CBS Denies Former CEO Les Moonves $120 Million Severance Package

CBS announced on Monday it will not pay out a controversial $120 million severance package to former CEO Leslie Moonves. The company said it had ample reason to fire the disgraced executive for cause.

The network explained its decision, saying “there are grounds to terminate for cause, including his willful and material misfeasance” and failure to cooperate with the company’s investigation.

(Image credit: Gabe Ginsberg/Getty Images for Showtime)