In a deal that might dwarf the pay packages of even certain Major League Baseball stars, Sirius XM Radio (NASDAQ:SIRI) says it has just renewed its contract for rights to audio-stream MLB games for a further six years.
What was then XM first signed its MLB contract in 2004, paying $650 million for the right to carry games on satellite radio for an 11-year term. On Monday, Sirius XM -- Sirius and XM merged in 2008 -- announced it has agreed to renew the contract for an additional six years, extending its duration through 2021 and making MLB game broadcasts available on both Sirius and XM satellite radios, starting today.
Financial terms of the deal were not disclosed, but if the re-upped contract is valued similarly to the original, it could be that Sirius is paying in excess of $300 million for the MLB broadcast rights.
Under the terms of the agreement, every regular and postseason MLB game, plus certain spring training games and Spanish-language game broadcasts, will be available on both Sirius and XM satellite radios from Aug. 19 through the end of the 2021 season. All XM radio owners will have access to these games, as well as Sirius radio owners subscribing to either Premier or All Access packages, and also subscribers to the SiriusXM Internet Radio App and those listening online at SiriusXM.com.