28 July, 2018
CBS spokesman Dana McClintock didn't immediately respond to phone calls and emails seeking comment.
It was not clear when exactly the New Yorker would publish its story or what its contents would be. They have one child together, 8-year-old Charlie Moonves. All of them worked their way up the ranks and are now managers of our broadcast.
The New Yorker was awarded the Pulitzer Prize gold medal for public service for stories published past year by Farrow, a contributing writer, that exposed the alleged pattern of sexual predation by movie producer Harvey Weinstein.
CBS CEO Les Moonves will remain on the job during the network's investigation of sexual misconduct accusations that are expected to be detailed in a looming New Yorker story.
"All allegations of personal misconduct are to be taken seriously", the CBS board of directors announced in a statement.
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According to The Hollywood Reporter, Farrow's story may also go into the broader culture at CBS. It closed down 6.1%, at $54.01 a share. Moonves was the president and CEO of CBS television from 1998 to 2003, then becoming chairman and CEO of CBS itself in 2003.
CBS owns the CBS TV network, cable network Showtime and the publisher Simon & Schuster.
The company's dominance has not always been a sure thing. Shari Redstone has pushed to combine the two media giants, a deal Moonves vigorously opposed in the courts. Instead, CBS has outperformed its corporate sibling by leaps and bounds. He went on to launch CBS All Access, home to Star Trek Discovery and The Good Fight. It gave a nod to his "stellar reputation" with investors. She declined his advance but thanked him for lunch. Subsequent reporting raised questions about the response to those allegations by managers at CBS.
Rose admitted some of his actions were "inappropriate", though he has denied other allegations.
For a decade under his leadership, CBS has been the most-watched network in the United States, narrowly retaining its crown ahead of NBC in the 2017-18 season.
Moonves is now in pitched battle with Shari Redstone, the National Amusements chair with controlling shares in both CBS and Viacom, who wishes to recombine the companies. CBS controlling shareholder Shari Redstone also issued a statement calling for a "thorough, open, and transparent" investigation of Moonves by the board. CBS sued REDSTONE to prevent her from attempting to take control by ousting directors or changing bylaws.