Report: Imus To Sue CBS For $40 Million
May 2, 2007 at 1:05 PM (PT)
DON IMUS is reportedly planning to sue CBS RADIO to collect the $40 million left on his contract, FORTUNE.COM reports. As ALL ACCESS previously reported (NET NEWS 4/23), IMUS has hired high-profile attorney MARTIN GARBUS.
A source told FORTUNE.COM that the suit will be based on language in the five-year contract -- which was signed in 2006 and reportedly paid him $10 million per year -- that encouraged IMUS to be confrontational and irreverent on the air. The contract also stipulated that IMUS would receive a warning before being fired, the source said.
CBS and IMUS declined to be interviewed for FORTUNE.COM's report.