The King of All Media, Howard Stern, is abdicating and counting down the days until he can retire from SiriusXM satellite radio.
Stern took a big pay cut last year when he reduced his workload to just three live shows a week, and his shows, which used to run about five hours, were cut down to about three hours. “That’s why he took the job as a judge on ‘America’s Got Talent,’ ” said one source.
“During the month of July, Stern was live on the satellite for just nine hours total,” the insider said. “He’s fed up with Sirius, and has already decided he'll be gone at the end of his contract.”
Stern has been suing SiriusXM over bonuses he claims he is due because of the increased number of subscribers in the merger of the two satellite radio providers. And Stern’s longtime friend, Mel Karmazin, is being pushed out as the SiriusXM CEO with the takeover of the company by Liberty Media's John Malone.
“He’s 58. He’s got more money than he’ll ever be able to spend,” said our source. “He doesn’t need radio.” With his image revamped, courtesy of “AGT,” expect Stern to launch his own TV show.