CBS and Don Imus reach settlement

NEW YORK, Aug. 14 (UPI) -- Don Imus and CBS Radio have settled their claims against each other stemming from the New York-based talk host's firing in April.

Imus was taken off the air for calling the Rutgers University women's basketball team "nappy headed ho's."

The two sides filed claims against each other and announced in a statement Tuesday they had "mutually agreed to settle claims that each had against the other regarding the Imus radio program on CBS," FMQB.com reported.

Legal sources told the Drudge Report Imus would received $20 million and the right to return to the air -- reportedly on WABC radio in New York.

However, an Imus spokesman told CNN's "Showbiz Tonight" that "the number reported is grossly false."