"The board of CBS Corp. is in talks with Chief Executive Les Moonves about his departure from the company, according to a report by CNBC published Thursday. The talks have been going on for some time, according to the report, and would include appointing COO Joe Ianniello as interim CEO. Under Moonves's contract, he could be owed as much as $180 million in severance and a production deal, but the board is offering roughly $100 million made up of mostly CBS stock and is looking to scale back some of the compensation if Moonves is implicated in the ongoing investigation into charges of sexual harassment. The Wall Street Journal and other media outlets reported on Wednesday that CBS and its holding company National Amusements Inc. are currently in settlement talks that would put an end to their legal battle over whether the CBS board can move to dilute the voting power of National Amusements. They have been locked in litigation in Delaware Chancery Court since May."
Who gave Moonves an employment contract that would give him $180 million cash? Did CBS' lawyers all have the flu the day of the contract negotiations? No wonder they're bending over backwards trying to get the hell out of that.
Did not know that CBS was owned by a holding company named National Amusements. And somehow I doubt whether National Amusements has $180 million just lying around gathering dust.