CBS investigates allegations of sexual misconduct against CEO Les Moonves

CBS said Friday that it was investigating allegations of personal misconduct after the company's CEO, The Moonves, had been the subject of a New York story detailing allegations of sexual misconduct. He says the independent directors "investigate claims that violate the company's clear policies in this regard."

The shares of CBS Corp. have dropped six percent – its worst one – day loss in nearly seven years – circulating around noon Friday, raising concerns of investors Moonves could be forced to resign. The CBS leader has been an imposing figure in television for decades, credited with turning around a network that has been bogged down for years at lower grades.

CBS did not name Moonves in his statement, which was published before the New Yorker article was published Friday night. It was written by Ronan Farrow, who wrote a Pulitzer Prize winning story for the same magazine unveiling numerous allegations against Hollywood producer Harvey Weinstein

The article says six women who had professional relationships with Moonves say that he sexually harasses them between the 1980s and the late 2000s. Four described forced touching or kissing during business meetings. He says two women said that Moonves intimidated them physically or threatened to derail their careers.

. The women featured in the article were actress Illeana Douglas, writer Janet Jones and producer Christine Peters. Farrow told The Associated Press that all the women cited in the article had to overcome "a lot of fear of retaliation for telling very serious stories of sexual misconduct" on Moonves. "

Actor Tom Arnold, who knows both Douglas and Moonves, tweeted his support for the actress Saturday.

Moonves recognized at New Yorker that there are dozens of years when he was able to make some women uncomfortable by making advances.

But he says: "These are mistakes, and I greatly regrets. "he has never abused his position to harm or impede anyone's career."

The New Yorker article also stated that a culture of inco nduite was extending from Moonves to other parts of the company, including CBS News. He said that the men in this division who were accused of sexual misconduct were promoted, even though the company was paying compensation to the women.

The CAS stated that once the investigation is complete, the board of directors will review the findings and take appropriate action.

In his statement, however, the New Yorker article criticized him for not properly representing "a larger organization that does its best to treat its tens of thousands of employees with dignity and respect" .

Mooves is the latest media giant to be implicated in allegations of sexual misconduct since the fall of Weinstein in October triggered the #metoo move.

In November, CBS turned Charlie Rose, a seasoned host, on allegations that he had groped women. calls. Rose is excused for his behavior, but questioned the accuracy of some of the claims.

In December, Moonves joined a meeting of CEOs from almost every major studio, television network, and Hollywood record label to establish a commission against sexual misconduct. L & # 39; industry. They agreed to fund the Commission on Sexual Harassment and the Advancement of Equality at Work, and chose Anita Hill to chair it.

Legal Battle

The allegations come as CBS is in the midst of a legal battle with its controlling shareholder, National Amusements, which has lobbied for a merger with Viacom, also controlled by National Amusements.

CBS and Viacom were formerly part of the same company, known as Viacom, but were split in 2005 into separate entities, both controlled by Sumner. Red stone. His daughter, Shari Redstone, pushed to bring businesses together under one roof. Moonves was opposed to the case.

CBS stated that its "management team has the full support of independent board members" in the ongoing litigation involving National Amusement. The case is underway in Delaware court

National Fun jumped into controversy with a statement denying what he called "the malicious innuendo that Mrs. Redstone is somehow behind the allegations of inappropriate personal behavior by Mr. Moonves or the reports of today "

" Ms. Redstone hopes that the investigation into these allegations is thorough, open and transparent, "the company said.

Sharon Osborne, television personality at CBS, quoted the case in a tweet in favor of Moonves. the "interesting" claims.

Moonves, one of the most powerful executives in the media, directed CBS for two decades, including He revived the company, which operates the network CBS, Showtime and other entities, with successful shows like NCIS and The Big Bang Theory

Moonves also introduced separate CBS and Showtime streaming services, as more and more people are "cutting the cord" and watching TV online. The network is still at the top of the charts in prime time

While CBS shares have been hit hard, Viacom has risen sharply as investors anticipate that a combination of CBS and Viacom may become more likely if Moonves was to be deported. Viacom finished up 4.6 percent.

Moonves, married to television personality and CBS producer Julie Chen, was inducted into the Television Hall of Fame in 2013. He also won the Producers Guild of America Milestone Award. Chen issued a statement in support of her husband on Friday.

Moonves was the # 2 highest paid CEO of a mainstream company in 2017, according to an analysis by The Associated Press and Equilar, a management data company. He made $ 68.4 million last year, behind the CEO of Broadcom.

Prior to joining CBS, he was president of Warner Bros. Television, where he oversaw the development of successful television series Friends and ] ER .