Oh My.....Howard stern needs to offer,

[Rico]

...but you liked Cocoon? 

613909[/snapback]

No, Three Amigos.

[Talonz]

This doesn't look good for Stern:

 

Press Release Source: CBS Radio Inc.

 

 

CBS Radio Inc. Files Suit Against Howard Stern and Related Parties for Multiple Breaches of Contract, Misappropriation and Unjust Enrichment

Tuesday February 28, 5:00 pm ET

 

 

NEW YORK, Feb. 28 /PRNewswire/ -- CBS Radio today announced that it has filed suit against Howard Stern, his company One Twelve, Inc., his agent Don Buchwald, his agent's firm Don Buchwald & Associates, Inc. and Sirius Satellite Radio, Inc.

The lawsuit is for compensatory and punitive damages for multiple breaches of contract, fraud, unjust enrichment, and misappropriation of CBS Radio's broadcast time. It further seeks damages from Sirius Satellite Radio, Inc. for unfair competition and tortious interference with Stern's CBS contract.

 

 

The 43-page complaint charges:

 

* Howard Stern repeatedly and willfully breached his written contract

with CBS Radio over the last 22 months of that contract,

misappropriated millions of dollars worth of CBS Radio airtime for his

own financial benefit, and fraudulently concealed his interest in

hundreds of millions of dollars of Sirius stock while promoting it on

the air.

 

* That on or about January 9, 2006, Sirius paid over 34 million shares of

stock, valued at approximately $220 million, to Stern and his agent

because Sirius exceeded by the end of 2005 certain subscriber targets

that were set in the Sirius-Stern contract. The complaint alleges that

the Sirius-Stern contract provided that Stern was to receive this stock

payment in 2010, but it had an acceleration provision that allowed

Stern to receive the compensation as early as January 2006 if these

subscriber targets were met. All of Stern's actions for which he

received this expedited compensation occurred during the time that

Stern was under exclusive contract with CBS Radio, when the Sirius

payment terms to Stern were kept secret.

 

* This contract thus provided a compelling incentive for Stern to do all

that he could to help Sirius reach the subscriber targets by the end of

2005 so that he could receive his Sirius stock payment as soon as

possible while Sirius's stock was extremely valuable. Without the

accelerated payment, Stern would risk the decline of the Sirius stock

value. By taking action on CBS Radio's airtime in 2004 and 2005, Stern

assured himself of immediate access to $200 million in assets that

could be readily converted to cash.

 

* By engaging in continuous promotion of Sirius on CBS Radio airtime

without any payment by Sirius to CBS for these advertisements and by

pocketing over $200 million dollars for his personal benefit, Stern

misappropriated millions of dollars worth of CBS Radio airtime for his

own financial benefit and the financial benefit of Don Buchwald, his

agent, and Sirius in contravention of repeated directives by CBS Radio.

 

* That Stern also breached his contractual obligation to inform CBS Radio

of plans that might have a bearing on his future. Under the Agreement,

Stern had the obligation to give CBS Radio the first opportunity to

discuss participation in radio projects that are conceived during the

term of the Agreement, even if the concept or project was launched or

implemented after the term. Stern ignored that responsibility, and

negotiated and concluded his agreement with Sirius in secret.

 

* To this day, Stern continues to breach his contract by refusing to

return property that belongs to CBS Radio -- the recordings of his CBS

radio program that, under his Agreement with CBS Radio, belong to the

company.

 

The suit further charges that Sirius intentionally interfered with and procured Stern's breach of the Agreement. Sirius knew that Stern had a contractual obligation to maximize the prospects for the success of the CBS Radio program and to comply with his duty of good faith. Sirius intentionally induced and caused Stern to breach these contractual provisions by offering to accelerate Stern's payment of millions of dollars in stock options to promote Sirius on CBS airwaves and by concealing Stern's stock interest from CBS Radio.

 

The complaint in this lawsuit was filed in the Supreme Court of the State of New York, County of New York.

[The Poojer]

This doesn't look good for Stern:

 

Press Release Source: CBS Radio Inc.

