Don Imus’s dismissal from CBS in April this year, over his now infamous racial slur and the subsequent lawsuit he threatened with have come to a denouement that seems to be satisfying to both parties.

Don Imus used the expression “nappy-headed ho’s” on his morning show on CBS Radio, referring to the Rutgers University women's basketball team, in mid-April. It wasn’t long before he was up to his ears in public reproaches from angry listeners and civil rights activists.

He apologized for his uninspired phrase but the demand that his wrong is righted through his dismissal could not be ignored by CBS. He was ultimately fired, but not before he personally apologized to all members of the Rutgers University women’s basketball team.

He soon threatened to sue his former employer, as the contract they had signed entitled him to a large amount of money. Imus and CBS Radio had signed a 5-year, 40 million dollar contract, and the veteran radio talk show host was fired only a few months after having started work.

Imus’s lawyer, Martin Garbus, a New York-based attorney at the law firm Davis & Gilbert, declared at the time that the contract included a clause that encouraged him to be “confrontational and irreverent” – which he was.

Imus and CBS Radio have now reached a settlement, it was announced in a joint statement from the network and Garbus yesterday.

“Don Imus and CBS Radio have mutually agreed to settle claims that each had against the other regarding the Imus radio program on CBS,” it said. “The terms of the settlement are confidential and will not be disclosed.”

Considering Imus was claiming he deserved some $120 million for being fired in such a disgraceful way publicly, the deal must be a pretty good one. In addition, Imus is reportedly in negotiations with New York's talk radio station WABC-AM for a collaboration.

He has repeatedly apologized for his slur, insisting that he is not a racist. Back in April, while on Rev. Al Sharpton’s radio show, the 67-year-old Imus said: “I wasn't thinking that it was a racial insult. I understand it's not funny ... and I'm sorry I said it.”

Sharpton was among the most insistent that Imus be fired.