Wednesday, 14 November, 2018

CBS Board Is Said to Meet Monday to Discuss Moonves' Future

Mohd Rasfan  AFP  Getty Images FILE Mohd Rasfan AFP Getty Images FILE
Jeannette Daniel | 31 July, 2018, 18:00

Early trading shows CBS's shares are down almost 4 percent at around $52.00 at 7:10 am PST after tumbling 6 percent Friday following the release of Ronan Farrow's bombshell expose, in which six women accused Moonves of sexual harassment dating back more than two decades.

On Monday's broadcast of The Late Show, Colbert responded to the recent New Yorker investigation, written by journalist Ronan Farrow, in which six women accused Moonves of forcibly kissing, touching and intimidating them between the 1980s and late 2000s.

Some board members this weekend spoke about whether Moonves should step aside during the probe, one source said. The CBS board of directors is set to meet later today to consider its options amid the growing crisis.

The board plans to form a special committee that will oversee an investigation into both Moonves and the overall culture at the network, according to two sources familiar with the matter.

The company is also scheduled to report quarterly earnings on Thursday and hold its annual shareholder meeting on Friday in Pasadena, California on August 10.

"Now, I'll have some more to say on this over at the desk, later, assuming we make it past the commercial break", he said.

On Monday's episode of her daytime CBS chat show, "The Talk", she said she will not discuss the issue on the air.


Chen who shares son Charlie, 8, with Moonves, previously described her husband as a "devoted husband and inspiring corporate leader". "Without Moonves at the helm, we think CBS will be less able to persuade investors that it is better off on its own". You know what? Don't tell me, I like a surprise.

"I don't know what's going to happen, but I do believe in accountability, and not just for politicians you disagree with", Colbert said. Those were mistakes, and I regret them immensely.

The CBS board includes one director who-apart from The New Yorker bombshell-has an especially tense relationship with Moonves: Shari Redstone, whose father Sumner Redstone serves as chairman emeritus.

But he added that he had "never misused my position to harm or hinder anyone's career". Moonves, 68, joined the former CBS Corporation in 1995 as President of CBS Entertainment.

"I recognize that there were times decades ago when I may have made some women uncomfortable by making advances", Moonves said.

Moonves, who has run the current CBS since 2006, has steered the company aggressively into the streaming arena.

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