Les Moonves’ Potential $100M CBS Payout Slammed By Time’s Up

Daniel Fowler
September 9, 2018

The talks have reportedly been happenign for a while, as there has been no definite decision about his exit package.

However, in July, the New Yorker's Ronan Farrow published an article that detailed allegations by six women against Moonves who claim they were sexually harassed and intimidated by Moonves.

The board of U.S. television giant CBS is negotiating a multi-million-dollar exit for CEO Leslie Moonves, accused of sexual misconduct by at least six women, USA media reported Thursday.

The settlement talks would see Moonves replaced by COO Joseph Ianniello on an interim basis and offered a roughly $100 million exit package made up nearly entirely of CBS stock, CNBC reported.

Les Moonves may not have much time left at CBS.

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Bobbitt's campaign had over 14,000 donors and began in November, so most donors would no longer be qualified by 30-day policy. Christopher Fallon, one of Bobbitt's attorneys, estimated during the court hearing that more than $250,000 should be left.

The report also notes that COO Joe Ianniello could be tapped as a temporary replacement.

That investigation is ongoing and could impact Moonves' severance, the sources said. CBS, led by Moonves, has opposed the move.

CBS declined to comment to CNBC and did not immediately respond to a request for comment from Business Insider. CBS and controlling shareholder Sumner and Shari Redstone's National Amusements are negotiationg the settlement to end a legal case about whether CBS can "dilute the voting power of NAI".

One of the definitions for "cause" include "willful and material violation of any Company policy that is generally applicable to all employees or officers of the Company, including, but not limited to, policies concerning insider trading or sexual harassment", according to the filing.

"He had earlier said he "may have made some women uncomfortable by making advances", which he called mistakes that he regretted immensely, but that he understood "'no" means "no"' and had never used his position to harm anyone's career.

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