Howard Stern and his band of gleeful misfits were back live on the air Monday morning after another long and torturous week for fans stuck in humorless traffic. The King of All Media wasted on Mondayâ€™s broadcast to respond to mudslinging he received from the mainstream media during his on-air absence.
Reuters reported last week that Sirius XM posted a quarterly net loss of about 1% last quarter, but also reported that the loss of subscribers for the quarter was lower than expected.
Instead of attributing the decrease in subscribers and revenue to the recession and huge drop in auto sales (which is where most satellite radio subscriptions are sold), CNBCâ€™s Dennis Kneale blamed Howard Sternâ€™s high price tag for Sirius XMâ€™s financial woes.
After complimenting Sirius XM executive Mel Karmazin as a â€œgreat salesman,â€ Dennis Kneale went on to say: â€œâ€¦in the end, does it turn out they just overpaid for Howard Stern and they have too much debt? I wonder if John Malone bailed them out temporarily hoping that they kind of go belly-up so they can get a hold of those assets really cheap.”
If thereâ€™s anyone whoâ€™s used to getting no respect from the mainstream media, itâ€™s Howard Stern. Still, the King of All Media took offense to Knealeâ€™s characterization of him as a drain on Sirius XMâ€™s resources. On Monday morningâ€™s broadcast of The Howard Stern Show, Stern offered an alternate perspective on Sirius XMâ€™s financial situation.
Howard Stern claims that it was the millions of subscribers that he and his team of grown-up juvenile delinquents brought to Sirius that brought XM satellite radio â€œto its kneesâ€ and forced the merger between the two satellite giants. Howard Stern also pointed out that during conference calls with Mel Karmazin, Karmazin always emphasizes that the only program on Sirius XM radio thatâ€™s paying for itself is The Howard Stern Show.
Despite the fact that Howard Stern has grown a pretty thick shell after three decades of abuse from the mainstream media, he still threw a minor hissy fit in response to Dennis Knealeâ€™s accusation:
â€œWhy does everyone HATE me?â€ barked Stern in frustration on Monday morningâ€™s broadcast. Howard Stern and his sidekicks discussed the other significant costs on Sirius XMâ€™s balance sheet. Sirius XM has had to pay major fees for Major League Baseball and other big name talent like Oprah Winfrey and Martha Stewart. Howard Stern pointed out that these other high cost channels arenâ€™t bringing in anywhere near the level of revenue associated with The Howard Stern Show.