Sirius Pays CBS $2 Mil. to Settle Suit

NEW YORK Howard Stern and CBS Corp. today said they had reached a settlement in a breach-of-contract lawsuit brought by the CBS Radio unit against the radio shock jock.

As part of the settlement, CBS Radio will receive $2 million in payments from Sirius Satellite Radio for CBS’ broadcast recordings of The Howard Stern Show. No other terms and conditions were disclosed.

CBS, which filed the lawsuit in February, charged that Stern had not returned recordings of his CBS radio program that under his agreement belong to the company.

The suit also charged that Stern improperly used his morning show on CBS’ radio stations to promote his January move to Sirius Satellite Radio.