CBS Board Offering CEO Moonves $100 Million in Stock as Exit Package: Sources

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)