Howard Stern reports recommendations exclusive Music Howard Stern

SiriusXM Stock Rises on Report of Howard Stern Nearing Renewal

Reading now: 264
hollywoodreporter.com

The stock of satellite radio company SiriusXM rose in early Wednesday trading as Wall Street digested a report that the company was close to sealing a big new deal with Howard Stern.

As of 9:32 a.m. ET, the stock was up 5 percent at $5.84. Bloomberg News late on Tuesday reported that the deal for "The King of All Media" could be worth around $120 million per year, compared with Stern's current five-year contract of $80 million-$100 million a year.

That drove the firm's stock higher in after-hours. But Stern, whose SiriusXM contract expires at the end of the year, on Wednesday morning said the two parties weren't "anywhere near a deal," which may explain the smaller uptick in Wednesday trading.

Read more on hollywoodreporter.com
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA