Howard Stern lost his appeal in a lawsuit against Siruis XM Radio, wherein the 59-year-old shock jock argued that the company owed him $330 million in stock options since it merged with XM Satellite Radio in 2008.
Unfortunately for Stern, a New York state appeals court upheld a 2012 ruling that tossed out his lawsuit Thursday. Howard claimed in the appeal that the radio service’s subscribers should be tallied to calculate incentives the company owes him. Stern insists that premerger subscribers should be counted when determining his stock awards.
However, the appeals court ruled that ruled that those numbers should not be counted against Sirius’ total subscriber base when measuring Stern’s compensation.
Court documents reveal Stern pocketed a whopping $25 million after the merger. But not everything is lost with Howard Stern’s estate. He is set to return as a judge for the second season of “America’s Got Talent.”
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