Stern, who often invites a mix of adult and mainstream actors to his salacious show, said that he wants to be free of government regulation and allowed to "bring my fans my show my way.''
The 5-year deal with Sirius is huge, but would catapult Stern way beyond his current reach (he would be able to reach every market in the country).
The national distributor of commercial-free music and sports programming said it would spend $100 million a year to produce the show, including Stern's salary.
Sirius revealed in a Securities and Exchange Commission filing Wednesday that it would share a portion of advertising revenue with Stern once subscriber numbers are reached.
“We estimate that we will recoup our fixed obligations under the agreement when we acquire approximately 1 million incremental subscribers,” Sirius said in an 8-K filing to the SEC.
If the New York-based broadcaster doesn't reach its milestone, the deal could have a "material negative impact" on the company's financial condition.
Sirius had 480,341 subscribers as of June 30, an increase of 37 percent from first-quarter levels. It also delivers about 120 channels of broadcasting to 9 million satellite TV subscribers through the Dish Network. Infinity, in comparison, has about 185 stations in 40 U.S. markets.
Sirius has other plans for Stern, as well. In the SEC filing, the company stated that it expects Stern to develop and produce one or more additional channels of programming during the term of the agreement.
"Sirius — the future of radio — will take this dream to a whole new level as I bring my fans my show my way,” Stern said in a statement. “It will be the best radio they will ever hear."
Stern often brings porn stars to his shows. On Tuesday, Stern cajoled on the air with Peruvian talent Alexis Amore, bragging he would ejaculate after two seconds with the star.
“I don't see how those [male porn stars] hold out," Stern said on-air. “Those are a bunch of homos. They're on homo pills or something.”
