Les Moonves Forgoes $120M Severance In ViacomCBS Deal

Law360 (May 14, 2021, 11:05 PM EDT) -- ViacomCBS announced Friday that the media conglomerate has resolved its dispute with ex-CBS Corp. Chairman and CEO Leslie Moonves, although the former executive will not be receiving his $120 million severance package.

Moonves resigned from the company in 2018 amid sexual misconduct allegations from multiple women.

At the time, CBS and Moonves inked a separation agreement placing his $120 million severance in a grantor trust pending the results of an investigation by Covington & Burling LLP and Debevoise & Plimpton LLP. The agreement also let Moonves challenge the firms' findings in binding arbitration.

In a Friday filing with the U.S. Securities and Exchange Commission,...

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