Don Imus

Don Imus Settles with CBS

08/14/2007 at 01:00 PM EDT

Don Imus Settles with CBS
Don Imus
Peter Kramer/Getty
Don Imus has settled his outstanding multimillion-dollar contract with CBS after being fired by the network in April.

Imus, 66, and CBS radio reached a settlement, though the terms were undisclosed. However, the deal preempts the outspoken host from going forward with his possible $120 million breach-of-contract lawsuit. Before his dismissal, Imus had signed a five-year, $40 million contract with CBS.

Imus is also hoping to make a radio comeback, and is negotiating with WABC Radio to resume his broadcasting career, a source tells the Associated Press.

According to the source, the radio host also signed a "non-disparaging" agreement, forbidding Imus from speaking negatively about CBS.

The shock jock was fired after referring to the members of Rutgers University Scarlet Knights basketball team as "nappy-headed hos." Imus subsequently apologized to the team.

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