By David Faber
The CBS board is deep in settlement talks with CEO Les Moonves
that would result in his departure and the appointment of COO Joe
Ianniello as his interim replacement, people close to the negotiations
told CNBC.
The talks have been going on for some
time but have yet to reach a conclusion given continued back-and-forth
about his exit package, the sources said.
While under his contract
he is due as much as $180 million in severance and a production deal,
the
board is offering a roughly $100 million exit package made up almost
entirely of CBS stock, sources said.
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Source: CNBC (via Empire Report New York)
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