CBS denies Sharon Osbourne is receiving $10million payout after leaving The Talk

CBS has denied giving former The Talk host Sharon Osbourne $10million after it was announced she would be stepping down following an internal investigation into her conduct on the show’s March 10 episode.

The wife of rock star Ozzy Osbourne engaged in a fiery exchange with fellow host Sheryl Underwood after she defended her friend Piers Morgan.

Sharon had stood by Piers over comments he made about Meghan Markle, which led to him stepping down from Good Morning Britain earlier this month.

US publication Page Six claimed a source said Sharon was "walking away with a $5 to $10million minimum payout and was able to spin that it was her decision [to leave the show]".

Another insider claimed the former X Factor judge would be speaking out about her exit "when she is ready… She has been on that show for 11 years and knows all the secrets".

However, a CBS spokesperson responded that the report was "false, inaccurate or untrue," and declared the publication could "take your pick".

Daily Star has contacted Sharon's representatives for comment.

Sharon apologised for her behaviour in a lengthy post on social media, where she stepped back from her views on The Talk.

"After some reflection, after sitting with your comments and sitting with my heart I would like to address the discussion on The Talk this past Wednesday," she began.

"I have always been embraced with much love and support from the black community and have deep respect and love for the black community.

"To anyone of colour that I offended and/or to anyone that feels confused or let down by what I said, I am truly sorry. I panicked, felt blindsided, got defensive and allowed my fear and horror of being accused of being racist take over.

"There are very few things that hurt my heart more than racism so to feel associated with that spun me fast!"

Imploring for her fans’ forgiveness, the former X Factor judge continued. "I am not perfect, I am still learning like the rest of us and will continue to learn, listen and do better."

The star went on to say she does not condone any form of racism, misogyny or bullying.

Referencing her tweet in support of journalist Piers after he stepped down from Good Morning Britain, Sharon insisted she still believes in free speech but should have made the distinction between her other views clear.

"I hope we can all hold each other up with accountability, compassion and love during this powerful time of paving the way for so much needed change," the mum-of-three finished.

When Sharon’s exit was announced, CBS came to the conclusion their internal investigation had found the TV star’s behaviour not to be satisfactory on the show.

"Sharon’s behaviour toward her co-hosts during the March 10 episode did not align with our values for a respectful workplace," the statement said.

The Talk was put on pause while CBS conducted their investigation, and will return on April 12.

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