Howard Stern and SiriusXM Announce Blockbuster Five-Year Extension

Howard Stern and SiriusXM announced a blockbuster extension that will keep the King of All Media exclusive to the satellite radio giant for five years. Stern's free agency generated a lot of buzz in the industry, and there were reports that this extension, once signed, could be worth up to $120 million per year.

Another interesting wrinkle in the deal, per The Hollywood Reporter, is that SiriusXM retains the rights to Stern's archives for seven additional years. A lot of this content, such as his trademark long-form interviews with mega celebrities who do not otherwise open up, is evergreen.

The digital audio wars are heating up, and this news is big as SiriusXM continues its battle against Spotify -- which has been gobbling up exclusive talent including Joe Rogan, Michelle Obama, and Bill Simmons -- as well as Amazon, which has just acquired the podcast company Wondery, and potentially Apple.

Stern is 66 years old, so there's a chance this could be his final contract. This news sure seems like a win for both sides.

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Ryan Glasspiegel grew up in Connecticut, graduated from University of Wisconsin-Madison, and lives in Chicago. Before OutKick, he wrote for Sports Illustrated and The Big Lead. He enjoys expensive bourbon and cheap beer.