Dan Rather sues CBS

The man who was the anchor of the CBS Evening News for over 20 years is going after CBS. He had resigned his anchor chair not long after a story about President Bush was largely discredited by bloggers. Here's an account from FOXNews.com...

Former CBS news anchor Dan Rather has filed a $70 million lawsuit Wednesday against the CBS network, its parent company Viacom Inc., and three of his former bosses.

Rather said he was denied airtime on "60 Minutes," among other complaints outlined in the lawsuit, CBS Radio reported. He accuses CBS and its executives of making him a "scapegoat" in an attempt to "pacify the White House," according to CBS Radio.

Rather's complaint stems from "CBS' intentional mishandling" of the aftermath of a discredited story about President George W. Bush's time in the Texas Air National Guard, the suit charges.

The lawsuit, filed in State Supreme Court in Manhattan, also names CBS President and CEO Leslie Moonves, Viacom chairman Sumner Redstone, and Andrew Heyward, former president of CBS News.

Rather is seeking $20 million in compensatory damages and $50 million in punitive damages.

This story is developing at this moment.