ViacomCBS keeps $120 million after arbitration with former CEO Les Moonves
CBSN
ViacomCBS disclosed Friday that it had settled a long-running dispute with former CEO Les Moonves, and says that it will keep $120 million in severance that it withheld from Moonves when his employment was terminated in 2018.
"The disputes between Mr. Moonves and CBS have now been resolved, and on May 14, 2021, the parties dismissed the arbitration proceeding. The assets of the grantor trust will revert to the Company in their entirety," the company said in a filing with the Securities & Exchange Commission. Moonves' employment was terminated on September 9, 2018 following multiple allegations of sexual assault or misconduct. Moonves denied the claims. On December 17, the board released a statement that said Moonves had breached his employment contract and would not receive a severance package valued at $120 million following the completion of a months-long investigation.Two climbers were waiting to be rescued near the peak of Denali, a colossal mountain that towers over miles of vast tundra in southern Alaska, officials said Wednesday. Originally part of a three-person team that became stranded near the top of the mountain, the climbers put out a distress call more than 30 hours earlier suggesting they were hypothermic and unable to descend on their own, according to the National Park Service.
There's no making up for what Olympic hurdler Lashinda Demus lost on the day she finished .07 seconds behind a Russian opponent who, everyone later learned, was doping. What the American 400-meter hurdles champion will finally receive is a great day under the Eiffel Tower where she'll be presented with the gold medal she was denied 12 years ago at the London Olympics.