Wednesday, May 24, 2006

Settlement in Stern Suit

May 24, 2006

Satellite Standard Group is keeping you up to speed.

A SETTLEMENT HAS BEEN REACHED IN THE CBS RADIO VS. HOWARD STERN SUIT.

Via Reuters

NEW YORK, May 24 (Reuters) -

A settlement has been reached in CBS Radio's breach of contract lawsuit against radio host Howard Stern, an official in a court clerk's office in New York said on Wednesday, but both sides said no agreement had been signed.

"The only response we're authorized to give you is the settlement agreement is not yet signed. We will release a statement when it is," said the office of Peter Parcher, lawyer for Stern.

"CBS says a settlement agreement has not been signed. When it is signed, we will make an announcement," a spokesman said.

CBS Corp. (CBSa.N: Quote, Profile, Research) had filed suit accusing the raunchy radio star of improperly using his final months at CBS Radio to promote Sirius Satellite Radio Inc. (SIRI.O: Quote, Profile, Research), with whom he had signed a five-year deal valued at $500 million.