CBS Corp. said on Monday that it would pay $120 million to former Chief Executive Officer 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.
CBS said in a regulatory filing that it and Moonves in addition would donate $20 million to organizations supporting the #MeToo movement.