Don Imus by Chip East/Reuters Don Imus by Chip East/Reuters

CBS has reached a settlement on a breach-of-contract dispute with radio personality Don Imus, who was fired on April 12 for making racist and sexist remarks about the Rutgers University women's basketball team on his nationally syndicated program. NBC News, which aired Imus in the Morning on cable network MSNBC, dropped the show as well.

Terms of the settlement were not disclosed, but one company insider said Imus received less then half of the value of his five-year, $40-million contract, which he'd signed shortly before his dismissal. He had threatened to sue CBS Radio for $120 million. The settlement also frees Imus to pursue on-air work with another broadcast outlet.
- Reporting by Stephen Battaglio