Item 8.01 Other Events
Yesterday, New York State Supreme Court Judge Barbara Kapnick granted our motion
for summary judgment and dismissed with prejudice the case brought against us by
One Twelve, Inc., Howard Stern's production company, and Don Buchwald, Stern's
agent.
In March 2011, One Twelve and Buchwald commenced an action against us in the
Supreme Court of the State of New York, County of New York. The action alleged
that we failed to honor our obligations under the performance-based compensation
provisions of our prior agreement dated October 2004 with One Twelve and
Buchwald, as agent; One Twelve and Buchwald each asserted a claim of breach of
contract. The Court found the agreement unambiguous and that we had complied
with all our obligations under the agreement.
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