Moonves to challenge severance denial

NEW YORK -- 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 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.

Moonves was ousted in September after allegations from women who said he subjected them to mistreatment including forced oral sex, groping and retaliation if they resisted.

A lawyer for Moonves declined to comment Thursday.