00:00Following CBS's internal investigation of sexual misconduct allegations against Les Moonves,
00:06the former CEO won't receive $120 million in severance from the network.
00:11The statement reads,
00:12With regard to Mr. Moonves, we have determined that there are grounds to terminate for cause,
00:17including his willful and material misfeasance, violation of company policies,
00:22and breach of his employment contract, as well as his willful failure to cooperate fully with the company's investigation.
00:28Mr. Moonves will not receive any severance payment from the company.
00:32According to Insider, CBS hired an investigative team that interviewed as many as 300 people
00:38in order to get to the bottom of the allegations against Moonves
00:41after Ronan Farrow listed a half-dozen accusers in The New Yorker on July 27.
00:47Moonves denied any allegations of non-consensual sex.
00:51Moonves stepped down as CEO in September.
00:53The original separation agreement between Moonves and CBS stipulated he only get the $120 million
00:58if an investigation cleared him of egregious behavior.
01:02For the latest details on the former CEO and all of his drama, head on over to THR.com.
01:07For THR News, I'm Adam Havner.
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