Radio talk-show host Glenn Beck renewed his contract with Clear Channel Communications Inc. (CCMO:US) in a deal that doubles his pay to $100 million over five years, according to a person with knowledge of the situation.
Premiere Networks, the syndication unit of San Antonio- based Clear Channel that has carried Beck’s show for 10 years, announced the agreement today without specifying terms.
“Glenn has not only built an incredible connection to his audience on multiple platforms, but has also established himself as a true talent and visionary,” Julie Talbott, president of content and affiliate relations at Premiere Networks, said in the statement.
“The Glenn Beck Program” has seen ratings growth of almost 50 percent and almost doubled the number of stations carrying it to more than 400, Premiere and Mercury Radio Arts, Beck’s production company, said in the statement. The program is the third-highest rated in the U.S., behind hosts Rush Limbaugh and Sean Hannity, according to the person.
“Who says radio is dead? The industry can still pony up big money for proven ratings winners,” said Paul Sweeney, a media analyst at Bloomberg Industries.
The agreement allows Premiere to continue representing Beck in sales of advertising on websites such as GlennBeck.com, according to the release.
Beck, who lost his program on News Corp. (NWS:US)’s Fox News cable channel last year, also hosts a $9.95 per month, daily video program called GBTV that is streamed from his website.
“He’s looked at as being a major pioneer of future business models, while still doing well on the old radio model,” said Michael Harrison, publisher of Talkers magazine, a trade publication, in an interview.
The New York Times reported the deal earlier.
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