The Time’s Up groups, which have been critical of disgraced Moonves, will receive a combined $2 million of the sum, according to a separate press release from the organization Friday. The funds will be used in part to launch an initiative called “Who’s in the Room,” aimed at increasing female representation in the entertainment industry.
The funds to all the groups will be distributed within 60 days of execution of the agreement, according to a person familiar with the arrangement. The amount each group will receive was based on their proposal and “capacity to absorb funds relative to their annual budgets.”
While Moonves was not involved in selecting the groups, his attorney had to approve the decision, according to a second person familiar with the process. Rally, an issue-driven communications firm, worked with CBS management to select the groups that fell within three buckets: pipeline and leadership development; training, education and culture change; and victim’s support, according to an internal memo from Laurie Rosenfield, CBS’ recently appointed chief people officer.
In a joint statement Friday, the groups said: “Our organizations serve on the front lines of this effort every day, and we continue to see enormous need for our work. We know these funds will help us create and expand a range of important programs that advance our collective mission and help many individuals get justice.” They thanked CBS for the donations, and added, “We also recognize these funds are not a panacea, nor do they erase or absolve decades of bad behavior.”
The donation comes out of Moonves’ potential multi-million-dollar exit package, the fate of which has not yet been determined. When Moonves left CBS, the board placed his severance payout in legal limbo while an investigation was conducted to determine whether his actions were in breach of the company’s sexual harassment policies.