Sirius XM Radio Inc., the U.S. satellite-radio broadcaster, jumped in early trading after CNBC reported talk-show host Howard Stern is staying with the company for five more years.
Sirius XM rose as much as 25 cents, or 19 percent, to $1.56 in trading before U.S. exchanges opened. The shares have more than doubled this year on the Nasdaq Stock Market.
Terms of the agreement weren’t disclosed, CNBC said. Patrick Reilly, a spokesman for Sirius XM, didn’t immediately respond to a phone call or e-mail seeking comment.