The FCC received thousands of complaints following a May 1 'The Late Show With Stephen Colbert' episode where the comedian suggested Trump and Putin are having a sexual relationship.
5G will allow the telecom giant to provide a streaming service to rival AT&T's DirecTV Now, but Verizon does not have a launch date for it yet.
Under the terms of the agreement, Moonves' salary remains at its current level.
CBS said this afternoon that it had agreed to a contract extension with Les Moonves
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