Thursday, claiming that the network owed him up to $70 million in cash and equity compensation after his termination last week. TMZ was first to report the news.
Olbermann, who sued for breach of contract, was fired from Current TV last Friday, just one year into his five year $50 million contract.
Olbermann cited a list of complaints in the lawsuit including the network broadcasting ads containing his image without his permission; refusing to invest resources in his show; using his name to endorse third party services; and disclosing confidential terms of his contract to the press. The lawsuit also states that "Olbermann was disheartened to discover Al Gore, Joel Hyatt, and the management of Current are no more than dilettantes portraying entertainment industry executives."
Network co-founders Al Gore and Joel Hyatt released a statement announcing Olbermann's exit last week, stating that their relationship with the broadcaster no longer reflected their core values of "respect, openness, collegiality, and loyalty." They also announced Olbermann's immediate replacement, former New York Gov. Eliot Spitzer.
