Les Moonves, CBS reportedly begin settlement talks

Roman Schwartz
September 9, 2018

The talks between Moonves and his board have been going on for some time but have yet to reach a conclusion given continued back and forth about his exit package. Under that arrangement, Moonves, remarkably, would be forfeiting approximately $80 million in compensation which he would reportedly be owed as part of a severance package and a production deal.

The New York Times is reporting that embattled CBS boss Leslie Moonves is negotiating an exit from the network he has overseen for the past two decades.

Six women accused Moonves of sexual misconduct in a lengthy article in The New Yorker, which also suggested how the company maintains a testosterone-fueled culture where "everything feels old, the people, the furniture, the culture, the mores". He did, however, acknowledge trying to kiss actress and writer Illeana Douglas, according to the statement provided to The New Yorker.

CBS declined to comment to CNBC and did not immediately respond to a request for comment from Business Insider.

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If Moonves does soon leave the company, he would be replaced by COO Joe Ianniello in the interim, CNBC reported. But I always understood and respected - and abided by the principle - that "no" means 'no, ' and I have never misused my position to harm or hinder anyone's career.

Moonves, who orchestrated CBS's revival into a ratings victor, is one of the most powerful American men implicated in the #MeToo era that ignited almost a year ago with the career implosion of Harvey Weinstein.

A former actor, Moonves went on to become one of the most powerful men in the industry after resuscitating CBS. Since then, dozens of other women have come forward with similar claims and CBS has launched an internal investigation.

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