Talk radio giant Rush Limbaugh renewed his contract with Premier Radio Networks and Clear Channel Radio, continuing syndication of The Rush Limbaugh Show, according to a press release on RushLimbaugh.com.

The program will celebrate 20 years on-air in August of this year.

"This is exactly where I want to be, doing what I was born to do, with an amazing audience and phenomenal support from affiliate stations and sponsors," Limbaugh said on his Web site. "I’m having more fun than a human being should be allowed to have."

The terms of the contract were not disclosed; however, The New York Times reported that the contract is estimated to be worth around $400 million -- or $38 million per year -- until 2016.

The contract also incorporates the syndication of a 90-second commentary called the Rush Limbaugh Morning update, which airs on weekdays; The Limbaugh Letter, a monthly newsletter; RushLimbaugh.com, and Rush247.com, an online subscription service.

The New York Times also reported that Limbaugh also landed a $100 million signing bonus, making Limbaugh’s contract the largest terrestrial radio contract ever signed.

According to The New York Times, Limbaugh’s deal is overshadowed only by Sirius Satellite Radio personality Howard Stern, who signed a contract for $100 million for five years in 2004.

The Rush Limbaugh show is heard weekly by nearly 20 million listeners over approximately 600 radio stations nationwide, and according to Chars Rahilly, president of Premiere Radio Networks, advertising an affiliate demand is at an all-time high for Limbaugh.

"The Rush Limbaugh Show enjoys an unprecedented platform of radio affiliates," said Rahilly.

"Broadcasters of Rush’s quality come along once in a lifetime," said Clear Channel Radio President and CEO John Hogan. "We’re privileged to continue our relationship, which is unprecedented in the history of our industry."