Howard Stern’s New Contract Pushes Sirius Stock Higher

Howard Stern signed a new 5-year deal with Sirius XM, pushing the company’s stock up more than 5 percent on Wednesday.

Howard Stern signed a new 5-year deal with Sirius XM, pushing the company's stock up more than 5 percent on Wednesday. Neilson Barnard/Getty Images

Howard Stern, the self proclaimed “King of All Media,” inked another 5-year deal with Sirius XM, according to a press release.

Under the deal, Stern, 56, will be on Sirius until Dec. 31, 2015 and the agreement comes about a week after Dr. Laura Schlessinger signed with the company. Stern’s previous contract was worth around $500 million and expires at the end of this year.

Stern’s show will be now broadcast on mobile devices, Sirius said.

“I am especially excited that my show will now be heard through Sirius XM on mobile devices,” Stern said in a statement. “Access to my show on mobile devices will open up additional opportunities for my fans to hear me wherever they are.”

According to Reuters, Stern’s deal pushed shares of Sirius up more than 6 percent. As of 1:20 EST, Sirius XM Radio Inc. (SIRI) had gained 7 cents to 1.39 on NASDAQ.

“On my first day in satellite radio Sirius had approximately 600,000 subscribers. Today, the two companies have 20 million, and, in my view, we have just scratched the surface of how many people will get on board,” Stern added.

Other terms, like how much he was paid in the new contract, were not disclosed.