Les Moonves could be set to part ways with the CBS Corporation.
Multiple outlets are reporting that he could be relieved of his duties on Monday.
The Chief Executive has been plagued by allegations of sexual harassment after six women came forward in the New Yorker earlier this year.
CBS' board of directors has been working on a package to release him of his duties.
Moonves, who is married to Julie Chen, has led the company for the past 15 years and has successfully managed the television division.
However, despite having many supporters the backlash from the allegations has proved too much.
Mr. Moonves has also been involved in a protracted legal fight with the company's controlling shareholder, Shari Redstone.
The talks have included a potential payout that, while much less than the $184 million promised by his employment agreement, could still be as high as $100 million.
Given the circumstances the size of the pay out has caused a lot of friction inside CBS.
Joseph Ianniello, the chief operating officer of CBS and one of Moonves's advisers, is believed will be named the interim chief executive.
It is also being reported that Moonves will donate $20 million from his overall settlement to the #MeToo campaign once he officially stands down.
We pay for juicy info! Do you have a story for RadarOnline.com? Email us at email@example.com, or call us at (866) ON-RADAR (667-2327) any time, day or night.