Last week, Infinity, Stern's current broadcaster, took the curtain off a multilayered replacement strategy for the show, which aired in 37 markets. Its West Coast stations will air comedian Adam Carolla in Stern's current slot, and rocker David Lee Roth takes over in the East. Local-area personality Rover will air in the Midwest.
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Last year, Sirius was able to lure Howard Stern away from Infinity for $500 million for five years. Since then, the shock jock has been counting the days until his contract at Infinity runs out, while Infinity has been scrambling to find a way to retain an advertiser base that will be looking at other options.
One source familiar with the matter said that for broadcast radio, the magnitude of Stern's departure is "unprecedented" in the industry's history, and advertisers, feeling the pressure from clients to deliver measurable results, will be reluctant to buy into Infinity's new shows until they know more about how these shows play with consumers.
A Washington Post source took it one step further. "Stern's departure is the worst natural disaster to hit a media company in the decade," a station manager told the paper. He added that the Stern show was so valuable to sponsors that Infinity made them buy time through the rest of the day as part of buying spots on Stern's show.
Reuters reports that Sirius is already charging $20,000 for a live read by Stern, and that sales efforts are underway. Infinity charges advertisers the same price for seven million listeners per week.