Howard Stern signs until 2015

[Hulk]

Probably 80 million a year, straight cash. He took a beating on the stock options as it was, so this is probably more like a wash for him, especially considring he will likely take more time off. It was definitely worth it for Sirius. People estimate that they would lose at least a million subscribers on the conservative side, and more likely 2-3 million by my guesstimate, considering people like myself would rather pay $5 or $10 a month for Howard on the internet and cancel Sirius, or at least cut back to basic subscriptions. That alone is worth the money they are paying, in my opinion. Considering if 2 million subscribers cut back to their basic plan (about $5 cheaper a month) or about $120 million a year, not factoring in the million lost subscribers, or the stigma of having to take a year, or 2, to regain what they lost, Sirius comes out ahead by keeping him. No one else has that kind of impact on their bottom line, not Oprah, the NFL or even MLB.

I suspect he will also be announcing some sort of Podcast or other distribution channel, although on a delayed basis, if not a TV deal, that will put even more money in his pockets during this deal.

If it's another 500 mil it's a mistake for Sirius. The first 500 mill contract was a good investment. They were behind xm and Howard brought in 6 million subscribers, but that was because he has a huge following and he paid for his contract the first year. But most people now realize how killer Sat radio is, that very few would leave if he left and he won't draw in 500 mill worth or anywhere close to that from here on out.