Hannity Deal With Premiere, ABC Official
July 21, 2008 at 6:04 AM (PT)
SEAN HANNITY's new deal with PREMIERE RADIO NETWORKS and ABC RADIO NETWORKS has finally been officially announced. The deal, which was tipped on ALL ACCESS several weeks ago (NET NEWS 6/10), will be effective DECEMBER 28th and will split syndication duties, with ABC continuing to handle the show for CITADEL stations while PREMIERE handles CLEAR CHANNEL and other stations and assumes advertising sales responsibilities. The WALL STREET JOURNAL cites a source close to the deal as estimating the value at about $100 million over five years plus profit participation.
It's an unusual deal, but it's a deal for the times.
In a press release, HANNITY said, "I have a passion and a love for radio and I deeply want to thank all of my listeners and my radio partners around the country. From the very first day, 21 years ago when that red 'on-air' light went on, I have always felt I was one of the luckiest people on earth. If anybody told me back in 1987 when I began my radio journey, that I would be in this historic partnership with the two best syndication companies in radio, I would never have believed them. This deal for me is truly a dream come true, and for that I am extremely grateful to all who have made this possible."
"We’re extremely privileged to be working with SEAN HANNITY during the next phase of his remarkable career," added CLEAR CHANNEL RADIO President and CEO JOHN HOGAN. "It’s a testament to both his talent and his professionalism. SEAN's unique blend of energy, charisma and intelligence makes him both a tremendous broadcaster and a great asset to radio."
"It's an unusual deal, but it's a deal for the times," CITADEL Chairman/CEO FARID SULEMAN told the WALL STREET JOURNAL's SARAH MCBRIDE. "It hopefully sets the stage for more deals like that, sharing with another party to try to limit the risks." In the press release, SULEMAN said, "We are delighted to continue our long-standing relationship with SEAN. His show first aired on WABC, which has served as his flagship since SEPTEMBER 10th, 2001. This new partnership is groundbreaking in the syndicated programming arena. SEAN is a special talent and both companies as well as our listeners will benefit from this alliance."
PREMIERE President CHARLIE RAHILLY added that the deal offers opportunities for live spot revenue, which "has an intimacy, has a connection, has a depth of shared experience" that fetches a premium from advertisers.