Bloomberg is reporting that all Howard Stern needs to do is show up to work on Monday, and he’ll receive $219 million in stock.
That may sound like a lot, but actually, after taxes, that’s only $130 million. Heh. Heh. [Here, Claude bursts into tears.]
This is the inversion of “Field of Dreams” model: If you come, we will build it.
Still, as Craig Moffett, an analyst at Sanford C. Bernstein, puts it, “Howard Stern is a business. Sirius is paying, in essence, a license fee for what is a large and successful business.”
It is, essentially, also one hell of a gamble, not on Stern’s talent, but on Stern’s cholesterol and blood pressure and so forth: As recent events show, pinning the future entirely on one man is fraught, to say the least.