The Case Against Howard Stern

[napho]

It seems to me a case could be made that on the one hand he hyped Sirius on his show and got listeners to buy shares and drive up their price; on the other hand he was putting himself in a position to sell his shares 4 years early and make a bundle, right out from under his fans. Maybe the SEC will ultimately decide the case .




Network: Jock abused millions in airtime to promote eh-eh-eh move

MARCH 8--Due to overwhelming demand, we've broken down and scanned the lawsuit CBS filed last week against Howard Stern. The network claims that the shock jock, a former employee of theirs now ensconced at Sirius Satellite Radio, breached his contract (which expired in December) by using CBS airwaves to help line his pockets with Sirius incentive payments. A copy of the CBS complaint, which was filed in New York State Supreme Court, can be found below. The network alleges that Stern, who in October 2004 announced his future defection to Sirius, spent his final 14 months on terrestrial radio constantly plugging Sirius. He did this, CBS contends, as a result of a secret deal that later awarded him (and agent Don Buchwald) more than $200 million worth of Sirius stock. That windfall occurred because Sirius had exceeded subscriber targets that were set in the satellite firm's contract with Stern. The radio host has called the lawsuit a "vicious" and "vindictive" move on the part of CBS and its president, Leslie Moonves. Stern, who recently embarked on what he calls the "I Hate Les Moonves Tour" of media outlets, charges that the lawsuit was filed to distract attention from the horrendous ratings that his CBS successors (like David Lee Roth) have recorded in his wake.


http://www.thesmokinggun.com/archive/0308061stern1.html

[Bytronix]

Never buy stock.

[MorphineInduced]

Its all good but I think the common radio stations suck anyway ..... maybe they should go invest there time in ripping off the citizens of America another way .........

[shawners]

CBS wanted to line thier pockets with money. They let him continue to promote sirius, as well as sex, and naked women. But they could of told him after his first air take of the show that had promoted sirius to not do it. THey did it so they could bring a multi-million dollar lawsuit against him. Gain the money back that they paid him, and CBS owns alot of howerd stern tapes and skits and wont release them to him until he pays up. I hate cbs, other then David Letterman.

[Psilaxs]

Shawners is right, they continued to let him do it so they would have something to snag him with later.

[Bytronix]

You could always try C band or Ku band satellite radio. 100% free. Plus the cost of equipment. And patience.

Edited to correct the spelling of the word satellite.