Re: Howard Stern In Big Trouble
- From: "Calvin Jones & the 13th Apostle" <Another_Thin_Line@xxxxxxxxx>
- Date: Tue, 28 Feb 2006 21:14:22 -0500
I'd love to hear the lawyer(s) on this board comment on this
"Phil H." <phlhsting@xxxxxxxxx> wrote in message
<pigiron212@xxxxxxxxx> wrote in message
This is not only NOT news, it's got nothing to do with Howard himself.
It is very much news and very much about Howard
CBS Radio sues Stern for breach of contract
Feb 28, 2006 - By Larry Fine
NEW YORK (Reuters) - CBS Radio on Tuesday sued ribald U.S. radio host
Stern and Sirius Satellite Radio Inc., claiming breach of contract and
related to Stern's move to Sirius earlier this year.
The suit, seeking compensatory and punitive damages of hundreds of
of dollars, was described by Stern as "a personal vendetta" launched by
Corp. chief Leslie Moonves in response to the network's sagging radio
fortunes since Stern left for satellite radio.
"I really do think this is a personal vendetta," Stern told a news
conference at his lawyer's office in Times Square. "Les has had it in for
for a long time. I don't deserve it."
The 43-page suit filed in State Supreme Court also named Stern's company
Twelve Inc., his agent Don Buchwald and his firm Don Buchwald &
It claims multiple breaches of contract, fraud, unjust enrichment, and
misuse of CBS Radio broadcast time. The suit seeks damages from Sirius for
unfair competition and interference with Stern's CBS contract.
The hugely popular Stern shocked the broadcasting world in October 2004
he signed a five-year deal with Sirius reportedly worth $500 million. In
early January, 14 months later, he began broadcasting on Sirius, where his
locker-room humor fills two entire channels.
He broadcast for CBS Radio until days before his switch and relentlessly
spoke of that move as it neared.
The suit says Stern profited from promoting Sirius during his CBS Radio
broadcasts. It specifically seeks to claim from Stern and his agent more
than 34 million shares of Sirius stock, valued at about $220 million, that
they received because the company exceeded by the end of 2005 certain
subscriber targets set in his contract.
It also seeks all the revenue gained by Sirius from adding more than 1
million new subscribers obtained between when the deal was announced and
when Stern left CBS. It also demands Stern repay CBS Radio all the
compensation he received from them during the 14-month period.
CBS Radio also charges Stern breached various aspects of his contract and
that Sirius encouraged him to breach them.
Stern's move to Sirius, touted more than a year in advance, was seen as a
bold bid by the fledgling satellite radio business to attract some of his
millions of fans as paying subscribers.
Stern said his deal with Sirius was all above board.
Replacements for Stern in various U.S. radio markets reached by CBS Radio
have failed to match Stern's popularity.
"They're floundering," Stern said.
Stern said he had a meeting with Moonves and CBS Radio chief executive
Hollander about three weeks ago to discuss their complaints.
"I said, 'Les, what's going on?"' said Stern. "He said, 'It's nothing
personal, it's just business.' But . it is personal."
Stern said his move garnered much media attention and CBS added to it,
booking him for appearances on its news magazine show "60 Minutes" and
Show with David Letterman."
"I made them millions of dollars. If I was hurting them why did they keep
on the air for 14 months?" Stern said. "How can you have it both ways?"
He said he asked Moonves why he did not pull him off the air. "Les said,
knew I could sue you later,"' Stern said.
Copyright 2006 Reuters News Service. All rights reserved. This material
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