Top CBS Exec faces an Investigation for Alleged Sexual Misconduct

A USA Business Radio Media Round Up

The New York Times reports:

The CBS board of directors said on Friday that it would investigate allegations of misconduct against the company’s chief executive, Leslie Moonves, the subject of a forthcoming article in The New Yorker focused on claims about his behavior toward women.

The statement, which did not specifically identify Mr. Moonves, was released after The Hollywood Reporter posted an article online saying that The New Yorker was poised to publish an article that detailed allegations of sexual misconduct against him…. (read more)

CBS News reports:

The Independent Directors of CBS have responded to reports of an upcoming story expected to allege misconduct on the part of CEO Les Moonves.

“All allegations of personal misconduct are to be taken seriously,” said the statement issued around noon on Friday. “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.”

Reports of the story in The New Yorker by Ronan Farrow surfaced late in the morning on Friday. CBS shares were down more than 6 percent Friday afternoon.

The story comes at a time when CBS is in a legal battle with Viacom. Shari Redstone is a major shareholder of both media companies, and has been seeking to combine them.

CBS owns the CBS TV network, cable network Showtime and the publisher Simon & Schuster. Viacom controls several major cable networks, including Comedy Central, MTV and BET, and movie studio Paramount.

Moonves, 68, has fought the merger… (read more)

CNBC reports: