Howard Stern worth 1 million subscribers?

We’re talking about Howard Stern, and Sirius XM may or may not update Wall Street during its earnings call Thursday as to whether he’ll stick around and, if so, how much it will cost. Stern’s five-year contract expires at the end of the year. An analyst who upped his price target on Sirius on Wednesday said that, in a nutshell, it might not matter too much whether Stern stays or goes.

Matthew Harrigan at Wunderlich Securities’ figures that if Stern stays on at his current salary of $100 million annually, or if he leaves and takes 1 million subscribers with him, it’s a wash, financially speaking.

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