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ViacomCBS says ex-CBS CEO Moonves won't get $120M severance

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NEW YORK – ViacomCBS said Friday that former CBS CEO Les Moonves will not get his $120 million severance package from his firing in 2018, ending a long-running dispute over the money.

Moonves was ousted in 2018 after a company investigation into allegations of sexual misconduct spanning three decades found Moonves violated company policy and did not cooperate with the investigation.

But Moonves challenged the decision and his $120 million severance was set aside until the matter could be resolved. On Friday, New York-based ViacomCBS said in a filing with the Securities and Exchange Commission that the matter had been resolved, the arbitration dismissed, and the $120 million would be going back to ViacomCBS in its entirety.

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