Poor Les Moonves may only get $100 million to leave CBS

CBS Corp. and Shari Redstone near settlement of legal dispute, discuss exit for CEO Les Moonves

CBS Corp. and Shari Redstone near settlement of legal dispute, discuss exit for CEO Les Moonves

Time's Up's statement follows reports Wednesday and Thursday that CBS and parent company National Amusements are negotiating an end to their legal battle over control of the media company - one that could see Moonves step down as CEO.

Moonves faces allegations of sexual harassment from six different women over a period of several years, with dozens more alleging other abuses.

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. (After all, he wouldn't have to leave if it weren't for that pesky Ronan Farrow!) An agreement supposedly entitles him to as much as $180 million in severance and "a production deal" (guessing sob story rights?) if the board chose to dismiss him for, like, no good reason.

Les Moonves may have to leave CBS with only $100 million.

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

FILE PHOTO: CEO of CBS Corp, Leslie Moonves, waves on the first day of the annual Allen and Co. media conference in Sun Valley, Idaho, U.S., July 8, 2015.

CBS in August said it had retained two law firms and the board had set up a special committee to probe the allegations. Moonves is "entirely recused" from the investigation, the statement from the board said.

CBS could not be immediately reached for comment.

According to a filing from CBS in April, if Moonves is terminated for cause, or in the event of resignation without "good reason", no incremental payments and benefits would be made.

Even more rudely, the network wants the right to take back some of that money if it turns out that Moonves committed even more sexual misconduct.

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