CEO Les Moonves to be investigated for sexual misconduct

The Hollywood Reporter

The New Yorker is reportedly releasing an exposé today on the longtime CBS boss that accuses him of unwanted kissing and touching, including sexual misconduct that occurred more than 20 years ago and more recently. "Sources with knowledge of the article say it delves into the broader culture at CBS and will publish later today on the magazine’s website," according to The Hollywood Reporter. CBS released a statement ahead of the article's publication saying: “All allegations of personal misconduct are to be taken seriously. 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. 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.” News of the impending story caused CBS stock to nosedive within minutes.