Published: Tuesday, March 22, 2011, 2:31 PM ��� Updated: Tuesday, March 22, 2011, 2:46 PM
TMZ reports that Howard Stern's manager and production company are suing SiriusXM, the satellite radio company he works for.
Reason? The suit, filed in New York and seeking unspecified damages, alleges that the shock jock was cheated out of stock awards promised to him by the company.
It claims that Sirius wooed Stern to sign with them by offering him a share "in any success that the company achieved." The suit further claims that once the radio company bested (and ultimately merged with) primary rival XM, the company brass decided that Stern had been compensated enough.
Subscriber estimates on which Stern's stock bonuses were to be based ranged from 3.7 million in 2006 to 12.1 million in 2010. Now just about 20 million subscribers strong, the suit maintains that "Sirius needed Stern more than Stern needed Sirius."
Calls by TMZ to Sirius were not returned. Should be interesting to see if Stern addresses the situation on his show.
Other Howard Stern links:
Is Howard Stern taking his show to iTunes?
Howard Stern signs 5-year deal with Sirius XM Radio
A Howard Stern moment for the ages
Howard Stern says he almost quit on 'Piers Morgan Tonight' (watch the videos)
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