Clear Channel, Stern End Suits

Clear Channel Communications Inc., the biggest U.S. radio broadcaster, and Howard Stern agreed to dismiss their lawsuits over the company’s decision to drop the shock jock’s show to prevent the airing of indecent content.

San Antonio-based Clear Channel announced the settlement Wednesday but did not disclose financial terms.

Stern, a host on Viacom Inc.-owned stations, is moving next year to satellite broadcaster Sirius Satellite Radio Inc. to avoid the purview of the Federal Communications Commission.

Clear Channel removed Stern’s show last year in six cities after announcing a policy to curb the broadcast of sexually explicit and other indecent material. Stern, the host of the top-rated show for young men in New York and Los Angeles, has generated more than $2 million in regulatory fines for airing indecent material.

“We are pleased to resolve this contractual dispute with Howard Stern without further legal expense and delay,” said Andrew Levin, Clear Channel’s executive vice president and chief legal officer.

Viacom’s Infinity Broadcasting and Stern’s own company, One Twelve Inc., sued Clear Channel last year, seeking $10 million in damages. A call to Infinity spokeswoman Karen Mateo wasn’t returned.

Stern, 51, in October announced that he would leave Viacom for a five-year agreement with Sirius that starts Jan. 1, 2006. Sirius, like cable television networks such as Time Warner Inc.’s HBO, can feature more risque content because they aren’t subject to the same FCC rules as broadcast stations.

Clear Channel shares rose 25 cents Wednesday to $33.90 in New York Stock Exchange trading while Viacom’s Class B shares rose 14 cents to $35.81. Shares of Sirius rose 6 cents to $5.62 in Nasdaq trading.