Rush Limbaugh renews contract

[ABX]

iHeart's stock shot up this morning on the news.

Rush Limbaugh, the country's best-known conservative talk radio host, has renewed his contract with radio distributor iHeartMedia.

The company called it a "long-term, multi-platform agreement," but declined to comment on the length or value of the contract.

That's a big change from 2008, when Limbaugh signed an eight-year deal worth about $400 million -- huge dollar figures that were trumpeted at the time. .....

http://money.cnn.com/2016/08/02/media/rush-limbaugh-renews-talk-radio-contract/index.html

[jmyrlefuller]

He pretty much had two options: retirement or renewal with iHeart/Premiere.

There were really only two other takers if he were to move on, but Cumulus/WestwoodOne is widely believed to be too cheap to shell out even a reduced asking price for Limbaugh, and Salem, although it's shown willingness to spend, probably would cause a lot of harm to Limbaugh's ratings simply because its stations aren't very well known.

I guess it came down to how much Limbaugh still wanted to work in radio; apparently it was enough to take whatever iHeart was offering. I wonder if the deal gives him increased time off.