CBS chief Les Moonves will step down from his position in the coming days amid growing sexual misconduct allegations, CNN reported Sunday.

Sources with direct knowledges of the matter told CNN that CBS has reached an exit deal with Moonves, which they are likely to announce on Monday. The news of his departure comes after previous reports surfaced late last week indicating that Moonves was negotiating an exit deal with the network.

The CBS board reportedly hired two law firms to investigate the allegations against Moonves. Sources told CNN that the settlement is intended to resolve months of legal battles between Moonves and Shari Redstone, the controlling shareholder of CBS.

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