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CBS gives $20M in Moonves severance to anti-harassment groups

Dec. 14, 2018 11:28 AM ETParamount Global (PARA) StockBy: Jason Aycock, SA News Editor1 Comment
  • CBS is giving $20M to 18 organizations to support eliminating sexual harassment in the workplace -- money that by arrangement is coming out of former CEO/Chairman Les Moonves' severance benefits.
  • Two of the organizations are getting part of that grant to re-disburse it to a number of smaller organizations.
  • "This grant announcement is part of the Company's separation agreement with the company's former chief executive officer, which states the donation was deducted from any severance benefits that may be due to him," CBS says in a statement.
  • Moonves' severance is a hot topic at CBS, with a full report coming next month on a companywide investigation that could end up costing Moonves up to $120M in exit funds.
  • Shares are up 0.7%.

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