Sirius Snags Ex-Viacom Chief

Howard Stern will have his old boss to answer to at Sirius Satellite Radio.

Former Viacom Inc. president and chief operating officer Mel Karmazin has been named the new chief executive of Sirius, succeeding Joseph Clayton. Clayton will remain chairman of the board.

In early June, Karmazin departed from Viacom, where he had been the No. 2 executive in charge of day-to-day operations. The media company is the parent of Infinity Radio, which syndicates Stern's current broadcast radio show. In January of 2006, Stern will begin his new gig on Sirius.

In a statement, Karmazin says he's looking forward to his new job, calling Sirius "a growth company that can reshape the landscape of the radio business."

The announcement comes just one month after Sirius snagged another big-time media name: radio shock jock Howard Stern, who worked for Karmazin for many years at Infinity Broadcasting, which is now a division of Viacom.

In joining Sirius, Karmazin will return to his roots in the radio business, where he worked his way up from the bottom on his way to becoming a big player in the media business.

"This is a perfect opportunity for me because I want to lead a growth company that can reshape the landscape of the radio business," Karmazin said in a statement.

Sirius co-president Scott Greenstein said: "Mel Karmazin is a legend in the entertainment industry and can help us build the new medium of satellite radio."

The news, which was announced after the close of regular stock trading, sent Sirius' shares sharply higher in after-hours trading on the Nasdaq Stock Market, where they gained $1.05 to $5.77. In regular trading, the shares had closed down 23 cents at $4.72.