CBS

Les Moonves will NOT get his enormous, $120 MILLION severance package, because the CBS Board of Directors has determined they had a right to fire him for cause ... and specifically, sexual misconduct.

The Board just said, "We have determined that there are grounds to terminate for cause, including his willful and material misfeasance, violation of Company policies and breach of his employment contract, as well as his willful failure to cooperate fully with the Company's investigation."

The Board went on to say, "Mr. Moonves will not receive any severance payment from the Company."

Twelve women accused Moonves of various forms of sexual misconduct, including engaging in forced oral sex in his office in a 1995 meeting. Another woman claims she was "on call" for oral sex as part of her job.

Moonves has maintained any sexual encounter was consensual.

Moonves resigned his post as CEO of CBS back in September. His wife, Julie Chen, also stepped down from "The Talk" at the same time. She has, however, kept her role as host of "Big Brother" and "Celebrity Big Brother."

Les Moonves received oral sex from multiple CBS employees, and even had one at his beck and call for years ... according to a network investigation that could end up costing him $120 million.

CBS hired attorneys who just completed an investigation into more than a dozen sexual misconduct allegations against the former network honcho, and the report says Moonves "received oral sex from at least 4 CBS employees under circumstances that sound transactional and improper." The clear insinuation being he gave the women acting roles or other network jobs in exchange for sex.

According to the report ... first reported by the New York Times ... Moonves destroyed evidence and misled investigators who spoke 4 times. The investigators say they found him "evasive and untruthful at times and to have deliberately lied about and minimized the extent of his sexual misconduct."

As for the "on call" employee -- the report says multiple CBS employees said they were of the woman and believed she was "protected from discipline or termination."

Moonves admitted getting oral sex in his office from the woman -- a subordinate -- but described it as consensual ... according to the report.

The sexual misconduct includes incidents before and after he joined CBS in 1995. The report calls his 2004 marriage to Julie Chen a "bright line" ... after which the misconduct appears to have stopped.

What's at stake here is his $120 million severance package. If the CBS Board of Directors reviews the report and believes Moonves violated his employment agreement ... it can pull the plug on that payment. The investigators say CBS has justification to do just that.

A new woman is accusing Les Moonves of forcing her to perform oral sex, and she claims he tried to buy her silence by lining up acting roles for her.

Actress Bobbie Phillips tells the New York Times she met the ex-CBS honcho in 1995 during a meeting at Warner Bros. studio in Burbank. She alleges Moonves told her, "Look how hard you make me" before he unzipped his pants and exposed his erect penis.

Phillips claims Moonves told her, "Be my girlfriend and I'll put you on any show" before grabbing her by the neck and forcing his penis into her mouth. Phillips says the assault ended when Moonves' intercom rang.

The actress told the NYT there was a bat nearby she thought about using "to knock his head off." She said the experience led her to turn down an offer from producers, and she never spoke or worked with Moonves again.

According to the NYT report, Mooves attempted to smooth things over by trying to get Phillips a job -- and conspired with Phillips' former manager, Marv Dauer, earlier this year to keep her quiet. Dauer reportedly said Moonves told him, "If Bobbie talks, I'm finished."

Moonves denied the allegations ... telling the NYT, "I strongly believe that the sexual encounter with Ms. Phillips more than 20 years ago was consensual."

"Young Sheldon" is one of the biggest shows on TV ... so it's no surprise its child stars are raking in the same kinda bucks as Hollywood veterans.

The 'Big Bang Theory' spin-off is currently in its second season. Montana Jordan -- a 15-year-old -- who plays Georgie on the show is pulling in $18,200 for every episode of the new season.

According to Jordan's contract -- obtained by TMZ -- he made $17,500 per episode last year and will make around $19,000 per episode if he's in season 3.

Les Moonves could be boasting about all the money CBS just made under his leadership, but instead he's insisting he's done with the TV biz ... for good.

We got the ex-CBS honcho and his wife, Julie Chen, Thursday night after their meal at Madeo in Bev Hills ... and it was clear they're gonna play things close to the vest. We asked Les about the great financial news his old network had just announced -- revenues up about 3% in the 3rd quarter ... essentially his final months before getting pushed out over sexual misconduct allegations.

Les was a man of few words, telling us, "I'm retired," and it didn't sound like he's anxious to change that status. As for the ex-'Talk' cohost -- we suggested she get back in the saddle, but watch the video.

The look on Julie's face either says, "not interested"... or "I know something you don't."

