A360 Media Ordered to Pay Former CEO $405,849 in Severance Row

A360 Media LLC owes former Bauer Media Group CEO Steven Kotok $405,849 in severance, less than a quarter of what he sought, to resolve a dispute stemming from the company’s 2022 acquisition.

That amount—not the nearly $1.8 million Kotok sought—is proper compensation under the employment agreement Kotok and Bauer signed in 2016, Judge Jamel K. Semper of the US District Court for the District of New Jersey said in a nonprecedential opinion made public Thursday.

Although the agreement was ambiguous, outside evidence such as negotiation history showed this award amount is appropriate, the judge said.

Shortly after A360 acquired Bauer, ...