Ronan Farrow, who broke the Harvey Weinstein scandal, has another bombshell publishing in The New Yorker this afternoon about Les Moonves, the CEO of CBS.
CBS said in a statement that it is investigating the claims made against Moonves. “All allegations of personal misconduct are to be taken seriously,” the network stated. “The Independent Directors of CBS have committed to investigating claims that violate the Company’s clear policies in that regard. Upon the conclusion of that investigation, which involves recently reported allegations that go back several decades, the Board will promptly review the findings and take appropriate action.”
CBS added: “The timing of this report comes in the midst of the Company’s very public legal dispute. While that litigation process continues, the CBS management team has the full support of the independent board members. Along with that team, we will continue to focus on creating value for our shareowners.”
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It is unclear what impact The New Yorker report will have at a time when Moonves is locked in litigation with Shari Redstone, the controlling shareholder in both CBS and Viacom. The feud erupted after CBS resisted Redstone’s desire to merge the two companies, which she controls through voting shares in the Redstone family-controlled trust, National Amusements Inc.
CBS sued Redstone in May to prevent her from attempting to take control by ousting directors or changing bylaws. Redstone responded with her own lawsuit saying Moonves had no right to strip her of control of CBS.
Shares of CBS Corp. plummeted on the news.
BREAKING: Shares of CBS Corp. slide sharply; CEO Leslie Moonves expected to be accused of sexual misconduct in forthcoming story https://t.co/jn8limUSe7 pic.twitter.com/nxVMRcY8Hu
— CNBC Now (@CNBCnow) July 27, 2018
AAN Staff
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