SiriusXM, Howard Stern sign five-year contract extension

NEW YORK — Howard Stern has reached a five-year deal with SiriusXM to continue making his show for the satellite radio company through the end of 2025.

Terms were not disclosed. Forbes magazine has reported that Stern was already making $90 million a year.

“Now that I can work from home, I simply don't have an excuse to quit,” Stern said in announcing the deal on his show Tuesday.

Sirius had 600,000 subscribers when Stern announced in 2004 he was leaving over-the-air radio to join the company, and he started in 2006. The company has nearly 35 million subscribers now, and Stern is clearly the marquee talent.

The deal also gives SiriusXM exclusive rights to Stern's audio and video library through 2032. Stern has two separate channels on SiriusXM, and his empire has expanded to include video content. Once best known as a shock jock, Stern has developed into one of the sharpest interviewers in the business.

Stern is 66; nothing was said about the deal possibly being his last with the company.

On his show Tuesday, Stern talked about how going to satellite radio liberated him from his “toxic relationship” with more traditional radio companies.

“Despite the naysayers and the ridicule, we have persevered, and are thriving,” he said.

“I've been proven right about satellite radio over and over again. With this contract renewal, I can't wait to see what else I'll be right about.”