Rush signs eight year, $400 million deal

[Dr. Whiplash]

From the New York Times

Striking a deal estimated to be worth $400 million through 2016, the conservative talk radio host Rush Limbaugh has renewed his contract with Clear Channel Communications and its syndication subsidiary Premiere Radio Networks.

The contract renewal was announced Wednesday by the companies, and the financial details were provided by Mr. Limbaugh in an interview with The New York Times Magazine for an article to be published on Sunday. In the interview, Mr. Limbaugh said the new contract would pay him about $38 million a year for eight years. He also said he would receive a $100 million signing bonus.

“First and foremost I’m a businessman,” Mr. Limbaugh told writer Zev Chafets. "My first goal is to attract the largest possible audience so I can charge confiscatory ad rates. I happen to have great entertainment skills, but that enables me to sell airtime.”


Read the article at...
http://www.nytimes.com/2008/07/03/busin ... f=business

The 8000-word interview/cover story is already online...
http://www.nytimes.com/2008/07/06/magaz ... ugh-t.html

[Lester]

They must be anticipating a Democrat win for the White House.

[AmpedNow]

Still close to Stern money...

The question is: was he worth it? Or was CC desperate to not allow another heavyweight talent to bolt elsewhere? Not that satellite could presently afford him.

With the XM/Sirius merger now appearing imminent, 2010 will be a fun year to watch how those contract renegotiations go down...

[Bob Campbell]

That'll buy a lot of Vicodin.

[StopSet]

In addition to Rush’s raise, CC announced that all employees would be getting the new State mandated minimum wage.

[Kiddconley]

That'll buy a lot of Vicodin.

MMMMMM. Vicodin.