Sirius Satellite Radio pays $83mn in stock bonus to Howard Stern

01/10/07 - newratings.com

NEW YORK, January 10 (newratings.com) – Sirius Satellite Radio Inc (SIRI) Tuesday paid radio host Howard Stern nearly $83 million in bonus for exceeding subscriber growth targets during his first year at the pay-radio network.

New York-based Sirius Satellite Radio has issued 22 million shares in bonus to Howard Stern, after the company exceeded the analyst subscriber estimate for last year by over 2 million subscribers. Howard Stern, who had joined the company in 2004 at a heady package of $500 million over five years, had risen to become one of radio's biggest stars at the FM dial, where he worked before 2004. Sirius Satellite Radio had roughly 600,000 subscribers when it signed Stern.