Les Moonves to challenge CBS severance denial

NEW YORK (AP) — Former CBS CEO Les Moonves is fighting the company's decision to deny his $120 million severance package following his firing over sexual misconduct allegations.

CBS announced the development in a filing Wednesday with the Security Exchange Commission. CBS said Moonves has demanded binding arbitration proceedings to challenge the decision.

CBS' board of directors denied Moonves his severance after concluding that he violated company policy and was uncooperative with an investigation into sexual misconduct allegations. The ruling came after a five-month investigation into the conduct of one of television's most influential figures.