Don Imus reaches settlement with CBS, sued by Rutgers member

Don Imus has reportedly reached a settlement with CBS and is now negotiating with New York's WABC radio for a job there.

CBS spokesman Dana McClintock said Imus and CBS Radio reached a settlement to pre-empt Imus' threatened $120 million breach-of-contract lawsuit.

Martin Garbus, Imus' lawyer, and CBS Radio issued a joint statement, saying "[Imus and CBS Radio] have mutually agreed to settle claims that each had against the other regarding the Imus radio program on CBS," but did not release any specific details about the settlement.

Imus was fired from both CBS radio and MSNBC in April after using the phrase "nappy headed hos" when describing the Rutgers women's basketball team.

CBS and MSNBC argued Imus' remark was racist and sexist. Meanwhile, Imus' attorney cited a clause in his contract that said CBS acknowledged that Imus' services were "unique, extraordinary, irreverent, intellectual, topical, controversial."

On the same day, Imus was sued by Kia Vaughn, a Rutgers team member. That suit also named NBC and CBS as defendants. The suit alleges libel and seeks monetary damages as of yet unannounced.