According to the Indy Business-Journal, Emmis officials confirmed the settlement Wednesday but declined to disclose terms of the agreement or comment on the matter. The company had been seeking $5 million.
Alexander was a highly popular host of the morning show on Emmis-owned radio station KPWR-FM "Power 106" in Los Angeles. He was with the station for more than 20 years before suddenly leaving a year ago to join a rival L.A. station operated by iHeartMedia.
Power 106’s ratings sank dramatically after Alexander’s departure, from fifth overall in the market to 16th by the end of the year.
According to Emmis, Alexander's contract had a “right of first refusal” provision that allowed the company to match an offer from a competitor.
In mid-January, Alexander provided Emmis with a copy of an offer from iHeartMedia that would provide him an annual salary of $3.5 million, along with other benefits.
Other benefits included four weeks of vacation and “personal, private jet transportation two times a year for domestic travel, including Hawaii.”
Emmis said it matched the offer, but Alexander decided to leave anyway. The company sought to block the move with its suit, but was unsuccessful. He began a competing morning show on Urban KRRL-FM Real 92.3 in March.