The simple answer appears to be yes; in fact, the savings that Sirius gets by unloading Howard could offset debt and pay for alternative talent. "The company might return cash to shareholders through buybacks or dividends, Karmazin said. Such a move will become increasingly likely as Sirius XM continues to lower its debt and build cash flow, though there’s no target date for such action, he said."
Still, Howard remains a great fit for Sirius and while some audience might defect without him, investments in other alternative programming could bring in a new audience. And "Sirius XM stations, such as Raw Dog Comedy and Playboy Radio, would help retain many of Stern’s listeners if he left, he said."
Howard's contract doesn't expire till December, so there is still time for Howard Stern and Sirius to renew their vows.
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