Former CBS CEO denied severance.

Les Moonves is down about $120 million, thanks to the CBS Board of Directors. The Board made the decision that Mr. Moonves was fired for cause—“willful and material malfeasance, violation of Company policies, and breach of his employment contract, as well as his willful failure to cooperate fully with the Companies investigation”—and as a result, “Mr. Moonves will not receive any severance payment from the Company.”