CBS Radio Inc. Files Suit Against Howard Stern and Related Parties for Multiple Breaches of Contract, Misappropriation and Unjust Enrichment

Tuesday February 28, 5:00 pm ET

not sure of the validity of this suit, but i know that he is not using material from his radio days, in fact he is even having musicians in the studio to re-record some traks that he especially liked, it is funny that this comes one day after the abysmal numbers posted by david lee roth as compared with the mega-numbers howard produced during his final month.  Sounds like terribly sour grapes to me

 

NEW YORK, Feb. 28 /PRNewswire/ -- CBS Radio today announced that it has filed suit against Howard Stern, his company One Twelve, Inc., his agent Don Buchwald, his agent's firm Don Buchwald & Associates, Inc. and Sirius Satellite Radio, Inc.

The lawsuit is for compensatory and punitive damages for multiple breaches of contract, fraud, unjust enrichment, and misappropriation of CBS Radio's broadcast time. It further seeks damages from Sirius Satellite Radio, Inc. for unfair competition and tortious interference with Stern's CBS contract.

    The 43-page complaint charges:

 

    * Howard Stern repeatedly and willfully breached his written contract

      with CBS Radio over the last 22 months of that contract,

      misappropriated millions of dollars worth of CBS Radio airtime for his

      own financial benefit, and fraudulently concealed his interest in

      hundreds of millions of dollars of Sirius stock while promoting it on

      the air.

 

    * That on or about January 9, 2006, Sirius paid over 34 million shares of

      stock, valued at approximately $220 million, to Stern and his agent

      because Sirius exceeded by the end of 2005 certain subscriber targets

      that were set in the Sirius-Stern contract.  The complaint alleges that

      the Sirius-Stern contract provided that Stern was to receive this stock

      payment in 2010, but it had an acceleration provision that allowed

      Stern to receive the compensation as early as January 2006 if these

      subscriber targets were met.  All of Stern's actions for which he

      received this expedited compensation occurred during the time that

      Stern was under exclusive contract with CBS Radio, when the Sirius

      payment terms to Stern were kept secret.

 

    * This contract thus provided a compelling incentive for Stern to do all

      that he could to help Sirius reach the subscriber targets by the end of

      2005 so that he could receive his Sirius stock payment as soon as

      possible while Sirius's stock was extremely valuable.  Without the

      accelerated payment, Stern would risk the decline of the Sirius stock

      value.  By taking action on CBS Radio's airtime in 2004 and 2005, Stern

      assured himself of immediate access to $200 million in assets that

      could be readily converted to cash.

 

    * By engaging in continuous promotion of Sirius on CBS Radio airtime

      without any payment by Sirius to CBS for these advertisements and by

      pocketing over $200 million dollars for his personal benefit, Stern

      misappropriated millions of dollars worth of CBS Radio airtime for his

      own financial benefit and the financial benefit of Don Buchwald, his

      agent, and Sirius in contravention of repeated directives by CBS Radio.

 

    * That Stern also breached his contractual obligation to inform CBS Radio

      of plans that might have a bearing on his future. Under the Agreement,

      Stern had the obligation to give CBS Radio the first opportunity to

      discuss participation in radio projects that are conceived during the

      term of the Agreement, even if the concept or project was launched or

      implemented after the term. Stern ignored that responsibility, and

      negotiated and concluded his agreement with Sirius in secret.

 

    * To this day, Stern continues to breach his contract by refusing to

      return property that belongs to CBS Radio -- the recordings of his CBS

      radio program that, under his Agreement with CBS Radio, belong to the

      company.

 

The suit further charges that Sirius intentionally interfered with and procured Stern's breach of the Agreement. Sirius knew that Stern had a contractual obligation to maximize the prospects for the success of the CBS Radio program and to comply with his duty of good faith. Sirius intentionally induced and caused Stern to breach these contractual provisions by offering to accelerate Stern's payment of millions of dollars in stock options to promote Sirius on CBS airwaves and by concealing Stern's stock interest from CBS Radio.

 

The complaint in this lawsuit was filed in the Supreme Court of the State of New York, County of New York.

614528[/snapback]

[Crap Throwing Monkey]

This doesn't look good for Stern:

 

[...]

 

614528[/snapback]

 

Oops...

 

Still, he probably made enough off his Sirius interest to pay CBS back painlessly...unless the SEC goes after him for securities fraud, which, judging by CBS's suit...

 

"...and fraudulently concealed his interest in hundreds of millions of dollars of Sirius stock while promoting it on the air..."

 

...isn't out of the question.

[Lori]

"Oops" is right. Insider trading, anyone?

