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>> CBS said on Monday it will pay $120 million in severance to former CEO Leslie Moonves. That's only if an internal investigation into claims of sexual misconduct does not dig up grounds for his dismissal.>> It's unclear what the exact criteria to Moonves getting the $120 million in severance will be.
The process is opaque. It's private, there's no leaks about the investigation.>> Lee says an extra $20 million of Moonves was supposed to get has been ear marked for Me Too advocacy. Moonves resigned Sunday, just hours after The New Yorker published another report detailing claims by six additional women against the 68 year old.
Including allegations of forced sex, physical violence, and intimidation. This followed similar claims from six other women in a New Yorker expose from late July. In the announcement of his resignation, Moonves said, untrue allegations from decades ago are now being made against me that are not consistent with who I am.
His exit clouds the future of CBS which had been suing majority shareholder Sherry Redstone for control of the company. But the parent company she owns, National Amusement, said Monday, it would no longer fight it out in court and agreed to not propose a merger between CBS and Viacom for two years.
Lee says one big question on peoples' minds is whether the Moonves probe and the NAI settlements are linked.>> One side will say Moonves is resigning and they're settling, and that those two issues are linked. The other side would dispute that. They would say that these are two parallel things and in fact Moonves does not have the exact terms of his severance laid out.
It is still pending the investigation, he can still get nothing. That's a very important point.>> In the meantime, Chief Operating Officer Joe Ianniello will take over as interim CEO, as the board searches for a replacement of Moonves.