Report: Stern, CBS "Very Close" To Settlement
May 11, 2006 at 7:42 AM (PT)
Are CBS and HOWARD STERN close to a settlement of CBS' suit against its former star?
ASSOCIATED PRESS reports that a lawyer for CBS CORP., IRVIN NATHAN, told Judicial Hearing Officer IRA GAMMERMAN on WEDNESDAY that "we have an agreement, but there are details that have to be worked out" and that STERN and CBS are "very close" to a deal. No terms of the proposed settlement were revealed, although STERN's lawyer PETER PARCHER confirmed NATHAN's characterization of the situation.
CBS sued STERN in FEBRUARY alleging breach of contract for promoting his move to SIRIUS SATELLITE RADIO on CBS air while having an undisclosed financial interest in increasing SIRIUS subscriptions prior to joining that company in JANUARY.