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Hey, sometimes in these modern times it pays to bash a company executive --- complete with expletives --- on radio when a contract is up for renewal, observes GrumpyEditor.com.
For Howard Stern, a “colorful” on-air rant on Tuesday led to a new five-year agreement yesterday with Sirius XM radio.
So those seeking renewal of agreements with their companies should take note.
Stern on Tuesday slammed David Frear, Sirius XM chief financial officer, after the CFO indicated the shock jock would have to take a pay cut to stay on the air, reported Dylan Stableford on TheWrap.
With Stern nearing the end of a five-year, $400 million contract, Stableford wrote that Frear, at an investor conference in New York on Monday, mentioned the satellite radio personality would have to agree to return at “significantly less money.”
That triggered Stern the next day to bellow on air: “I am not taking a f---ing pay cut,” relayed Stableford. “Why would I have to take a pay cut?...Who is this guy to say this in public?”
Then Stern pushed on with, “I know what I have done for this company. I am more important than Oprah, in this company, anyway.”
Then the dust settled.
In announcing a fresh five-year agreement (with terms not disclosed) yesterday, Mel Karmazin, Sirius XM’s chief executive officer, said, “Howard is a great talent and we are thrilled that he will continue to provoke, engage and entertain on Sirius XM.”
The new contract, running through Dec. 31, 2015, gives Sirius XM the added right to transmit Stern’s programming to mobile devices.
