Rush Limbaugh Signs $400 Million Contract
Rush Limbaugh isn’t going to have any trouble affording good cigars, having just re-upped with Clear Channel through 2016 for $400 million, including a $100 million signing bonus. And you thought pro athetes got paid a lot.
Said to be Limbaugh’s most lucrative deal ever by far, the new agreement runs through 2016 and includes a previously unheard-of nine figure signing bonus. For those of you in Rio Linda, that means more than $100 million, upfront.
Beyond infuriating the left, that staggering sum is sure to reinforce the widespread industry belief that talk represents one of broadcast radio’s only remaining bright spots. While several other major outfits are struggling to survive, Limbaugh and Premiere have provided a steady revenue stream for Clear Channel.
In fact, while advertisers have begun to abandon music radio for the Internet and other media, Limbaugh has recently added sponsors.
Clearly, I’m in the wrong business. Then again, if I could captivate 20 million listeners three hours a day for a couple decades, I’m sure I’d make more, too.
UPDATE: The Chavets piece: “Late-Period Limbaugh.”