CBS Corporation has reached a financial settlement with talk-radio personality Don Imus, over racist remarks made about the Rutgers University women's basketball team in April.
Imus, who referred to the women as "nappy-headed ho's," was fired on April 12, shortly after making the racist comments about the women, which created uproar across the world and eventually led to discussions on decency in the media, with a focus on lyrics in Hip-Hop music.
Imus was signed to a five-year, $40 million contract with CBS, when he was terminated.
The shock-jock eventually threatened to sue CBS for $120 million for breach of contract.
According to reports, Imus received an estimated $20 million, although financial terms of the settlement were not disclosed.
Both parties agreed to refrain from disparaging each other going forward.
However, Imus is not in the clear just yet.
Kia Vaughn, the star center for the Rutgers Women's Basketball team, has filed a civil lawsuit against the 67-year-old, accusing him of libel, slander and defamation.
Also named in the lawsuit is MSNBC, CBS Radio, NBC Universal, CBS Corp., Viacom, Westwood Radio One and Imus' producer, Bernard McGuirk.
The lawsuit alleges that each party wrongfully, intentionally, willfully "created, tolerated and maintained an atmosphere in which the making of outrageous statements and comments was acceptable, encouraged, and/or rewarded for many years prior to this occurrence and/or overtly encouraged the statements made."
Vaughn seeks an undisclosed amount.
Imus is reportedly in negotiations to return to radio on WABC-AM in New York. WABC currently features talk show hosts like Rush Limbaugh and Sean Hannity.