CBS Shares Nosedive as Board Debates CEO Les Moonves' Future

CBS Shares Nosedive as Board Debates CEO Les Moonves' Future

CBS Shares Nosedive as Board Debates CEO Les Moonves' Future

CBS's independent board of directors said in a statement on Friday that it would "take appropriate action" at the conclusion of the investigation. They're expected to select a special committee to oversee the investigation into Moonves's conduct and the broader culture at CBS, which will reportedly be carried out by an outside law firm.

Kirgo - one of the six women whose experience with Moonves was included in the magazine story - said the meeting "went really well" but was surprised when Moonves, who was married to Nancy Wiesenfeld at the time, asked to meet her privately over dinner.

"CBS board's inaction speaks volumes".

The revelations come amid a legal battle for control of the USA television giant - between the Redstone family, which controls CBS, and the board, chaired by Moonves.

Following Monday's board meeting, CBS announced that it postponed the company's 2018 annual meeting of stockholders that was previously scheduled for August 10 until further notice.

"He has stood by us when people were mad at me, and I like working for him", Colbert said.

At 2:30 p.m., CBS shares were trading at $51.12, down 5.4 percent. Having been in SC with no internet, Colbert "heard there was an article about CBS Chairman and man-I-hope-isn't-watching-tonight's-monologue Leslie Moonves". And she doubled down on her earlier support of the embattled executive.

The board is split between those loyal to Moonves, who has run the company for more than a decade, and Shari Redstone, whose family owns a controlling stake in CBS. The accusations, published in The New Yorker on Friday, included claims of groping, forced kissing, and retaliation.

In another case, in 1985, the writer Janet Jones also described Moonves trying to kiss her during a business meeting at his office. You know what? Don't tell me, I like a surprise. Those were mistakes, and I regret them immensely. In this video clip, Colbert says he doesn't know what the fallout will be, because "in a situation like this, I'd normally call Les", per Deadline.

Redstone is challenging a plan by CBS to issue a special dividend aimed at cutting National Amusements' voting power in the company to 17 percent from 80 percent.

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

The first anonymous source, a "prominent actress who played a police officer on a long-running CBS program", alleged that after being wrongfully fired in the mid-'90s, she sat for a lunch meeting in Moonves's private office dining room.

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