[eball]

Many, many, many, many years ago, I listed to Stearn for a short while and I thought he was, ocassionaly, moderately funny.  But, he shtick grows old pretty fast.  To me, he's professional wrestling.

 

I don't care that he's dirty...hell, I LOVE dirty.  I care that he's not funny.  Hell, I have 10 friends funnier than Howard. 

 

But, people like him and he gives them what they like...HooRay!  Another blow to intelligent culture in the good old USA.

614401[/snapback]

You know what? It's okay not to like Howard Stern. People have different tastes. It's decidedly uncool, however, to foster a holier-than-thou attitude implying that only certain people know what is and what is not funny, and that those who disagree are somehow less intelligent than the "chosen" few.

 

Guys like you and LABillz should know better.

[Rico]

You know what?  It's okay not to like Howard Stern.  People have different tastes.  It's decidedly uncool, however, to foster a holier-than-thou attitude implying that only certain people know what is and what is not funny, and that those who disagree are somehow less intelligent than the "chosen" few.

614556[/snapback]

They probably think Garrison Keillor is funny.

 

[Crap Throwing Monkey]

You know what?  It's okay not to like Howard Stern.  People have different tastes.  It's decidedly uncool, however, to foster a holier-than-thou attitude implying that only certain people know what is and what is not funny, and that those who disagree are somehow less intelligent than the "chosen" few.

 

Guys like you and LABillz should know better.

614556[/snapback]

 

I think we need a KTFABD ruling on this.

 

Kelly...Stern, funny or not funny?

[Bill from NYC]

  I think the fact that I hate all things NYC, I never wanted to give it a chance.

614102[/snapback]

 

Well, at least this sentence proves that you do have an open mind.

[Beerball]

But, people like him and he gives them what they like...HooRay!  Another blow to intelligent culture in the good old USA.

614401[/snapback]

Tsk tsk. So people who enjoy listening to Stern lack culture? People who like Stern cannot also appreciate the finer things in life? People who enjoy Stern cannot read/understand "THE GREAT AMERICAN NOVELS"? People who listen to Stern think that fine art is putting a frame around their velvet pool playing dogs wall art?

 

Quite the broad brush you and others are using here. You like the Bills? Must be a loser.

[BillsFanNC]

What I found out a long time ago is that I enjoy about 60-70% of the radio show.  The "Whack Pack" pranks, song parodies, skits, news items, musical guests, a decent portion of the interviews, and just the cast's general bashing of each other, are all pretty funny.  Like it or not, Howard is a very smart and funny guy.

614220[/snapback]

 

 

This right here is exactly what I find funny about the show as well.

[IDBillzFan]

Tsk tsk.   So people who enjoy listening to Stern lack culture?  People who like Stern cannot also appreciate the finer things in life?  People who enjoy Stern cannot read/understand "THE GREAT AMERICAN NOVELS"?  People who listen to Stern think that fine art is putting a frame around their velvet pool playing dogs wall art?

 

Quite the broad brush you and others are using here.  You like the Bills?  Must be a loser.

614630[/snapback]

How is it possible to walk away from Deano's comments with this impression? All he said was Stern wasn't funny and that Stern is a blow to intelligent culture, which he is. That doesn't mean we think people who listen to Stern lack intelligence. It means that whatever intelligence you have will get no exercise from Stern's thoughts, and in all likelihood, when you are done listening to him your level of intelligence will have likely suffered a blow.

 

We're not saying you guys are idiots. We're saying Stern is just not funny to us.

[CoachChuckDickerson]

How is it possible to walk away from Deano's comments with this impression? All he said was Stern wasn't funny and that Stern is a blow to intelligent culture, which he is. That doesn't mean we think people who listen to Stern lack intelligence. It means that whatever intelligence you have will get no exercise from Stern's thoughts, and in all likelihood, when you are done listening to him your level of intelligence will have likely suffered a blow.

 

We're not saying you guys are idiots. We're saying Stern is just not funny to us.

614731[/snapback]

 

So what, by your definition, is intelligent humor? Please enlighten us....

[Beerball]

How is it possible to walk away from Deano's comments with this impression? All he said was Stern wasn't funny and that Stern is a blow to intelligent culture, which he is. That doesn't mean we think people who listen to Stern lack intelligence. It means that whatever intelligence you have will get no exercise from Stern's thoughts, and in all likelihood, when you are done listening to him your level of intelligence will have likely suffered a blow.

