Moonves and CBS will donate $20 million to "one or more organizations that support the #MeToo movement and equality for women in the workplace", according to the CBS statement. Some of the women say Moonves retaliated against them and that their careers suffered after they rebuffed his advances.
Moonves had almost $70 million in earnings past year, and CBS has held the top spot in network ratings for a decade under his leadership. Leslie Moonves attends CBS' 2015 Summer TCA party at the Pacific Design Center on August 10, 2015 in West Hollywood, California.
Moonves, who orchestrated CBS's revival into a ratings victor, had been one of the most respected executives in Hollywood until he was accused in late July of inappropriate behavior stretching back decades.
"CBS, as you sit in a room debating next steps to rectify the damage done, remember that the world is watching", the statement continued.
She claims the incidents took place in the 1980s when she was a highly placed entertainment industry executive but still, she has written, subservient to the men in positions of power.
The board wants conditions to recover some of the money if the allegations are confirmed, CNBC reported, though it is not clear whether there were conditions for a similar clawback if more accusers stepped forward.
The accusations in the second story are even more serious.
The allegations come about six weeks after Farrow published his first New Yorker expose on Moonves on July 27.
"The appalling accusations in this article are untrue", Moonves said.
In addition, Farrow found complaints from several female masseuses at the Four Seasons Hotel who claimed that Moonves repeatedly exposed himself to them and tried to solicit sexual encounters. She wrote years after, when she chose to leave Hollywood for the rough and tumble classrooms of LA, "As an executive in the entertainment industry in the days when women were few and not particularly endeared by the powerful, I learned to be strong and tough".
CBS and controlling shareholder National Amusements Inc could not immediately be reached for comment on Sunday.
"It was quite a few times that those women would come back and say, 'I'm never going up there again, ' " Debra Williams, who was then spa director, tells Farrow, adding that a hotel official warned Moonves to stop the behavior. Discussions had focused on the size of a severance package, and on whether Moonves would move to a producer role, the Times reported.
CBS has negotiated an estimated US$100 million settlement with Moonves, sources said. As a result of Farrow's article, more women are coming out of the woodwork to share their experiences of harassment, intimidation, and assault at the hands of the executive.
Leslie Moonves has cited "untrue allegations" about his behavior in his parting statement following his forced resignation on Sunday from CBS Corp., the company he has steered for almost 25 years.
"I definitely think he should resign, and I don't think he should get $100 million to resign", said Linda Silverthorn, who accused Moonves of unwanted sexual advances in the New Yorker article.