UPDATE 3-"Shock jock" Stern lawsuit vs Sirius XM thrown out - Chicago Tribune

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Reuters

5:37 p.m. CDT, April 17, 2012

* Judge says Stern bound by language in contract

* Stern, agent could have recovered $330 million more

By Jonathan Stempel and Karen Freifeld

April 17 (Reuters) - A judge has dismissed radio personality
Howard Stern's $330 million lawsuit accusing Sirius XM Radio Inc
of failing to pay him stock awards he was due for
helping the dominant U.S. satellite radio company exceed growth
targets.

New York State Supreme Court Justice Barbara Kapnick in
Manhattan said Stern and his agent Don Buchwald were bound by
the language of the 2004 agreement that brought the now
58-year-old "shock jock" to what became Sirius XM from
traditional radio.

The case centered on whether to count subscribers of the
former XM Satellite Radio Inc, which Sirius bought in 2008, to
help determine performance-based awards for Stern's production
company, One Twelve Inc, and fees for Buchwald. Kapnick agreed
with Sirius that XM subscribers should not be counted.

"While it may be true that Stern and Buchwald hoped and