Karmazin met with Stern to extend his term

According to this Reuter's article, SIRIUS CEO Mel Karmazin said, at the Sports Business Journal's annual World Congress of Sports event, that he met with Howard Stern on Monday to try to get him to extend his term with similar pay structure.

Howard wasn't interested.

"He'll take his chances when the contract is up," said Mel Karmazin.

The only reason why I could see Howard turning down an extension of the contract would be either:

1. He's considering retirement.
2. He's waiting to see how much advertising revenue he can bring in within the 5 years.

I can't really blame him if you think about it. At the current rate of growth, why would lock in the current salary when it could be much bigger in 5 years?

Thanks Cranky Media Guy! 

[Reuters]