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Radio talk-show host Don Imus speaks with Rev. Al Sharpton (not pictured) during Sharpton's radio show, in New York, April 9, 2007. U.S. broadcaster CBS settled its termination dispute with fired radio shock jock Imus on Tuesday, a possible step toward Imus reviving his multimillion-dollar career with a rival broadcaster. (Chip East/Reuters)

CBS settled its termination dispute with fired radio shock jock Don Imus on Tuesday

The Drudge Report Web site reported Imus would receive $20 million. CBS shares fell nearly 4 percent to close at $29.81 on the New York Stock Exchange on Tuesday.

Imus had threatened to sue CBS for $120 million for breach of contract through his famed lawyer, Martin Garbus

With the CBS settlement done, focus shifted to who might hire Imus, who was on a five-year, $40 million contract when fired.