Jonathan Jacoby, analyst for Bank of America and arguably one of the most respected analysts in the satellite radio industry, wrote in this week's report that punitive damages from the CBS Radio lawsuit seem unliklely. Now, keep in mind that they are not lawyers and there's always the possibility that CBS may succeed with the lawsuit or get a settlement.

"However, our legal contacts inform us that it could be challenging for CBS Radio to win punitive damages from Sirius in this case given the relatively high standards for such awards under New York State law," said Jacoby in the report.

Apparently, in order for punitive damages to be awarded, two key things must be found:

1. That Sirius Satellite Radio demonstrated a "high degree of moral culpability so flagrant as to transcend simple carelessness" AND
2. That Sirius caused a "public interest harm" in that the general public (not just CBS Radio) was somehow harmed by Sirius’ actions.

Very interesting.