Howard Stern's $300M Sirius Suit Thrown Out

King of All Media sued last March seeking a huge bonus

Tuesday, Apr 17, 2012  |  Updated 3:00 PM EDT
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Simon Cowell: Howard Stern "Doesn't Come Cheap"

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A court judge has ruled against the King of All Media.

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Simon Cowell: Howard Stern "Doesn't Come Cheap"

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Howard Stern's hopes for a $300 million payday from Sirius XM were dashed when a New York state court judge Monday dismissed his suit "with prejudice," which means he can't bring another suit based on the same set of facts.

According to his show's Twitter feed, the shock jock was "really bummed" by the decision, and he plans to appeal.

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 percent.

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