Some good news for Cumulus Media as it haggles with creditors in a New York bankruptcy courthouse. A federal court in Texas has ordered syndicated radio host Michael Baisden to pay the radio company a total of $1.869 million to settle a complaint Cumulus brought against the host to retrieve money it overpaid him from 2012-2013. The final judgment issued by U.S District Court for the Northern District of Texas in Dallas is a harsh rebuke of efforts by Baisden to get a judge to order either a new trial or issue a judgment in his favor.
Here’s how the court came up with the grand total of $1,869,054.79: $700,000 in compensatory damages; $169,054.79 in prejudgment interest at an annual rate of 5% from Aug. 28, 2013-Dec. 28, 2017; and $1,000,000 in exemplary damages.
Cumulus sued Baisden in 2014 after it discovered that it mistakenly overpaid $1 million to Baisden between June 2012 and March 2013 when he was on its payroll. Baisden refused to give the money back, arguing his contract didn’t include any provisions for refunding overpayments. But a jury decided in July 2017 that the host should return $800,000 to the company. Feeling shortchanged – Cumulus claimed it overpaid Baisden by $1 million – the company asked a federal judge in Dallas to boost the size of its monetary victory over Baisden by nearly $900,000 above what the jury ordered the host to return to his former syndicator. Read the story in InsideRadio.com