NEW YORK—CBS announced on Dec. 17 that former CEO Les Moonves will not receive his $120 million severance package after the board of directors concluded he violated company policy and was uncooperative with an investigation into sexual misconduct allegations.
The decision, which came after a five-month outside investigation, capped the downfall of one of television’s most influential figures, the biggest entertainment powerbroker to see his career derailed amid the #MeToo movement against sexual misconduct.
