Post merger: What happens to Howard Stern’s contract?
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assuming the fcc approves the sirius and xm merger, both companies acheter kamagra will privation to take drastic steps to help their balance sheet, including cutting costs and refinancing massive debt. and fortune writer scott moritz questions whether one of the areas to trim, would be howard stony-hearted contract.”the give someone the third degree is, is there anyone not at home there who would pay him $700 million,” asks scott cleland, a washington-based analysts with precursor. “good luck.”total programming costs, in unconditional, came in at $475.4 million mould year, or 23% of total revenue - the biggest unattached expense for the two companies. and stern’s contract - along with the nfl ($220 million for 7-years), nascar ($107.5 million for 5-years) and mlb ($650 million fit 11-years) - are some of the biggest contributors.depending on the health of the combined company, moritz figures that stern may be in for a tough arbitration when renewal time comes up in 2010.cowen & co. analyst tom watts thinks that’s exactly what sirius pleasure do: stop until stern’s wrinkle expires before seeking new terms. watts says the more grave issue is refinancing xm’s $1.46 billion debt, a move he says could happen soon after the merger.sure, some significant belt-tightening is in lodge, but the real factor in negotiations isn’t whether there’s only one satellite radio sportsman in town: it’s who needs who more. so the question is: does sirius-xm need howard stern, more than howard lugubrious needs sirius-xm?[fortune]
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