Howard Stern’s Lawsuit Against Sirius XM Marches on – New Filing Available
Two weeks ago the world learned that Howard Stern’s production company, One Twelve Media, and his agent Don Buchwald were suing Sirius XM. Today the New York Supreme Court added a new piece of information to the case history. Sirius XM was officially served an AFFIDAVIT OF SERVICE OF THE SUMMONS, COMPLAINT AND NOTICE OF COMMENCEMENT OF ACTION SUBJECT TO MANDATORY ELECTRONIC FILING.
The filing, brief in nature, is simply stating the fact that Sirius XM Satellite Radio was officially served, and therefor aware that action is required on their part. As yet there is no official record that Sirius XM has responded to the suit. The company was served on March 22, 2011 and had 20 days to respond. A response was due this past Monday, April 11th. The fact that a response from Sirius XM has not yet been published on the New York Supreme Court website does not mean that a response has not been filed.
SiriusBuzz will monitor the case and issue an update when additional information becomes available.
Position – Long Sirius XM Radio
Spencer, how much of a financial threat could this lawsuit be? Is he also claiming that he brought subs in somehow w/ the merger of XM? Also do you think this is something that might be settled out of court?
First I must state that I am not a lawyer or finanvcial adviser.
The level of financial impact is still difficult to determine.
Sirius XM thought they had good contractual standing in not awarding the bonus. They have good attorneys and would not make such a decision lightly.
On the other hand Buchwald and Stern employ very capable attorney’s themselves, and would not sue unless they felt they had good contractual grounds to do so.
Look for the sides to negotiate a settlement of some sort.
Couldn’t the case be made that everyone on the Sirius side brought in new subs. Not just “Howard”. After all, wasn’t that the point of the merger,to bring in new subs and cut costs, both from Xm to Sirius AND Sirius to Xm. I find it truly sickening, the amount of shareholders money Howard has already gotten.(stolen) That’s just from his FIRST contract. The programming could have been improved tenfold with that ridiculous agreement.(new channels,shows,etc.) I find Howard’s show actually impossible to listen to; just knowing ANYONE was paid $500 million to talk on the radio 3 day’s a week. What a bunch of crap. He’s probably using Sirius-Xm money to sue them.
I find your argument ridiculous…Sirius compensates Stern according to his market based worth to the company. You think Mel is giving Howard his reported $500M contract because he likes him? Sirius management is highly competent – the fact that he was resigned indicates that their initial value analysis held true over the last 5 years. I happen to be a Howard fan and think that the only reason satelite radio is still around is become of him – who actually pays $10-$20 per month to listen to Martha Stewart or Jamie Fox? You can note the sports channels, but diehard fans are listening for free on local AM or watching on TV. Stern is only available on Satellite. Pretty obvious who is bringing the most SUBS.
Howard isn’t now, or ever was worth $500 million. I have been a subscriber since 2003 (long before Stern) and it had great promise even then. Satellite radio was going strong and would have survived without Stern and his “LUCKY PAYDAY” with competent management as it has now. I listen to the other channels also Actually, Martha Stewart’s channel is much better than BOTH Stern’ channels and has way more live content, although it doesn’t happen to appeal to me. And I bet her contract is far less.
For the record he wasn’t paid 500 Million. 500 Million was spread over five years for the construction of the studio, all of the staff involved with Howard’s show, and his salary.
Do you have any idea how much $500 million is? For a studio, and a handful of employees? Completely ridiculous. $35-$40 mil. would have covered that with plenty to spare.
Sirius would completely go belly up if they lost the stern show. and the suits there realize this. that’s why they resigned him. if he was such a tyrant and a thief, why wouldn’t they just cut him loose at the end of his initial contract and move on? because they know he’s the only thing keeping the majority of the listeners active.
I’ve been a subscriber since Stern came aboard, and am a fan. But without him on the radio, I wouldn’t pay more than $5 a month for what they offer otherwise.
Sirius knows they cant go on without him, thats why they renewed. Dont agree? Tune in 5 years and one month and see where what their existence consists of.
And Baba Booey to you.
Regardless of wether people agree to what the contract contained. The fact of the matter is, that is what SiriusXM agreed upon and maybe next time if the company survives the lawsuit they will not bite the hand of the man who saved Sirius from going under in the first place. Its not like they were honest about what would happen after the merger either.. Probably why there is another lawsuit over the antitrust laws.
Baba Booey Tata Toothy SaSaSmelly Re Re Retard!
Howard is a man of integrity from what I’ve come to know of him over the years. If he was due a bonus they should pay him. I personally would pay my subscription fee to listen to the Grateful Dead channel alone but Howard is a extra bonus if you ask me.
Well i tried listening to regular radio, but i couldnt listen to it after listening to stern, so i bought a sirius radio, if he leaves HARK32 is right sirius is gonna hurt for a while, stern says the top listened to channels are 100 and 101 and i tend to believe him, so if he leaves im pretty sure alot of people would unsubscribe and Sirius knows it…