Howard Stern and his agent filed a lawsuit against Sirius XM Radio Inc., Stern’s employer for the next five years, claiming it owes them stock awards for helping to grow its subscribers. Per the AP, Stern’s production company, One Twelve Inc., and his agent Don Buchwald, say Sirius awarded them a bonus after Stern started with the company in January 2006, but failed to do so the next four years when its growth targets were also exceeded. Sirius has issued the following statement: “SIRIUS XM just signed a contract through 2015 with Howard Stern, and he is a valued part of our company. We were thus surprised and disappointed by the subsequent legal action initiated by his production company and agent. We have met all of our obligations under the terms of our 2004 agreement with Howard, his agent and production company.”
Mar 23
2011
11:50 AM ET
Howard Stern sues Sirius XM over bonus
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Go Howard….although I hope this doesn’t sour his current deal with Sirius.
Before people cuss out my statement or feel he’s being greedy…
Howard has been a huge cheerleader for Sirius as opposed to the idiots who took the money and ran with their deals. I’M LOOKING AT YOU, OPRAH WINFREY.
I curse you out, because we all know big fat Oprah can’t run.
No complaints there.
agreed! If the tides were turned they wouldn’t have a problem suing stern.
I love him and BlondeMatch was amazing
Get me some more money bofss, Jackson needs to eat.
former Howard listener who says Opie & Anthony and Ron & Fez on the Virus (Sirius 197/XM 202) are much better anyway…Howard has become so full of himself (not that he always wasn’t, but its worse now)
I’m not going to argue with personal tastes (surprising, I know), all I know is that I enjoyed O&A before their whole “church incident” that got them fired. But since they’ve come back, I just don’t find them even remotely funny. I’ll still take Stern any day of the week, but hey, that’s why Sirius has different stations.
yep totally agree … was just stating my opinion, no disrespect towards Howard fan’s was meant
I know Sirius wouldnt have the millions of customers that they do now without Howard. I think if Sirius stock held its value, or grew from the original 5 bucks a share it was when Howard was given his stock maybe he wouldn’t be so money grubby now. We know Sirius will take their sweet time giving him what he wants as it makes for great radio. Give Howard something to rant about and everyone listens. Without a cause to complain about he can get boring and kind of like a sheet aimlessly flapping in the wind.
How can you sue for a bonus? A bonus is discretionary not guarenteed income. I’m not a lawyer, but I do get a bonus based on my performance and how well the company is doing. If I get a better one than the previous year awesome, if not, well then oh well, better work harder next year..
You can sue for a bonus if its in your contract — for example if HS has it in his contract that for every 10,000 new subscribers he gets a $100,000 bonus for the length of the contract, then when that target is reached he’s owed the cash. No wiggle room.
If you click through, you’ll see the details of the suit.
He was to get bonuses based on subscriber growth. Sirius claims subscribers brought in by the XM merger don’t count toward those growth targets.
Of course, without Stern, Sirius would never have been able to force XM to merge.
So it’s a bit complex, therefore the courts will be sorting it out.
seriously. he doesn’t already have enough money. if Sirius met their contract obligation. Done.
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