UNITED STATES
The Wrap
January 17, 2019
By Jennifer Maas and Tony Maglio
Former CBS chief Les Moonves will be pursuing arbitration to fight CBS for the $120 million severance pay he was denied last month when he was fired by the board of directors for cause.
In a Securities and Exchange Commission filing on Thursday, CBS stated that Moonves has informed the company of his plan: “On January 16, 2019, Mr. Moonves notified the Company of his election to demand binding arbitration with respect to this matter. The Company does not intend to comment further on this matter during the pendency of the arbitration proceedings.”
The investigation into Moonves — who was ousted in September, after multiple women came forward with sexual misconduct accusations — concluded Dec. 17, with the CBS board announcing at that time the former chairman and CEO “will not receive any severance payment.”
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