Coy ... it's the Moonves family game plan.

"The Young and the Restless" star Max Ehrich is doing everything he can to protect himself after allegedly getting a gun pulled on him by an obsessed realtor ... 'cause he's exploring legal options and beefing up his security.

Max was spotted Friday afternoon leaving a Los Angeles law office with a massive body guard in tow ... the first time Ehrich has been seen in public since going into hiding.

We broke the story ... Max is scared to death because a prominent real estate agent allegedly became obsessed with the actor and pulled a gun on him in a fit of rage.

"The Young and the Restless" star Max Ehrich is scared to death and in hiding, after a prominent real estate agent who allegedly became obsessed with him pulled a gun on him in a fit of rage.

Sources connected to Ehrich tell TMZ, he looked at property in the L.A. area with the realtor and the guy became infatuated with the actor. We're told the realtor at one point allegedly became sexually aggressive but got rebuffed, and that got him mad.

Our sources say the realtor at some point pulled a gun on Ehrich, although we're told it may have been a pellet gun.

We're told the actor, who appeared on 'Y&R' from 2012 to 2015 and played Fenmore Baldwin, is so freaked out he has gone into hiding and hired full-time security. Max posted a pic showing a security guard on what appears to be a hotel bed. Max posted that he's okay, but is clearly fearing for his life.

President Trump's painting featuring him with Grand Old Party presidents set the internet ablaze during his "60 Minutes" interview -- but it also lined the painter's wallet with cash.

During 45's interview Sunday night, a lot of people noticed Trump had hung up a fantasy painting on a wall somewhere in the White House. It shows Trump drinking what appears to be a non-alcoholic beverage with guys like Abraham Lincoln, Richard Nixon, the Bushes, Ronald Reagan, Teddy Roosevelt and other Republican presidents ... who all got booze nearby.

Many art aficionados mocked 45's vanity and called the painting "tacky" and "trashy" -- and also ridiculously and slimmingly flattering. There are, however, fans ... 'cause Missouri-based artist Andy Thomas tells us business has been booming in the 24 hours since his artwork aired on TV.

Andy says he and his wife woke up Monday morning with 25 new orders for prints of his "Republican Club" painting. They typically get only 3 orders a day. He tells us 60 additional orders came rolling in an hour later.

It isn't just the GOP boys getting love -- Andy says prints of another painting he did depicting Obama and famous Democratic presidents have been flying off his digital shelves from his website.

Hillary Clinton is still firmly in Bill Clinton's corner more than two decades after his sex scandal with Monica Lewinsky ... with HC now saying he didn't abuse his power over her.

The former Secretary of State and two-time presidential hopeful went to bat for her husband Sunday during an interview with CBS, in which a reporter asked if then-President Clinton should have resigned after being impeached for lying about his affair with Lewinsky.

Her answer was telling ... "Absolutely not." The reporter follows up by asking if his relationship with Lewinsky might've been an abuse of power. She simply says, "No, no."

HC was presented with one last premise that she quickly and brutally deflected at Lewinsky's expense, with the reporter suggesting that a sitting president cannot have a consensual relationship with an intern because the power imbalance is too great.

She quickly interjected with, "... who was an adult" and pivoted to asking why there hasn't been such an expansive probe into the allegations of sexual misconduct against Trump.

Julie Chen's sign-off last week on 'Big Brother' wasn't a one-time stunt -- 'cause she did it again for Wednesday night's episode, and got major love.

Sources at Tuesday night's taping tell TMZ ... Julie opened the show by saying ... "Good evening, I'm Julie Chen Moonves. Welcome to 'Big Brother.'" Her words were met with a thunderous show of support from the audience.

Julie signed off with the Moonves surname during last week's episode -- and now it seems she is taking her husband's name full-time, on the heels of his hasty exit from CBS amid sexual misconduct allegations.

TMZ broke the story ... Julie wants to stay on as the host of 'Big Brother,' and CBS won't ask her to go. Assuming they renew the hit show for another season, she's likely to stay put.

Julie Chen will remain the host of 'Big Brother' because CBS won't ask her to go and she wants to stay ... TMZ has learned.

CBS insiders tell TMZ the network does not want to punish Julie for her husband Les Moonves' alleged misdeeds, so she will finish the current season and the plan is for her to return, with one big IF. The IF is bringing the show back for another season. The ratings are still good and the all-important demos are strong, so renewal is all but certain.

As for whether Julie wants back ... the answer is YES. Sources connected to Julie tell TMZ, she will absolutely finish the season and wants to return for future seasons.

