Posted by chicagomedia.org on July 02, 2008 at 13:58:11:
LIMBAUGH SIGNS THROUGH 2016; $400 MILLION DEAL SHATTERS BROADCAST RECORDS
The American broadcast industry is rocked, realigned and blasted into a new orbit, yet again, by Rush Limbaugh, the DRUDGE REPORT has learned.
In what is being described as an unprecedented radio contract, Limbaugh will keep his syndicated show on-the-air and e-v-e-r-y-w-h-e-r-e through 2016 with CLEAR CHANNEL and PREMIERE RADIO.
Already host of the most lucrative hours since radio's inception, Limbaugh's total package is valued north of $400 million, according to media insiders.
The NEW YORK TIMES will claim this weekend that Limbaugh, marking 20 years this summer as a national host, has secured a 9-figure signing bonus for the new deal, newsroom sources tell DRUDGE.
In its controversial profile, the TIMES reports that Limbaugh is buying a new G550 jet and is making an estimated $38 million a year.
While newspapers and traditional broadcast media are experiencing declining revenues, Limbaugh's golden microphone has turned diamond-laced:
Earnings now pace him ahead of the annual salaries for network news anchors: Katie Couric, Brian Williams, Charlie Gibson and Diane Sawyer — combined!
The deal represents a stunning triumph over the establishment by an outsider who connected with and captured the spirit of the nation's heartland.
(Drudge)