• Reuters, Tuesday, December 1, 2009 10:18 PM

Five years ago, Sirius lured shock jock Howard Stern to satellite radio with an astounding $500 million contract. The contract is up and Sirius XM CEO Mel Karmazin, facing financial challenges, has to decide if the self-proclaimed King of All Media is worth the money.

Stern is one of the biggest draws of Sirius XM's satellite radio service, which counts 18.5 million subscribers. His decision to exit FM radio for Sirius in 2004 is credited with establishing satellite radio as an established form of media. But some analysts claim high-priced contracts like Stern's contributed to financial woes that pushed Sirius to the brink of bankruptcy earlier this year. The only big shot Karmazin has to face at the bargaining table in 2011: Oprah Winfrey.

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