CBS board discussing Moonves exit, a clearer way for a sale

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As reported by CNBC, citing people familiar with the negotiations, the exit package will be made up nearly entirely of CBS stock.

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

Media company CBS's board has reportedly offered chief executive officer Les Moonves a US$100 million exit package.

The CBS board is offering Moonves an exit package worth about $100 million, made up mostly of CBS stock, CNBC reported Thursday.

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.

These discussions are occurring as the company and its controlling shareholder Shari Redstone and National Amusements Inc are also hammering out a settlement to a legal dispute over the control of CBS.

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FBN's Charlie Gasparino discusses how CBS CEO Les Moonves is negotiating his exit from the company.

If Moonves does soon leave the company, he would be replaced by COO Joe Ianniello in the interim, CNBC reported.

CBS did not immediately respond to an AFP request to comment.

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. Moonves is "entirely recused" from the investigation, the statement from the board said. "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".

CBS in August said it had retained two law firms and the board had set up a special committee to probe the allegations.

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