Moonves's potential departure comes amid sexual assault allegations against him - and as CBS faces a legal dispute regarding control of the company.
The talks have been going on for some time but have yet to reach a conclusion given continued back-and-forth about his exit package, the sources said. The 68-year-old executive is reportedly due almost $180 million in severance and a production deal under his current contract.
"This is a precedent-setting moment for CBS-and culture at large", time's Up spokesperson wrote in a statement Thursday.
Parkland survivor urges Congress to reject Trump court pick
Republicans have chosen to focus on Kavanaugh's personal qualifications, calling on witnesses who testified to his legal acumen. Booker would change his mind because releasing sensitive records would be "conduct unbecoming of a senator".
Shari Redstone is a major shareholder of both CBS and Viacom, and has been seeking to merge the two companies.
The Wall Street Journal is reporting that CBS chief Les Moonves is negotiating with independent directors of CBS' board for a possible exit.
If Moonves does soon leave the company, he would be replaced by COO Joe Ianniello in the interim, CNBC reported.
A former actor, Moonves went on to become one of the most powerful men in the industry after resuscitating CBS. Representatives of the board and representatives for the investigations into Moonves declined to comment.
One of the definitions for "cause" include "willful and material violation of any Company policy that is generally applicable to all employees or officers of the Company, including, but not limited to, policies concerning insider trading or sexual harassment", according to the filing.