Moonves, who has remained in charge despite the allegations against him, signed an employment contract in May 2017 that provides for a severance package worth almost $180 million if he is removed without cause.
The talks have reportedly been happenign for a while, as there has been no definite decision about his exit package.
Even more rudely, the network wants the right to take back some of that money if it turns out that Moonves committed even more sexual misconduct.
A new report from CNBC says that Moonves, who has been accused of sexual harassment by six women, and the CBS board are now negotiating a settlement, but their discussions have stalled over the issue of the his exit package.
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In July, The New Yorker published an article in which six women who had worked with Moonves between the 1980s and late 2000s alleged they had been sexually harassed by the media executive.
Inquiries to CBS were not returned at the time of publication. The report also notes that COO Joe Ianniello could be tapped as a temporary replacement. He did, however, acknowledge trying to kiss actress and writer Illeana Douglas, according to the statement provided to The New Yorker. But I always understood and respected - and abided by the principle - that "no" means 'no, ' and I have never misused my position to harm or hinder anyone's career.
"This is a precedent-setting moment for CBS-and culture at large", time's Up spokesperson wrote in a statement Thursday. Moonves opposed the deal.
The CBS board has hired two outside law firms to conduct an independent investigation into the claims against Moonves, as well as other issues throughout CBS and CBS News.