Details on Stern Settlement
May 26, 2006
Satellite Standard Group is pleased to bring you what we understand as the details surrounding the settlement of the CBS suit regarding the old tapes.
1. Sirius paid CBS $2,000,000
2. Stern now has full ownership of the tapes.
3. Sirius gets use of the tapes with no additional compensation to stern for the length of the current Stern deal.
In the opinion of Satellite Standard Group, this gives Sirius the ability to create a third Howard Stern channel full of "Classic Howard Stern". The channel would likely be very successful, and would bring in well over Sirius' $2,000,000 in terms of advertising revenue.
SSG advises investors to watch the SEC filings (8K's) of both Sirius and CBS Radio on Tuesday. Those filings will outline the official information that investors will be made aware of.
5/26/2006 03:15:00 PM
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