Los Angeles | CBS and its former president, Leslie Moonves, will pay $US30.5 million ($47 million) as part of an agreement with the New York attorney general’s office, which says the network’s executives conspired with a Los Angeles police captain to conceal sexual assault allegations against Mr Moonves.

Under the deal announced on Wednesday (Thursday AEDT) by Attorney General Letitia James, the broadcast giant is required to pay $US22 million to shareholders and another $US6 million for sexual harassment and assault programs. Mr Moonves will have to pay $US2.5 million, all of which will benefit stockholders who the attorney general said were initially kept in the dark about the allegations.

AP