CBS Sets Moonves Payoff at $120 Million Pending Probe

CBS Sets Moonves Payoff at $120 Million Pending Probe
Leslie Moonves, Chairman and CEO, CBS Corporation, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 3, 2017. Reuters/Lucy Nicholson
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CBS Corp. said on Sept. 10 it will pay $120 million to former CEO Leslie Moonves if an internal investigation into allegations of harassment fails to provide grounds for his dismissal.

Moonves, who turned CBS from an aging radio and TV broadcaster into a successful provider of shows to digital platforms, had been expected to reap an estimated $100 million in severance.