you BET it is! and i personally heard les moonves (head of one or more cbs radio divisions) make nice-nice with howard on the air. what a two-faced son of a thousand bitches kind of thing this is to do
CBS Radio Inc. Files Suit Against Howard Stern and Related Parties for Multiple Breaches of Contract, Misappropriation and Unjust Enrichment
Tuesday February 28, 5:00 pm ET
NEW YORK, Feb. 28 /PRNewswire/ -- CBS Radio today announced that it has filed suit against Howard Stern, his company One Twelve, Inc., his agent Don Buchwald, his agent's firm Don Buchwald & Associates, Inc. and Sirius Satellite Radio, Inc.
The lawsuit is for compensatory and punitive damages for multiple breaches of contract, fraud, unjust enrichment, and misappropriation of CBS Radio's broadcast time. It further seeks damages from Sirius Satellite Radio, Inc. for unfair competition and tortious interference with Stern's CBS contract.
The 43-page complaint charges:
* Howard Stern repeatedly and willfully breached his written contract
with CBS Radio over the last 22 months of that contract,
misappropriated millions of dollars worth of CBS Radio airtime for his
own financial benefit, and fraudulently concealed his interest in
hundreds of millions of dollars of Sirius stock while promoting it on
the air.
* That on or about January 9, 2006, Sirius paid over 34 million shares of
stock, valued at approximately $220 million, to Stern and his agent
because Sirius exceeded by the end of 2005 certain subscriber targets
that were set in the Sirius-Stern contract. The complaint alleges that
the Sirius-Stern contract provided that Stern was to receive this stock
payment in 2010, but it had an acceleration provision that allowed
Stern to receive the compensation as early as January 2006 if these
subscriber targets were met. All of Stern's actions for which he
received this expedited compensation occurred during the time that
Stern was under exclusive contract with CBS Radio, when the Sirius
payment terms to Stern were kept secret...........
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3 comments:
I hope that they don't find some provision of the Homeland Security Act or Anti-terrorism bill to move against Mr. Stern with ... but they're probably looking at him at least as hard as J. Edgar looked at Martin Luther King (not that there are much in the way of parallels between the two men other than a brave disregard for the powers that be) ...
corporations that are used to running roughshod are sore losers, eh?
As well as Howard knows how to play the game, he's still an amateur next to these people. They knew all along that they would hit him with this, there's always a punishment for speaking your mind. Artists aren't allowed to get rich and still dis the man.
yes they DID know all along. howard isn't stupid, i'm surprised by this
and yeah mr shock NOT too very much in common betwixt and between those two men
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