So says Forbes in their The Best-Paid Talking Heads feature. The $302 million payout for Stern of course includes stock, bonuses, and salary all lumped together in a big ball of cash.
That total figure beats out Oprah Winfrey's meager $225 million over the course of last year, which includes the money she made from her XM deal in 2006. Further down the totem poll is David Letterman, raking in $40 million, who still earns more than rival Jay Leno. Sadly, neither Letterman or Leno have anything to do with satellite radio.
24/7 Wall St. is quick to suggest that Stern's pay may not be worthwhile since Sirius earned $167 million in revenue last quarter, has an operating loss of $154 million and is still walking around with over $1 billion in debt. (Something tells me that 24/7 isn't very bullish on SIRI.)
There's no question in my mind that 2006 was a rocking year for Sirius, and Stern obviously deserves his due credit for contributing significantly to this feat. I'm just curious about the year ahead (and an earnings call might help).
Oprah Winfrey negro women from the south
Could have some sick vacations with that kind of money.
Im sure he knows this :p
So, does anyone agree with me that Sirius needs to start to try to save some cash now? Unless Sirius can bring in some serious sub numbers (think at least two or three times as many net subs per quarter) they should consider a way to increase revenue and/or reduce costs. The non-stop orgy of spending must end. I think the first step in this direction will be a price increase, look for it within a few months. Don't complain about it either if you have been all happy about Sirius getting high ticket items like NASCAR. Depending on the nature of the increase I may cut my Sirius sub in protest of the poor management.
According to SIRI, the second stock payment (82M) was accrued in their '06 financials. If they were being truthful (which is as yet unknown), the number is worse:
$80M in cash
$210M in the Jan 9'06 stock payment
$82M in stock in Jan'07 but accrued in '06
This looks more like $372M. Not a bad years work.
History guy........?
You may " cut" your subscription to Sirius based on poor management but you keep it because? The 43 cents a day for the "Best Radio on Radio" is comparable with your morals and judgement of management in a company you have no idea about? Cancel it.... We dont need you
Let us know how your Free FM stations are doing...
i will belive this story when
little people fly in baloons
Ignorant NDKFTDIX, I have both Sirius and XM so I would still not be listening to Free FM if I cancel Sirius. I, unlike your ad lingo spewing self, am not dedicated to one company. I would like to see both companies succeed and become stable profit generating independent entities. I do not want to pay for an increase in my sub costs to cover ludicrous and endless spending to "get XM". Also, please do not speak for Sirius or all other Sirius subscribers by using "we"; there is no "we" it is only you. If you understood the financial situation of the company that you claim I "know nothing about", you would know that Sirius as a company desperately needs you, me, and all the other Sirius subs. If you cannot take honest constructive criticism of a company then I suggest you seek therapy.
(Don't worry if you do not understand some of the bigger words; You could always look them up in the dictionary.)
Sternfan,
You'll believe this story when little people fly in balloons? First people of all sizes have been flying in balloons for centuries. Second, it's not a story, it's a fact. Third Balloons has 2 "l's".
History guy....?
Your panty waist bs about cancelling your sub in Sirius or maintaining both XM and Sirius currently has no relevance to the reason you may now choose 1 vs the other. With out going deeper into your comments the one you made earlier is something that wont even make the lowest question on a poll should you be deamed viable. You stated you will cancel because of the prior managements (CEO) deal concerning Sterns contract and I say that is a pathetic reason at best! Now,selling any shares of Siri or Xm you may hold on the basis of bad management I'd have never commented. No need to go any further with this!
$302M/
($12.95 x 12 months)
= 1,943,371
It takes almost 2 million of the 6 million subscribers just to pay for him. That's a lot of their total revenue to pay for two channels that play tapes from the 1980s.
please don't sell your shares, you need to buy and sell at $4, then it will tank as usual to the mid 3's in which you need to buy agian. fuck stern's salary. i'm a stern fan and this asshole is sucking sirius for all its worth. i know that it takes two to get a deal, so sirius better get their shit together. i realize how much stern has brought to sirius. i hope and they better hope they keep growing and they better keep their customers they have by keeping the price the same.
