Rush Limbaugh Talks His Way to a Large Payday

Regardless of your opinions on Rush Limbaugh, there is no denying that he has been able to attract a large following via his conservative-values based talk radio show.

This large following has translated into large revenues for not only Limbaugh, but his handlers at Clear Channel's Premiere Radio Network. Due to this success, they have announced that Limbaugh's contract at the network will be extended by $400 million through 2016.

According to Reuters.com, the extension will also include a $100 million signing bonus and will be effective a month before the broadcaster commemorates 20 years of syndication on August 8.

Limbaugh's flagship program, The Rush Limbaugh Show, plays on 600 stations worldwide and reaches about 20 million people weekly. Under the new contract agreement, Limbaugh would maintain production on this show along with The Rush Limbaugh Morning Update, the Limbaugh Letter, which appears monthly, and RushLimbaugh.com, a site that includes the subscription service Rush247.com.

This new deal is set to replace Limbaugh's original $285 million contract, which is set to expire next year; it is also considered the most expensive deal in radio since 2004, when Howard Stern was signed on by Sirius Satellite Radio and paid him $500 million for five years.

Limbaugh's deal comes at a good time, as Clear Channel has tried various buyout deals to make their company a private venture. They are also in talks with granting Sean Hannity a deal for his own radio show; currently, he is syndicated with ABC Radio networks.