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A New Yorker article on Friday released detailed allegations of sexual misconduct against CBS CEOs, Leslie Moonves.
The alleged behavior of Moonves has infiltrated into de Most major branches of CBS, reported The New Yorker, citing 30 current and former employees
Fager was one of the people who allowed harassment, 19 current and former employees told the New Yorker. Fager is also a former president of CBS News.
CBS stated in a statement to the New Yorker that there has been no claim of misconduct or settlements against Moonves during his network career. He also challenged the characterization of his workplace culture by the New Yorker, saying that he is "aware of all the work problems and takes every report of misconduct very seriously."
CBS shares tumbled up to 7% on Friday.
The CBS stock was at a point in the worst daily performance since October 2, 2011, when it dropped 7.02%, before slightly reducing losses. The stock closed down 6%.
Farrow won a Pulitzer Prize for his reporting on the sexual misconduct habits of media mogul Harvey Weinstein. The revelations finally stimulated the #MeToo movement.
Farrow addressed the report Friday afternoon, before it was published, in a tweet, saying, "If you read my work from secondary sources, you do not get"
The allegations against Moonves follow upon Charlie Rose's ouster by CBS last fall for allegations of sexual misconduct.CBS directors said in a statement to CNBC, "All allegations of personal misconduct must be taken seriously."
Moonves opposed Shari Redstone's efforts to merge CBS with Viacom.Redstone's National Amusements is the largest shareholder of both companies, which were split into publicly traded companies at the end of 2005.
Viacom shares surged 4.5% on news of the New Yorker article before decelerating
a lawsuit against Shari Redstone, his father Sumner Redst one and NAI alleging that the proposed CBS-Viacom merger by NAI "is not in the best interests of CBS shareholders". The Redstone family subsequently filed a complaint alleging that CBS had no legal right to deprive them of their voting rights.
The trial date was set for October 3 at the Delaware Chancery Court. The annual meeting of CAS was held August 10 in Pasadena, California
Here is the complete statement from CBS:
"All allegations of personal misconduct must be taken seriously. to violate the clear policies of society in this regard.After the conclusion of this investigation, which relates to allegations reported for several decades, the council will quickly review the findings and take appropriate action. While the court process continues, the CBS management team has the full support of independent Board members and with this team we will continue to focus on creating value for our shareholders. .
A Redstone spokesman made the following statement to CNBC on Friday afternoon, in response to CBS statement: "
" The malicious insinuation that Ms. Redstone is sort of behind the al Legions of inappropriate personal behavior by Mr. Moonves or the reports of today is false and selfish Mrs. Redstone hopes that the investigation into these allegations is thorough, open and transparent. "
– CNBC
David Faber
and
Marty Steinberg
contributed to this report. ]
Read the full report in The New Yorker.
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