Viacom Inc.’s Infinity radio unit expects ribald talk show host Howard Stern to remain with the company through the end of next year when his contract expires, a senior executive said Tuesday.
Stern said in October he would jump to Sirius Satellite Radio Inc. in January 2006.
“We are counting on Howard (Stern) being on the air, but we are feverishly looking for someone to replace him,” Infinity president and chief operating officer Joel Hollander said at the UBS Media Week conference.
Hollander’s comments come amid speculation Stern may jump to Sirius before his Infinity contract is up, perhaps with Sirius buying Infinity out of the remainder of the contract.
Stern has pleaded to be let of his contract early, and has expressed frustration both with Infinity and with particular stations that censor his references to satellite radio.
“We are going to spend a lot of money on talent,” Hollander said regarding Stern’s replacement. “We are going to do something big at the right time.”
Asked by a conference attendee if Infinity would entertain offers to permit Stern’s release, Hollander quipped: “If you were to give me a check for $100 million, I’ll let him go tomorrow.”
In October Sirius signed Stern, perhaps the most popular and bankable personality in radio, to a $500 million deal over five years.
“We are going to deal with it (the status of Stern’s contract) but only when we are ready to deal with it,” Hollander added.
A Sirius spokesman said the company had no comment on whether the two companies were in talks.
Sirius chairman Joseph Clayton Monday told another investor conference in New York that Sirius would be open to the possibility of Stern going there sooner if a deal could be arranged that was beneficial to all parties.