Howard Stern Attains Broadcast Archives From CBS Radio, Settles Suit
May 26, 2006

A settlement has been reached in CBS Radio's breach of contract lawsuit against Howard Stern. Terms of the settlement will remain confidential, though Sirius will make a total payment of $2 million for Stern to regain rights to his broadcast archives, which he had not gained full control of upon his departure from CBS Radio.

A statement by CBS regarding the suit states: "The lawsuit brought by CBS Radio against Howard Stern, Sirius and others has been settled. As part of the settlement, CBS Radio will receive payments relating to the conveyance of its rights in the recordings of The Howard Stern Show. Sirius, for its part, will make a total payment of $2 million related to this conveyance. The remaining terms and conditions of the settlement are confidential."

Word first broke of the settlement two days ago by a court clerk commenting that a deal had been made. CBS Corp. filed the suit in February accusing Stern of misusing airtime on CBS Radio to promote his show on Sirius Satellite Radio. The lawsuit sought "compensatory and punitive damages for multiple breaches of contract, fraud, unjust enrichment, and misappropriation of CBS Radio's broadcast time." At a hearing two weeks ago, CBS' lawyer told the court that the two sides were close to reaching a settlement. Then last Wednesday (5/17), New York state court Judge Ira Gammerman postponed a scheduled hearing by a week to give more time for a settlement, according to Reuters

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Manny Simon
VP/Adult Formats,
Republic Records

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