Don Imus has reached a settlement with CBS over his multimillion-dollar contract and is negotiating to resume his broadcasting career.

Mr. Imus and CBS Radio “have mutually agreed to settle claims that each had against the other regarding the Imus radio program on CBS,” the network said in a statement today.

The terms of the settlement will not be disclosed, according to CBS, which confirmed only that the settlement had been reached.

The settlement pre-empts the dismissed radio personality’s threatened $120 million breach-of-contract lawsuit.

Meantime, Mr. Imus is taking steps to make a comeback with WABC-AM, a person familiar with the negotiations said. The person, who spoke on condition of anonymity because the details had not been announced, also said the deal with CBS calls for a “non-disparaging” agreement that forbids the parties from speaking negatively about each other.

The settlement and possible comeback come more than four months after Mr. Imus created an uproar over his racist and sexist comments about the Rutgers women’s basketball team.

Just before his dismissal, Mr. Imus signed a five-year, $40 million contract to continue his nationally syndicated radio program, based at New York’s WFAN-AM, which is owned by CBS Radio and a part of CBS Corp. Famed First Amendment lawyer Martin Garbus said in May that Mr. Imus planned to sue CBS for $120 million in unpaid salary and damages.

Mr. Imus, 67, was dismissed April 12 after describing the Rutgers women’s basketball team as “nappy-headed hos” on his show, also simulcast on MSNBC. (General Electric Co.’s cable TV channel now has the “Morning Joe” program with Joe Scarborough.)

Mr. Garbus had cited a contract clause in which CBS acknowledged that Mr. Imus’ services were “unique, extraordinary, irreverent, intellectual, topical, controversial.” The clause said Mr. Imus’ programming was “desired by company and … consistent with company rules and policy,” according to Mr. Garbus.

Mr. Garbus was not immediately available for comment today.

WABC is a New York talk-radio station that features political and topical shows with such stars as Sean Hannity and Rush Limbaugh. Its general manager, Steve Borneman, did not immediately return a call requesting comment.

The Reverend Al Sharpton, who led a “Fire Imus” movement, did not immediately return a call for comment, but said last month that he would not oppose Mr. Imus’ return to radio.

WFAN also announced today that former pro quarterback Boomer Esiason is taking over the morning time slot along with Craig Carton.

As co-host of “The Jersey Guys,” a talk show on New Jersey radio station WKXW-FM, Mr. Carton at times offended minorities and women.

In January 2005, the former Governor of New Jersey, Richard Codey, nearly came to blows with Mr. Carton over his and his co-host’s disparaging comments about Mrs. Codey’s widely publicized battle with postpartum depression.

That same year the two hosts apologized over disparaging remarks about Asian-Americans.

A New Jersey assemblyman, Wilfredo Caraballo, said that Mr. Carton is “a guy who’s managed to insult almost every community around.”

“You would have thought that after the Rutgers incident that a lesson would have been learned. But I guess they figured that this guy would get some ratings for them,” he said.