Report: Howard Stern Camp Sues Sirius XM Over Stock Bonues
March 22, 2011
Howard Stern's management and production company have reportedly sued Sirius XM over unpaid stock bonuses that the Rolling Stone cover boy was promised. According to TMZ, the suit claims that Sirius originally brought Stern into the fold by promising him a share "in any success that the company achieved." However, once the Sirius-XM merger took place, the suit claims that the satcaster decided Stern had been paid out enough bonuses.
The suit claims that his stock bonuses were based on subscriber estimates ranging from 3.7 million in 2006 to 12.1 million in 2010. Since then, Sirius XM now boasts over 20 million subscribers, yet Stern has not been paid accordingly. According to TMZ, the suit claims that "Sirius needed Stern more than Stern needed Sirius."
The suit is seeking unspecified damages from Sirius XM.