NEW YORK – Former CBS President and Bucknell University graduate Les Moonves will not be receiving a massive severance package from the network. CBS News reports the network corporation has found grounds to terminate Moonves “for cause” and will not pay him the $120 million severance.
This decision comes after a monthslong investigation into allegations of harassment and assault against Moonves and cultural issues throughout CBS and CBS News. Moonves was fired in September following allegations of sexual harassment, assault, and retaliation.
Bucknell has since broken all ties with Moonves and they recinded his honorary degree in October. Moonves has denied any wrongdoing and his lawyer says in a statement he has cooperated “extensively and fully” with investigators.