CBS Board Say Les Moonves Will Not Receive $120 Million Severance

The board of directors for CBS Corp. said Monday it found grounds to terminate ousted CEO Leslie Moonves "for cause" and will not pay out a severance package worth $120 million. In a statement, the board said it made its decision following the completion of a monthslong investigation into allegations of harassment and assault against Moonves and cultural issues throughout CBS and CBS News.