Howard Stern Lawsuit Dismissed Against SiriusXM For $300 Million In Stock Awards

In the words of his America’s Got Talent co-judge Howie Mandel, radio personality Howard Stern’s lawsuit against SiriusXM is a decisive “no deal.”

The host of the eponymous Howard Stern Show was seeking $300 million from his employer SiriusXM, claiming that subscribers he attracted to both the XM and Sirius divisions contributed to his performance-based stock awards, The Smoking Gun reports. Judge Barbara Kapnick, however, ruled that since Stern’s contract only included awards for Sirius subscribers, not those of XM, he fell short of the number of listeners the contract required him to bring in and therefore is not entitled to the stock awards.

Stern was seeking four stock awards valued at $75 million each, which dwarfs even the stock bonuses seen on Wall Street. Last year, JPMorgan Chase CEO Jamie Dimon took home $17 million worth of stock and other options, while his Goldman Sachs counterpart Lloyd Blankfein received $10.7 million in stock awards.

Still, Stern is one of many on-air personalities to sue their employer. Keith Olbermann is suing from his former employer Current TV for $70 million over breach of contract when he was fired in late March. The fledgling network is now countersuing Olbermann, claiming instead that he violated "values of respect...and loyalty to our viewers,” co-founders Al Gore and Joel Hyatt wrote in a statement.

But suing over wages isn’t limited to talk show hosts. Recently, employees have been increasingly proactive about getting wages they think they’re entitled to. Just this week the Supreme Court is reviewing claims from pharmaceutical representatives that their employer GlaxoSmithkline owes them overtime pay. Earlier this year, Swiss drugmaker Novartis AG settled a class-action suit over overtime pay with workers for $99 million.

Comments

[Gladiator0719]

08:35 AM on 07/03/2012

$300 million, c'mon Howard don't be the typical New York Jewish Stereotype. You can't take it with you when you die, plus you are already super filthy rich on top of that....Spread the wealth, let others have a chance at making a buck or two....

[tincup2005]

05:32 PM on 04/19/2012

I'm a middle aged guy who has listened to Stern for over 20 years. When he went to satellite, I purchased a radio and subscription so I could follow him on unregulated airwarves and can say without question, every dollar I spent was worth it. He's incredible entertaining, humorous and understands the radio medium better than any jock in history. Sure, he has his detractors because he pulls no punches in calling jerks on the carpet for being jerks. He has people who are jealous of his success. That goes with the territory. He's a million times better than the next jock in line and I can't tell how many times I've had to pull my car over while driving because I laughed so hard I couldn't see straight. I "get" his show. So does over 15 million other listeners. To those who don't like him, who cares? No one is asking you to listen. I'll keep laughing every morning while you growl at the world and the hand its dealt you.

[redsongia]

12:12 AM on 04/21/2012

The dude is funny, no doubt and his fans will follow him because there's no one quite like him.  It seems like this case hinged on some technicality over whether listenrs subscribed to Sirius or Xm.  Ok, maybe Stern'slawyers should have caught this ambiguity in the contract.  Maybe it's his mistake and he has no recourse, but I think it's bad business for Sirius XM to give him a reason to walk in 3.5 years.  I also think trying to compare him to Olbermann is crap.  Olbermann was "supposed to" bring viewers to "whatever TV' [can't ever remember the name of the station].  Stern ACTUALLY brought listeners and has for years.

[tincup2005]

10:55 AM on 04/21/2012

An intelligent repy? Wow. Thank you. Yes, you are correct. Sirius/XM put the screws to Stern using a technicality and pulled it off. Will Stern bolt? Of course. Will millions of listeners also leave? You bet, including me. They were penny wise and pound foolish and in a year and a half when Stern leaves it will cost many of them their jobs.

