Stern will be fine. Sirius XM will be fine. Investors -- while they wait out the process -- will be fine. The stock is now trading for less than 7 times next year's projected earnings with a 5.1% dividend yield. Stern isn't likely to come back to Sirius XM on the cheap, but investors can do so right now.

Signs point to SiriusXM not renewing its contract with radio legend Howard Stern—and his employees are preparing for the change. According to Howard Stern’s employees, “the writing has been on the wall for well over a year” that SiriusXM wouldn’t be renewing the radio host’s $500 million contract.

Howard Stern had a message for his listeners amid rumors he could be done at SiriusXM when his contract expires at the end of the year. On Wednesday, Stern broke his summer vacation one day after the rumors surfaced for what a Daily Mail source called an "emergency show" that featured an