CBS Corp. has reached a legal settlement with Howard Stern, his agent and Sirius Satellite Radio.
Although few details were released, the Hollywood Reporter has reported that Sirius would pay $2 million to CBS radio, “relating to the conveyance of its rights in the recordings of “The Howard Stern Show,” according to a joint statement.
The size of payments that Stern and his agent Don Buchwald must make to CBS were not revealed.
Stern and Sirius will now receive access to the Stern radio show’s content library as part of the settlement.
CBS sued Stern, his company One Twelve Inc., Buchwald and Sirius, seeking unspecified damages for breach of contract, fraud, unjust enrichment and misuse of CBS broadcast time.
CBS claimed Stern had used his on-air time to promote his new show on Sirius in the months before he left CBS in order to boost Sirius subscriptions which earned him stock options that were then worth $220 million.
