Paramount and former CBS chief executive Les Moonves will pay $9.75 million to shareholders to put to bed the New York AG s probe into sexual misconduct allegations.
Les Moonves will NOT receive $120M exit package from ViacomCBS as the ousted CEO drops his legal battle over 2018 firing amid sexual misconduct allegations
ViacomCBS said Friday the long-running dispute with its former CEO has been resolved and Moonves has agreed to walk away from the severance package
The $120 million, which had been held in a trust, will be returned to ViacomCBS
The ousted TV boss is receiving some form of settlement though the amount and terms have not been revealed; he is donating it to charity
Moonves was ousted from CBS in 2018 amid allegations of sexual misconduct and harassment from multiple women spanning three decades
CBS is forced to pay tens of millions of dollars to actress Bobbie Phillips after its lawyers leaked details of Les Moonves alleged sex attack on her to The New York Times
The network had hired two law firms - Debevoise & Plimpton and Covington & Burling - to probe Moonves after he was accused of assaulting several women
A number spoke to the lawyers in summer 2018 on the promise of confidentiality
But, just months later in December 2018, a draft report into their findings and the allegations leveled against Moonves was leaked to The New York Times
It s now been reported by Vanity Fair that that breach of confidentiality cost CBS and Covington tens of millions in a settlement paid to accuser Bobbie Phillips