Sirius Radio Contract

Sirius Radio or Sirius XM Radio, as it is called today has Mel Karmazin as its Chief Executive Officer. The Sirius Radio Contract with Mel Karmazin was expiring, but he has signed a new contract, which will extend his term through and until 31st December 2012. This new Sirius Radio Contract will increase his salary to $1,500,000 per year from the $1,250,000 that he is getting now. This new salary will be from 1st January 2010. He also has an option to purchase 120,000,000 shares of Sirius XM Radio common stock, for a price of $0.43. Before this contract, there were many critics of Mel Karmazin, who felt that he should be removed from the helm of the company. This new contract has elated many supporters of the CEO, as they feel that he is the main reason for satellite radio still existing in United States.

Sirius Radio has spent millions on various contracts and the main expensive one, is with Howard Stern. Sirius Radio Contract with Howard Stern is for five years, and the company pays $100 million per year, to Stern for his two channels, Howard 100 and Howard 101. Howard Stern is a controversial figure in the radio industry, as he uses strong language in expressing his opinions. He was dissatisfied in his earlier work as he was constantly censored on a terrestrial radio FM station. On Sirius, his channels are uncensored and have become very popular with the American and Canadian public. According to the Sirius Radio Contract, Howard Stern has full programming rights for the two channels and has also been allocated a third channel if he wishes to extend his programming. These two channels are also available on Sirius Internet Radio, and people can access them on the internet, with their regular subscription. To the dismay of many of Stern's fans, he is not featuring on the new application of Sirius on the iPhone. Stern blames this situation on the original Sirius Radio Contract which has certain “rights issue”. Many people were looking forward to this application, and were disappointed that Stern was not on it.

On the sports front, Sirius Radio Contract was with NASCAR. The deal includes five-year programming and marketing, which started in 2007. This contract cost Sirius $107.5 million in fight fees, and the biggest portion is to be paid later in the contract. Sirius now has a 24-hour exclusive NASCAR channel.

In 2005, Sirius Radio Contract was with the famous Martha Stewart, to produce Martha Stewart Living Radio channel. This was an exclusive contract for 4 years, costing Sirius $30 million. This 24/7 channel is devoted solely for women and features topics like cooking, gardening, home-keeping, decorating, entertaining, collecting, health, weddings, crafts and holidays.

Sirius has also signed various other contracts with many famous personalities to make their content popular and exclusive. Steven Van Zandt also known as Little Steven, was the first major musician, to create branded music channels for Sirius like Underground Garage and Outlaw Country.