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Howard Stern’s $330 Million Lawsuit is Turned Down

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Howard Stern.Jewish radio personality Howard Stern has had a $330 million lawsuit filed by his production company, alleging he is entitled to money and stock options from his employer, Sirius-XM radio, dismissed by a Manhattan judge this past Tuesday, according to multiple media sources.

After signing a $400 million contract with Sirius-XM last year, Stern’s company, One Twelve, filed the lawsuit. According to Stern, Sirius-XM failed – to give himthe stock options he had allegedly earned while helping the broadcasting company secure more subscribers than expected. According to a statement released by New York State Supreme Court Justice Barbara Kapnick, Stern’s company was accounting for Sirius-XM subscribers who did not hold access to his show.

Following the merger of Sirius with XM, almost ten million new subscribers were added to the new company’s clientele. But because Sirius and XM still operate individually in terms of the services they offer subscribers, the new XM subscribers never actually gained the opportunity to listen to the “King of the Media” do his thing, the judge explained.

“While it may be true that Stern… hoped and expected to reap the benefits from any significant growth that Sirius experienced after they entered into the agreement [with Stern], that subjective expectation cannot suffice to override the clear, unambiguous language of the agreement,” Kapnick wrote, according to the New York Post.

The decision was made on Monday. Stern gave his reaction to the news in the form of a Twitter posting.

“Howard is really bummed that a judge has dismissed his lawsuit against Sirius,” read the message posted on “The Howard Stern Show” feed. “He plans on appealing.”

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