They don’t call him the King of all Media for nothing. As we noted here last week, shares of Sirius XM Radio (SIRI) have been on a tear lately with a gain of 9.35% so far this year.
While some of the gains can be attributed to the strong market, the main driver of the shares has been Howard Stern, who renewed his contract with the company on December 9th and announced that his radio show would finally be available on smartphones. Since then, shares of the company are up over 35%.
In terms of market cap, this translates into $1.8 billion dollars. While terms of the contract were undisclosed, so far Howard has been worth every penny of it