SiriusXM CEO Jim Meyer said he’s “optimistic” about striking a new deal with the company’s star property Howard Stern, whose contract expires at year end. The renewal has been a focus of Wall Street and the press for months as the deadline approaches.
“I am personally deeply engaged in conversations with Howard’s team. I am very optimistic about those conversations. We continue to make progress,” Meyer said during a Q&A at the BofA Securities 2020 Media, Communications & Entertainment Conference, held virtually.
“We have had Howard for 15 years and I am sure that every penny we paid Howard our shareholders have benefited. And I have been really clear, I want Howard Stern to work at SiriusXM as long as Howard Stern wants to work,” said Meyer.
“I can’t speak for him but I can speak for me. Howard loves working at SiriusXM. We love having Howard at SiriusXM. I think the quality of the show is the best it’s ever been. The lineup of the guests he’s getting is the best it’s ever been. I don’t see why that would slow down.”
Earlier in the day, the company, which owns Pandora and more recently acquired podcast group Stitcher, hit a positive note, boosting its full-year 2020 guidance for SiriusXM self-pay subscriber net additions to about 700,000 — up from the 500,000 previously anticipated.
Shares were up 1.3%.