June 21, 2021

Leslie Moonves Receives Nothing From CBS Exit Package

On Friday, the matter came to a resolution nearly three years after it had begun, according to a filing with the Securities and Exchange Commission. “The assets of the grantor trust will revert to the company in their entirety,” it said.

The filing came from ViacomCBS. Mr. Moonves’s previous employer merged with a sibling company, Viacom, in December 2019, after protracted negotiations. Mr. Moonves adamantly opposed the merger plan when he was at the helm of CBS.

“The disputes between Mr. Moonves and CBS have now been resolved,” ViacomCBS said in a statement on Friday.

The company and Mr. Moonves also released a joint statement saying that Mr. Moonves had received money as part of a private settlement with a contractor that had been hired by CBS. The statement did not identify the contractor and added that Mr. Moonves would give all of that money to charity.

Mr. Moonves, 71, was one of the most prominent figures to be toppled by the #MeToo movement. Other powerful men in the media and entertainment businesses whose careers came to an end after they were accused of sexual misconduct included the Fox News chief executive Roger E. Ailes and the film mogul Harvey Weinstein. Mr. Ailes died in 2017, months after leaving the network he had helped create, and Mr. Weinstein fell from power in 2017 and was sentenced last year to 23 years in prison for sex crimes against six women.

Article source: https://www.nytimes.com/2021/05/14/business/media/leslie-moonves-cbs-severance.html

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