PHOTO: Mike Windle/Getty Images for Venice Family Clinic
Now playing
00:31
Ex-CBS chief will not get $120 million severance
PHOTO: "The Late Late Show with James Corden" / Youtube
Now playing
01:37
See Prince Harry and James Corden tour LA on open-air bus
PHOTO: CBS
Now playing
02:23
What Tiger Woods said about the Masters just days ago
NEW YORK, NY - JULY 23: New York Gov. Andrew Cuomo speaks during the daily media briefing at the Office of the Governor of the State of New York on July 23, 2020 in New York City. The Governor said the state liquor authority has suspended 27 bar and restaurant alcohol licenses for violations of social distancing rules as public officials try to keep the coronavirus outbreak under control. (Photo by Jeenah Moon/Getty Images)
PHOTO: Jeenah Moon/Getty Images
NEW YORK, NY - JULY 23: New York Gov. Andrew Cuomo speaks during the daily media briefing at the Office of the Governor of the State of New York on July 23, 2020 in New York City. The Governor said the state liquor authority has suspended 27 bar and restaurant alcohol licenses for violations of social distancing rules as public officials try to keep the coronavirus outbreak under control. (Photo by Jeenah Moon/Getty Images)
Now playing
02:22
Gov. Cuomo attacks media amid nursing home scandal
WASHINGTON, DC - JANUARY 15: MyPillow CEO Mike Lindell waits outside the West Wing of the White House before entering on January 15, 2021 in Washington, DC. (Photo by Drew Angerer/Getty Images)
PHOTO: Drew Angerer/Getty Images
WASHINGTON, DC - JANUARY 15: MyPillow CEO Mike Lindell waits outside the West Wing of the White House before entering on January 15, 2021 in Washington, DC. (Photo by Drew Angerer/Getty Images)
Now playing
00:39
MyPillow and its CEO Mike Lindell sued by Dominion
Now playing
03:52
Stelter: Power plants failed. Fox News blamed windmills
Radio talk show host and conservative commentator Rush Limbaugh speaks at "An Evenining With Rush Limbaugh" event May 3, 2007 in Novi, Michigan. The event was sponsored by WJR radio station as part of their 85th birthday celebration festivities. (Photo by Bill Pugliano/Getty Images)
PHOTO: Bill Pugliano/Getty Images
Radio talk show host and conservative commentator Rush Limbaugh speaks at "An Evenining With Rush Limbaugh" event May 3, 2007 in Novi, Michigan. The event was sponsored by WJR radio station as part of their 85th birthday celebration festivities. (Photo by Bill Pugliano/Getty Images)
Now playing
03:10
Rush Limbaugh dead at 70 after battle with cancer
Brooke
PHOTO: CNN
Brooke
Now playing
03:33
Brooke Baldwin announces she's leaving CNN
PHOTO: Getty Images/CNN
Now playing
04:04
Keilar calls out Fox News for misrepresenting Trump parade
White House deputy press secretary TJ Ducklo listens as press secretary Jen Psaki speaks during a press briefing at the White House, Tuesday, Feb. 9, 2021, in Washington. (AP Photo/Patrick Semansky)
PHOTO: Patrick Semansky/AP
White House deputy press secretary TJ Ducklo listens as press secretary Jen Psaki speaks during a press briefing at the White House, Tuesday, Feb. 9, 2021, in Washington. (AP Photo/Patrick Semansky)
Now playing
01:37
White House deputy press secretary TJ Ducklo resigns
Lou Dobbs Tonight Stelter DNT 0208
PHOTO: Fox Business
Lou Dobbs Tonight Stelter DNT 0208
Now playing
02:29
Here's just how extreme Dobbs' rhetoric became before cancellation
President Donald Trump
PHOTO: Chip Somodevilla/Getty Images
President Donald Trump's lawyer and former New York City Mayor Rudy Giuliani talks to journalists outside the White House West Wing July 01, 2020 in Washington, DC. Giuliani did an on-camera interview with One America News Network's Chanel Rion before talking to other journalists about Vice President Joe Biden and the news that Russian intelligence may have paid Taliban operatives to kill U.S. troops in Afghanistan.
Now playing
02:51
Hear Giuliani's response to disclaimer running before his radio show
PHOTO: Getty Images
Now playing
03:44
Smartmatic sues Fox News, Trump allies over 'disinformation campaign'
Now playing
02:03
Watch Newsmax anchor walk off set during MyPillow CEO interview
Now playing
03:38
Right and wrong ways to cover Rep. Marjorie Taylor Greene
Now playing
04:21
Stelter: Reducing a liar's reach is not the same as censorship
(CNN Business) —  

CBS wants to break from the Les Moonves era, but Moonves isn’t making it easy.

The company confirmed in a regulatory filing Thursday that Moonves, its former CEO, plans to fight for his $120 million exit package.

On Wednesday, according to the filing, “Moonves notified the company of his election to demand binding arbitration with respect to this matter.”

This means the saga of Moonves and CBS’ millions will go on.

Moonves, the longtime CEO of CBS, exited the company in September amid a flurry of sexual misconduct allegations and a power struggle with controlling shareholder Shari Redstone.

When the initial accusations against him were published by The New Yorker, Moonves said he regretted making anyone uncomfortable, but denied all allegations of nonconsensual sexual encounters.

But the fate of a possible $120 million severance payment was up in the air while the company awaited findings from two law firms that were hired to investigate the allegations.

In the meantime, Redstone consolidated power and reshaped the CBS board. Former Moonves deputy Joe Ianniello was named interim CEO.

In December, acting on a report from the law firms, the board decided to withhold Moonves’ severance.

Moonves “will not receive any severance payment” from the company, the directors said in a statement Monday evening, indicating that they had ample reason to fire Moonves for cause.

But an attorney for Moonves, Andrew Levander, responded by saying that the “baseless” conclusions of the board “were foreordained and are without merit.” This set the stage for a possible legal battle.

And now it is underway, according to Thursday’s filing with the SEC.

CBS said the company “does not intend to comment further on this matter during the pendency of the arbitration proceedings.”