Howard Stern - Howard Stern Sues Radio Bosses Over Bonus Payments

Howard Stern has filed suit against his bosses at American radio network Sirius XM over allegations they have failed to pay him performance-based bonuses.
The shock jock has taken legal action alleging his employers have reneged on an agreement to hand over stock options if the company exceeded its subscriber estimates by two million or more listeners.
The legal papers, filed at the Supreme Court of the state of New York, state Stern's claim that the offer was made in 2004 and the company surpassed its targets in every year from 2006 to 2010 and was boosted by the merger of Sirius with rival XM.
The lawsuit reads, "When Sirius needed Stern, it promised him a share in any success that the company achieved. But now that Sirius has conquered its chief competitor and acquired more than 20 million subscribers, it has reneged on its commitment to Stern, unilaterally deciding that it has paid him enough."
Sirius XM bosses have now released a statement, insisting they are "surprised and disappointed" by the legal action. It reads, "He is a valued part of our company. We have met all of our obligations under the terms of our 2004 agreement with Howard, his agent and production company."
Stern signed a new contract with Sirius XM in December (10) which will keep him on air until 2015. His previous contract with the company was estimated to be worth a massive $500 million (£313 million).


Contactmusic

Tags: Howard Stern


Editors Recommendations

MS MR Admit They're 'Natural Performers' As They Enjoy 2014's Festival Season

Some bands are worth getting excited about and, with the festival season well under way...

MS MR Admit They're 'Natural Performers' As They Enjoy 2014's Festival Season

Miley Cyrus Forced To Cancel More 'Bangerz' Tour Dates As She Remains Hospitalized

Miley Cyrus is still receiving hospital treatment for "severe allergic reaction...

Miley Cyrus Forced To Cancel More 'Bangerz' Tour Dates As She Remains Hospitalized

Peaches Geldof Will Be Laid To Rest In Same Church As Late Mother

Peaches Geldof, who suddenly died at the beginning of this month (April 7th)...

Peaches Geldof Will Be Laid To Rest In Same Church As Late Mother

Gwen Stefani To Step In For Christina Aguilera On "The Voice"

We never would have pegged Gwen Stefani as the reality talent panelist type...

Gwen Stefani To Step In For Christina Aguilera On

Bryan Singer Announces Alibi, But It Won't Help "X-Men" Marketing

As X-Men director Bryan Singer is gearing up for his defense case, which he will have...

Bryan Singer Announces Alibi, But It Won't Help

Prince To Release New Album With New Warner Bros. Records Partnership

Prince and Warner Bros, Records seem to have put their differences aside...

Prince To Release New Album With New Warner Bros. Records Partnership

Lindsay Lohan's Ex List Was Actually A Step In Her Recovery

Lindsay Lohan really did write down her now infamous list of lovers, which has been...

Lindsay Lohan's Ex List Was Actually A Step In Her Recovery

'Mrs. Doubtfire' Cast Reluctant For Sequel: A Cash Cow For Robin Williams?

The news that a Mrs. Doubtfire sequel is definitely in the works 21 years after the 1993...

'Mrs. Doubtfire' Cast Reluctant For Sequel: A Cash Cow For Robin Williams?

Music Fans Crown Ozzy Osbourne And Lady Gaga "Hardest Artists To Understand"

Music fans have named Lady Gaga, Miley Cyrus and Rihanna in their top ten hardest...

Music Fans Crown Ozzy Osbourne And Lady Gaga


More recommendations

Comments

Howard Stern Newsletter

Subscribe to this news alert service to receive news and reviews on Howard Stern

Unsubscribe | Unsubscribe All