I KNOW IM GONNA CATCH SHIT FOR THIS, BUT OH WELL...EVER THINK THAT HE'S NOT GETTING ANYWHERE NEAR ALL THESE SUMS OF MONEY THAT ARE BEING THROWN AROUND? AND THAT ALL OF THIS 'NEWS' AND THESE 'FACTS' THAT ARE OUT THERE, ARE MERELY FOR MORE PEOPLE TO SIGN UP TO FIND OUT WHAT ALL THE TALK IS ABOUT? ANYONE WHO KNOWS THE STERN SHOW MIGHT GET THIS...ITS ALL SPECULATION AND INFLATING THINGS TO BE MORE THAN THEY ARE...WHICH IS TYPICAL STERN SHOW STYLE(ITS A GOSSIP SHOW). NOW I DONT KEEP TRACK OF ALL THE SUPPOSED 'REAL' FINANCIALS OF IT, SO THIS IS MERELY MY THEORY AND OPINION, BUT I HAVE SEEN A FEW THINGS HERE AND THERE. SO...ANYONE GONNA COMMENT? IM CURIOUS WHATS GONNA BE SAID ABOUT HOW 'IGNORANT' I AM ...HEHE. NOT THAT I GIVE A SHIT IN THE LEAST.
Sean, you are correct. Bridge and others estimate that HS MAY have brought in 2.0 million so I'm very soured on the Sirius logic, and Howard at the moment. It appears that he is not paying his way at all.
Better yet, ( or worse yet ) Howard is 53. What happens to Sirius in 2010 or sooner ( God forbid ) if Howard leaves SIRI or exits the world as Anna Smith just did in such an untimely fashion ? Isn't Sirius's name, face and reputation tied to Howard ?
Sirius would drop like a rock.
Here's what I think.
Howard gets the money when they ( subs ) come, and KEEPS the money when they ( subs ) go out....and Mel too is long gone. Stern was nothing more than a high priced bargaining chip for Mel to execute his merger-buyout hand.
Good for you Howard, but I think less of you for hosing us...even though Mel turned on the sprinkler.
i belive theres a story i just dont belive whats in the story.he also has the on demand channel which he
has to make some money on.the 100 million each year also goes into the production of the radio show.
Let us not forget that there is advertising revenue on his show. It is not only the subscribers that pay his way. He has done more for this company than anything else. Look at the way things have turned. Sirius is now the number one selling satrad product in retail. Sirius is on par to beat XM by the middle of next year in sub numbers. All the Sirius haters have said everything Sirius has done has been bad, thing is everything they have done has been to take out the competition, and it is working.
I say pay the man, I don't listen to him, or even like him, but he is definately worth the cost.
One thing to remember is that all of these (massive) payouts are built into Stern's contract which was signed when Sirius was significantly more desperate. Just because they're fulfilling their contractual obligations doesn't mean that management is happy about it. It'll be interesting to see if the bonuses continue into the rest of his contract.
LOL History guy rocks. Sirius is doomed.
Lord Westfall
>One thing to remember is that all of these (massive) payouts are built into Stern's contract
And also don't forget that Stern's contract was signed by previous management. Mel signed after Howard did. I am sure that they aren't happy with the terms that Howard got, but they do have to pay him.
Wow FaFaFluFly, you've changed your tune. I'm not a Stern (or O&A) fan, but I agree. Stern is sucking the money out of Sirius. Even though only his second payment (the 83 million) was a bonus, it is still a lot of stock and cash to pay one man.
jkdilliard1 wrote:
"Let us not forget that there is advertising revenue on his show. It is not only the subscribers that pay his way. He has done more for this company than anything else. Look at the way things have turned. Sirius is now the number one selling satrad product in retail. Sirius is on par to beat XM by the middle of next year in sub numbers. All the Sirius haters have said everything Sirius has done has been bad, thing is everything they have done has been to take out the competition, and it is working.
I say pay the man, I don't listen to him, or even like him, but he is definately worth the cost."
------------
I don't agree. Understand that the Stern deal was done before Mel came aboard, so Mel IS doing the best he can with the pile of crap Clayton left him. However, the advertising revenue Mel had hoped will NEVER come into fruition. Even at 10 million subscribers, the sheer number of liseteners on Stern's channel won't even compare to 1/10th of what he had on terrestrial. Stern is currently receiveing 1/30th of the payment per read he was getting at terrestrial and it is highly unlikely it will climb much higher in the next two years. By then, his contract is done and he will probably take his money and run. I say damn him to hell for what he has done. Yes, he put Sirius on the map, but it COST the company DEARLY.
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