LOS ANGELES, Calif. – Howard Stern’s hopes for a $300 million payday from Sirius XM have been dashed by a judge. According to his show’s Twitter feed, the shock jock was “really bummed” by the decision, and he plans to appeal.
Monday’s judgment by a New York state court judge dismissed Stern’s suit “with prejudice,” which means he can’t bring another suit based on the same set of facts.
Stern sued last March seeking a huge bonus, arguing that the number of Sirius subscribers exceeded the company’s internal forecasts. But his initial job contract was signed before Sirius merged with XM in July 2008.
The judge ruled that Stern couldn’t count XM’s nearly 10 million subscribers in calculating his bonus.
Sirius XM Radio Inc.’s stock rose nearly 3 per cent.