[jpark377]

10:02 PM on 04/23/2012

I've been listening since he moved to K-Rock, but to say he "pulls no punches" nowadays is totally incorrect. There was a time that he was irreverent and incredibly amusing, but now he's a politically correct shill for the Democrat Party, who has transformed his show into an infomercial for "America's Got Talent". I can't help to think that if Sam Kinson was around today doing his edgy material, Howard would actually find it offensive. What ever happened to the great racial humor he used to do on a daily basis with Jackie or Artie cackling the background? That brings up another issue: if he really was concerned with his fans, how come that Jackie/Artie chair has not been been filled? My subscription cost has just recently gone up: they should be able to find someone for that chair. And with his big three-day schedule, I'm sure that he's chased many listeners over to Opie and Anthony. Who wants to hear old re-runs two days a week?

[tincup2005]

09:29 AM on 04/24/2012

I'll take Howard three days a week versus no days a week. As for his political views, he's always been liberal bent. When you are battling the government and the FCC and the religious right, how can you not be liberal? The Tea Baggers and their equivalent have been trying to get him tossed off the airwaves for decades. As Howard says, if you don't like what he does, change the channel. I'll keep mine tuned to him. Opie and Anthony are not in the same class as Howard, and they owe their very existence to his program.

[hiredshoe]

05:06 PM on 04/19/2012

Ifired three men in one morning for playing his show in my warehouse,medical reasons, the sound of his voice turns my stomach!!

[redsongia]

12:13 AM on 04/21/2012

Too jewish?

[hiredshoe]

09:24 AM on 04/21/2012

redsongia,to efin obnoxious and new yorkish!

[pittelli]

05:01 PM on 04/19/2012

I haven't listened to Howard Stern since he came out in favor of the Iraq War and mocked guests who opposed it. To me, that was the point that he jumped the shark and became just a money-hungry tool. I'm surprised people are still listening to him.

[bpaley25]

05:44 PM on 04/19/2012

He has since gone back on his original war stance, hates the fact that we're still in Iraq and Afghanistan and has admitted his mistakes. He's had the Dixie Chicks on his show plenty of times and has apologized profusely for his reaction to them. Facts are fun that way. He's NEVER been one to not admit when he is wrong. The guy is the most honest man in broadcasting. Do some research...

[pittelli]

11:57 AM on 04/20/2012

You only get one chance on a war. He played the anti-establishment guy for years and made a lot of money off of it, but that was the first time he had a chance to take a real stand against the powers that be and he failed. At that point, his whole thing is schtick. If he comes out against the inevitable run-up to a war in Iran, and takes a real anti-war stance, then I will take him seriously. I doubt that he will. Anyone can talk tough when no real gut-check decision needs to be made.

[jpark377]

09:45 PM on 04/23/2012

I think he jumped the shark when his wife dumped him and he became the politically-correct star f----er he is today (he's just another Hollywood Left-winger now). I have one buddy of mine that thinks it goes back as far as his apology in spanish for expressing his opinions in the death of Selena. Either way, it isn't the cutting-edge program it once was when Sam Kinison was around.

[albertdavin]

02:38 PM on 04/19/2012

i just want all of you that THINK you know howard stern and think he's such a horrible person and his show is so garbage to know that ALL of you have had at least one doctor, lawyer, accountant or other professional person work for that's a fan of his.

[wikiwiki]

05:13 PM on 04/19/2012

I have no idea what you just wrote. It's damn near illiterate.

[twoto2]

05:30 PM on 04/19/2012

LOL!!!!!

[redsongia]

12:15 AM on 04/21/2012

It's totally illiterate.

[jaconi]

11:28 AM on 04/19/2012

Shock jock finally gets a shock he deserves you smear enough po po and it always comes back to you. This guy single handedly brought down more society values than any one on TV or radio in history. $300 million he lost what has society lost due to his lack of respect for others, what has he tought his children, hopefully his children will see there is no payday for extreme waste of respect for others.

Jaconi

[albertdavin]

01:24 PM on 04/19/2012

howard has more respect for homosexuals, women, poor people and minorities than MOST people in this country have. he speaks up for ALL of their rightyou have no idea what you're talking about. maybe if you took the time to actually LISTEN to what he has to say and not take snippets of what the media takes out of context and feeds to you, you would know that your comment makes ZERO sense.

[whalertrailer]

05:03 PM on 04/19/2012

Sounds like you never actually listed to his show. I've listened to him for over 15 years and if he was any of the things you're claiming, I wouldn't have been there for it.

So answer honestly, to make the claim you're making how long have you listened and please, cite some examples.

[dvcthr]

11:22 AM on 04/19/2012

Humble up thyself brother Stern. You've already been blessed with BIG $$$$$. There is great opportunity to help someone less fortunate than you in these tough times.

[joeshop8]

11:12 AM on 04/19/2012

Well once again the only People to come out on top will be the Attorneys.

[redsongia]

12:06 AM on 04/21/2012

yay, lawyers!

[joeshop8]

01:06 AM on 04/21/2012

Ton-o-cash

[Deborah Thomas Welch]

11:03 AM on 04/19/2012

having a trophy wife must be expensive i guess

[rkeeeballs]

10:34 AM on 04/19/2012

A piece of chitz didn't get chitz ! Now that's justice....yup !...$ ha ha ha....

[Karen StovallStringer]

11:55 AM on 04/19/2012

I don't think we have justice yet but we sure do have karma. ;p

[fletchomatic]

10:03 AM on 04/19/2012

yeah Howard's kind of jumping the shark lately

[wikiwiki]

05:14 PM on 04/19/2012

I agree. I had to stop listening to his show because I got so sick of hearing about AGT and how wonderful he is. Boring as hell.

[fletchomatic]

04:43 PM on 04/26/2012

I agree 100 percent wikiwiki

[reimerconstruct]

09:35 AM on 04/19/2012

Jr. high school potty humor. Good for 5 min. then.... gone.

[natal plum]

10:56 AM on 04/19/2012

Exactly. When he decided to go straight for the juvenile male demographic back in the mid 90's he pretty much sealed his own fate by abandoning his adult listeners.

[tincup2005]

05:36 PM on 04/19/2012

He has 15 million adult listeners each day. His audience has increased every single year. I'm in the media business. I know. Next time you take a shot, use facts instead of opinion.

[mgreen1231]

09:21 AM on 04/19/2012

Way to go Howard, showing everyone your true colors. Maybe everyone can figure out now you are a piece of filth and a slimball

[ftyac]

09:48 AM on 04/19/2012

because he thinks it worth while to fight for $300 million hes a slime ball? Id perform oral on his audience for that. Your obviously mentally challanged

[rkeeeballs]

10:35 AM on 04/19/2012

Me thinks that it is you, that is mentally challenged !...yup

[albertdavin]

01:26 PM on 04/19/2012

so he's a "slimball" for fighting for what he thinks his employer owes him? ok, well if that's the case the next time your employer shortens your check just let it slide instead of being a "slimball" and fighting for what you believe is yours.

[whalertrailer]

05:06 PM on 04/19/2012

One thing I learned years ago listening to Howard was how to stand up for yourself in business. He's got integrity in a business where few others do. if you listen to his show he lays it all out there so you can hear where he's coming from. Serius put the screws to him and he is fighting to get what is owed.

[kcgrammy1]

09:20 AM on 04/19/2012

Well, this is a joke if nothing else. I can't figure out how someone like Howard went as far as he has on television. I wouldn't pay to see him or go see him at a public toilet. He is gross, over paid, has a huge ego about himself & to me, I've not heard one single thing that was good come out of his mouth. Just stupid

[albertdavin]

10:10 AM on 04/19/2012

you have no idea what you're talking about. he has NO ego about himself. he talks about himself ALL THE TIME! if you listened to his show you would know that. he doesn't like LOTS of things about himself and he lets that be known to ALL of his listeners.

[wikiwiki]

05:17 PM on 04/19/2012

Are you joking when you say he never talks about himself? ALL he talks about is AGT and what a wonderful judge he is and how he's saving that show.

[natal plum]

10:57 AM on 04/19/2012

You don't have to pay to see him doing his toilet act. The Fartman thing he did for free.

[Nowhear this]

08:43 AM on 04/19/2012

What a joke Olderman is sueing for getting fiered. Shure give it a try Kieth.LOL

[pfarber2002]

10:32 AM on 04/19/2012

The ONLY way Olberman gets any money is if the judge has never seen his show.

[nymexdvd]

11:26 AM on 04/19/2012

learn to spell!!!