According to this super-long article in New York magazine (and I do mean that - it's a long one) Hugh Panero admitted that XM Satellite Radio was willing to pay $30 Million a year for Howard Stern's contract. Infinity even was willing to pay out $35 Million a year but Howard never gave them the chance (oh darn).
At the time of the signing of the deal, Howard was pulling in a "meager" $13 Million.
Have time to burn? Go read this thing here:
[New York Magazine]

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