In a news conference on his radio show this morning, Howard Stern announced that he has signed a five-year contract to remain with Infinity Broadcasting and its parent corporation,Viacom.
In a jovial and sometimes vulgarity-filled announcement with Viacom president and COO Mel Karmazin, the self-described “King of All Media” said that he only signed the deal to stay with Infinity just before 5 p.m. yesterday. Karmazin and Stern both insisted that the tense, last minute negotiations were not a publicity stunt.
Stern and Karmazin would not disclose financial details of the contract, although CNBC reports that Stern will be paid $18 million a year over the term of contract.
Stern said that the contract would allow him to enter into diverse forms of media, outside of his current television and radio commitments. He said that he would disclose these plans to his listeners within the next few months.
Play The Mike Walker Game (as heard on the Howard Stern Show) and win $500!
