If sexual harassment allegations against Moonves are confirmed, the company would likely seek to claw back even more compensation. The 68-year-old executive is reportedly due almost $180 million in severance and a production deal under his current contract.
Moonves's potential departure comes amid sexual assault allegations against him - and as CBS faces a legal dispute regarding control of the company. He did, however, acknowledge trying to kiss actress and writer Illeana Douglas, according to the statement provided to The New Yorker.
The settlement talks would see Moonves replaced by COO Joseph Ianniello on an interim basis and offered a roughly $100 million exit package made up nearly entirely of CBS stock, CNBC reported. "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", he said in a statement to The New Yorker. CBS, led by Moonves, has opposed the move.
"This is a time when we all are appropriately focused on how we help improve our society, and we at CBS are committed to being part of the solution".
The US television giant has been the focus of an ongoing legal battle between the Redstone family and the board, chaired by Moonves.
The law firms will also look into other allegations that the culture at CBS and CBS News tolerated abusive behaviour.
CBS did not immediately respond to an AFP request to comment.