Howard Stern's Lawsuit Against Sirius XM Dismissed
Howard Stern had claimed his employer owned him additional stock awards for exceeding subscriber targets that would have totaled more than $300 million — targets exceeded when Sirius merged with rival XM Satellite Radio. But Judge Barbara Kapnick of the New York State Supreme Court wrote in an order dated Monday that the contract language “is inconsistent with any reading that the parties intended subscribers acquired by merger with XM to be considered.” She called the disputed wording “clear” and “unambiguous”. In the suit filed by his production company and agent against Sirius in March 2011, the company’s highest-profile and highest-paid DJ said the sub gains that resulted when Sirius merged with XM should be counted as part of the math that calculated Stern’s compensation in his original blockbuster five-year, $500 million contract that brought Stern over from terrestrial radio. The lawsuit came three months after Stern signed a new five-year deal to remain at Sirius XM, a move that launched a war of words between Stern and Sirius XM boss Mel Karmazin, who at one point claimed he wasn’t in favor of Stern’s original blockbuster deal in the first place, though Karmazin was plenty happy when Stern landed his high-profile judging gig on NBC’s America’s Got Talent.
Related:
Howard Stern Vs. Mel Karmazin: Round 2
Howard Stern Vs. Mel Karmazin: It’s War!
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