Reactions To Rush's Contract
July 10, 2008 at 5:15 AM (PT)
RUSH LIMBAUGH's reported mammoth, eight-year, $38 million-per contract with CLEAR CHANNEL has quickly sparked two very different reactions, writes CONDE NAST PORTFOLIO.COM. It's given hope to a bloodied radio industry and simultaneously angered legions of talk-show hosts who aren't making enough to buy entire emerging-market nations.
But news of the contract "is a great affirmation by PREMIERE RADIO NETWORKS and by the advertisers that there's great reach still in radio," argues RAB CEO JEFF HALEY.
HALEY says that podcasts and streaming Internet broadcasts will likely be incorporated into LIMBAUGH's new contract.
Still, if the contract numbers are real, they may be justified. In radio, "there's a powerful personal connection that happens. That's what drives RUSH's reach and the valuation of his programming," says HALEY. "The new contract will absolutely pay off."