 

We're not saying you guys are idiots. We're saying Stern is just not funny to us.

614731[/snapback]

You live in LA, ergo you are a radical liberal. Not that you're really a radical liberal, it's just that you are surrounded by radical liberals. It's not that you want it to happen, but by osmosis you are becoming more liberal every day, you can't help it. As a matter of fact, tomorrow you will walk into a head shop and buy a poster of Che. It's not your fault though, it's your surroundings.

[HopsGuy]

"Oops" is right. Insider trading, anyone?

614554[/snapback]

 

It will be hard to prove. The contention that Howard profited from "material non-public information" is not immediately apparent. Of course, if the stock deal isn't in one of the filings, then there could be some problems for the company.

 

I would think this suit will be settled. Stern certainly talked quite a bit about his move to satellite over his last 14 months. There were lots of references to other programming that would seem to violate his CBS/Infinity contract.

 

Right now the SEC is involved in a much larger issue: naked shorting. The Overstock CEO was on CNBC again this morning. This guy gets crazier every time I see him. He does, however, make some good points about naked shorting. On the other hand, his company is going down the tubes. [i have no position in either SIRI or OSTK.]

[The Dean]

They probably think Garrison Keillor is funny.

 

   

614563[/snapback]

 

 

Yes, I think GK is pretty funny. But, i can only listen to him every so often...a steady diet of him would be dreadful, IMO.

[The Dean]

You live in LA, ergo you are a radical liberal.  Not that you're really a radical liberal, it's just that you are surrounded by radical liberals.  It's not that you want it to happen, but by osmosis you are becoming more liberal every day, you can't help it.  As a matter of fact, tomorrow you will walk into a head shop and buy a poster of Che.  It's not your fault though, it's your surroundings.

614787[/snapback]

 

 

I have no idea what this means.

[The Dean]

How is it possible to walk away from Deano's comments with this impression? All he said was Stern wasn't funny and that Stern is a blow to intelligent culture, which he is. That doesn't mean we think people who listen to Stern lack intelligence. It means that whatever intelligence you have will get no exercise from Stern's thoughts, and in all likelihood, when you are done listening to him your level of intelligence will have likely suffered a blow.

 

We're not saying you guys are idiots. We're saying Stern is just not funny to us.

614731[/snapback]

 

 

Thanks, LA. I certainly never said iif you like Stern you are not intelligent. Nor did I say, or imply, that you can't like Stern and appreciate more stimulating culture. Of course, there are people who do.

 

But, I'm a self-admitted, self-appointed culture snob (to a degree...there are people who are VERY snobbish...and I take them to task, too). And, to some degree, I think I am a good judge of what's good/funny/intelligent. And I have no problem with that.

 

With that said, I think Artie Lang can be pretty funny sometimes.

[IDBillzFan]

So what, by your definition, is intelligent humor? Please enlighten us....

614754[/snapback]

Anything not from Stern, for starters. Dennis Miller is intelligent comedy. George Carlin is, or at least used to be, intelligent humor. To me, good humor requires some irony, or twisted look on an everyday thing. And again, to me, Stern is basically "pull my finger" humor. Stern is what you would get if Terrence and Phillip ever had a radio show.

 

As I have said and will continue to say to all you folks who think I'm standing in judgement of you for listening to Stern: I don't care that you listen to him, or find him funny, or think asking Buddy Hackett how big his pecker is is really good stuff. I don't care if you think a redneck singing a song about !@#$s is funny. I honestly don't care.

 

I just think he's all schtick with absolutely NO originality, which is why he has so many characters and people surrounding him. If you had to listen to him and only him during his show, he'd lose most of his audience in two weeks, if for no other reason than because the only thing he can talk about is himself.

[IDBillzFan]

You live in LA, ergo you are a radical liberal.  Not that you're really a radical liberal, it's just that you are surrounded by radical liberals.  It's not that you want it to happen, but by osmosis you are becoming more liberal every day, you can't help it.  As a matter of fact, tomorrow you will walk into a head shop and buy a poster of Che.  It's not your fault though, it's your surroundings.

614787[/snapback]

I live in Orange County. We don't allow liberals in Orange County. What we do is, we draw out the county line and cover it with fiscal responsibility and personal accountability. Once the libs get near it, they naturally run away because those two things are like kryptonite to them.