CBS Investigating Allegations Against CEO Leslie Moonves After He Admits to Misconduct

Les Moonves, CEO of CBS, Accused of Sexual Misconduct: Report

All six women said they feared speaking out would lead to retaliation, according to the story, written by Ronan Farrow.

Dozens of employees confirm the allegations are true.

The article says that four of the women described forcible touching or kissing during business meetings. She met Moonves alone at his office in 1996, where the executive asked if she was single and then pinned her to the couch with her arms above her head. "What happened to me was a sexual assault, and then I was sacked for not participating", she said.

You can read the entire article at The New Yorker. The magazine said Jones alleged that she had to "shove Moonves off her after he forcibly kissed her at a work meeting".

CBS Corp.'s stock fell 6 percent - its worst one-day loss in almost seven years - as the reports of the misconduct allegations began to circulate around noon Friday, triggering investor concerns Moonves might be forced to step down. Those were mistakes, and I regret them immensely.

Moonves further said: "But I always understood and respected - and abided by the principle - that "no" means 'no, ' and I have never misused my position to harm or hinder anyone's career".

But if there's "cause" for Moonves' firing, his compensation could be zilch.

"We do not believe, however, that the picture of our company created in The New Yorker represents a larger organization that does its best to treat its tens of thousands of employees with dignity and respect".

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Without naming names, CBS's Friday statement alludes to the ongoing tug-of-war.

CNN has obtained the statements from Moonves and CBS. (60 Minutes producer Jeff) Fager seemed to encourage that climate. Moonves and the New Yorker did not immediately respond to requests for comment. All of them worked their way up the ranks and are now managers of our broadcast.

A former associate producer summed up the network in a similar fashion. It says the independent directors are "investigating claims that violate the company's clear policies in that regard".

Farrow discussed his reporting Friday night on CNN's "Erin Burnett OutFront".

Farrow's article is more than 9000 words. CBS stock began dropping after The Hollywood Reporter reported that the article was forthcoming.

Moonves and Shari Redstone, vice chairman of CBS Corporation, Viacom and NAI, are set to go head-to-head in a DE courtroom in October of this year.

The company's dominance has not always been a sure thing. The two are at odds over the future of the company, with CBS's management and board trying to dilute her power. Instead, CBS has outperformed its corporate sibling by leaps and bounds.

With Moonves out, a merger becomes more probably, with Viacom Chief Bob Bakish likely presiding over the combined company, Creutz said. He earned $69.3 million in 2017, according to Variety.

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Moonves earned close to $70 million past year and reigns in the title as one of the highest-paid corporate executives in the world.

The company has however been hit by scandal and controversy in the past several months.

In November, CBS had fired veteran TV journalist Charlie Rose, 76, after 10 women accused him of sexual misconduct.

Moonves has been married to Julie Chen, a CBS news anchor and TV host, since 2004.

CBS has been involved in a legal dispute between the board of CBS Corp and its controlling shareholder National Amusements Inc, owned by the Redstone family, which wants to merge it with Viacom Inc.

Moonves has been a singular presence at CBS for decades.

In this file photo taken on January 19, 2010 CBS President Leslie Moonves arrives for the premiere of CBS Films' "Extraordinary Measures" at Graumans Chinese Theatre in the Hollywood section of Los Angeles January 19, 2010. The legal case is being played out in DE court. "Along with that team, we will continue to focus on creating value for our shareowners".

Ahead of the New Yorker expose, CBS released a statement on Friday saying its board of directors is conducting an internal review of the allegations outlined in the article.

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