ContractsProf Blog

Editor: Myanna Dellinger
University of South Dakota School of Law

Thursday, April 7, 2011

Howard Stern, Are Your Sirius?!?

On the day after Fox announced that it is parting ways with its rodeo clown, we feature a post about a radio clown.  

HowardStern2000 Howard Stern is mad as hell, and he's not going to take it anymore.  According to Wikipedia, Sirius Satellite Radio has already paid Mr. Stern and his agent in excess of $300 million in stock on top of establishing a $100 million annual budget for Mr. Stern's radio program.  In December 2010, the parties announced that they were renewing their relationship for another five years  Then in March 2010, Mr. Stern filed a lawsuit against Sirius, alleging that his money was lonely and would lapse into depression if Sirius did not fork over some stock bonuses he alleges that he is owed on his first contract.

According to the New York Times, the terms of Mr. Stern's new contract were not disclosed, but it was believed to be for five years at around $80 million per year.  According to the Times, the new contract is all cash.  Sirius maintains that it has not violated itsagreement and has made all required stock payments to Mr. Stern.  Sirius also registers its surprise and disappointment upon learning that Mr. Stern and his production company have filed suit against Sirius.

More information about the law suit is available from Sirius Buzz here.

But for those of you addicted to Mr. Stern's intelligent but profane material, never fear.  Rolling Stone assures us that the show will go on.  Mr. Stern wants money he believe he is owed, but he also knows who he works for and that he wants to continue to do so.  So he is mad as hell but he is going to take it (i.e., his multi-million dollar salary) for another five years at least.

[Jared Vasiliauskas & JT]

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