Sirius XM when his contract was up on December 31, his fans learned Thursday that he has re-signed for five more years.
He broke the news this morning during his daily radio show:
If we're going to stay in radio, we should stay here .... We're in an incredible position and suddenly there's real growth. It's a real business.
Many were surprised by the news especially after Stern had raged earlier this week against Sirius CFO David Frear, whose statements suggested that Stern would have to take a pay cut.
Financial details of the new contract have not been disclosed. However, Stern says the new deal gives him "more flexibility"; in addition, it clears him to play on not just satellite radio but also the mobile streaming apps (including Android and iPhone apps).
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