Julie announced Tuesday she was leaving "The Talk." Our sources say it was all her decision -- CBS put NO pressure on her to leave.

It makes sense Julie opted for 'BB' over "The Talk" for 2 reasons. First, the 'BB' shooting schedule is less demanding than "The Talk" so it gives her more time to spend with her husband and son -- something she says is a priority.

Perhaps more significant ... "The Talk" is a topical show, and sexual harassment is a staple, which would make for uncomfortable conversation. "Big Brother" is more scripted and doesn't get as personal.

Short story ... she's coming back to "Big Bro."

Julie Chen just formally announced she's leaving "The Talk" and her departing message thanked both her fans and costars.

The longtime talk show host and CBS anchor appeared in a pre-recorded video Tuesday at the bottom of the show, where she said, in part, that she was leaving "The Talk" to spend more time with her husband, Les Moonves, and their young son.

Julie, who eventually became teary-eyed during her remarks, thanked all the hosts of "The Talk," singling out each one and quickly reminiscing on their friendship. She ended with "I love you all, and I know this show and the sisterhood it stands for will live on for many, many, many more years to come. You ladies got this, and I cannot be more proud to call you my friends. I love you."

The camera eventually cut back to the main set where all the ladies were in tears. Sara Gilbert quickly thanked Julie for her contributions to "The Talk" and the program ended from there without further discussion.

As we reported ... Julie was slated to make the announcement that she would be off of "The Talk" effective immediately. No word on whether she's leaving her "Big Brother" hosting gig just yet, but it appears she'll be sticking it out for the short term. She's hosting again this week.

Julie returned to "Big Brother" last week without mentioning the sexual assault allegations against her husband, Les Moonves. She also didn't talk about his forced resignation from CBS in the wake of several women coming forward to accuse him of past sexual misconduct.

She did, however, sign off on Thursday's episode as Julie Chen Moonves ... clearly showing her support for her husband.

Claudia Jordan is trying her best to talk her way into "The Talk" ... with no apologies to Julie Chen ... who Claudia thinks shouldn't be stepping down anyway.

We got Claudia in L.A. leaving Avenue nightclub Monday night, and she was not shy about angling to replace Julie as a co-host on the CBS daytime talk show. As we reported, Julie announced Monday she's leaving "The Talk" ... effective immediately.

Julie Chen will be leaving her daytime gig at "The Talk" ... TMZ has confirmed.

Sources with direct knowledge tell TMZ, Tuesday's show will include a videotape of Julie saying she's leaving the show immediately.

It seemed inevitable Julie would take a final bow from the show, where discussions frequently involve issues like sexual misdeeds. Although her husband, Les Moonves, has denied any improper conduct, the fact that 12 women have come forward and that he was forced out ... it would put Julie in a tough spot.

Julie did appear on "Big Brother" last week and it seems she'll stick that one out ... at least in the short term. She made it clear she's standing by her husband at the end of last week's show, when she signed off as "Julie Chen Moonves."

No word on who will replace Julie.

Les Moonves was at the helm of 18 TV programs that have been nominated for Emmys, but he's not going to the big shindig Monday night ... because CBS didn't invite him.

Sources with direct knowledge tell TMZ, CBS made a decision not to extend the invitation in the wake of the sexual misconduct scandal. Each network gets a certain number of tickets it can distribute as it wishes, and Les will not be a beneficiary.

A network source calls it a "non-issue" because Moonves has not attended the Emmys in several years.

One source says it's complicated because Moonves was not technically fired, although he was clearly forced to step down after a dozen women accused him of sexual misdeeds. Nevertheless, it's the network's decision who gets tickets ... so, case closed.

As for some of the shows nominated under Moonves' watch ...

-- "The Amazing Race"

-- "The Big Bang Theory"

-- "The Late Show with Stephen Colbert"

-- "The Late Late Show with James Corden"

-- "Bruno Mars: Live 24K Magic at the Apollo"

Larry King thinks Julie Chen Moonves was not only right to stand by her man ... he sang her praises for doing so -- literally.

We got Larry and wife Shawn Friday night in Bev Hills leaving Madeo, and Larry said he's known Les for many many years, and what the former CBS honcho did 2 decades ago was horrible. Nevertheless, he thinks Julie's loyalty is appropriate.

Larry then put Shawn on the spot and asked what she would do. Shawn uncomfortably did some math, and ultimately came out on Julie's side.