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By Vibhuti Sharma and Liana B. Baker
(Reuters) – U.S. broadcasting and media business CBS Corp (CBS.N) reported on Friday it was investigating allegations of personal misconduct by its main government Leslie Moonves forward of an forthcoming New Yorker posting that is anticipated to detail the claims.
The statements against Moonves include incidents that go back again, in aspect, extra than 20 a long time, the Hollywood Reporter stated earlier on Friday, citing resources with understanding of the make a difference and the New Yorker magazine story who it did not recognize.
“On the summary of that investigation, which consists of not too long ago described allegations that go back numerous many years, the board will instantly evaluate the results and consider ideal motion,” CBS stated in a assertion.
It was not distinct when specifically the New Yorker would publish its story or what its contents would be. Moonves and the New Yorker did not straight away respond to requests for remark.
Ronan Farrow, the author of the achievable story, tweeted late Friday that he does not remark on operate that has not been revealed however.
“If you are examining about my do the job from secondary sources you happen to be frequently not getting the whole or accurate tale,” Farrow mentioned on Twitter.
The allegations appear as Moonves is locked in a battle about manage of CBS with the firm’s major shareholder, National Amusements Inc, owned by Shari Redstone and her father Sumner Redstone who proposed merging CBS with media business Viacom Inc (VIAB.O), also owned by Nationwide Amusements.
Viacom declined to comment on the claims in opposition to Moonves.
“The timing of this report comes in the midst of the firm’s incredibly public authorized dispute,” the CBS statement extra. “When that litigation procedure carries on, the CBS administration crew has the complete aid of the impartial board users” CBS extra.”
A spokeswoman for Nationwide Amusements Inc mentioned, “(Shari) Redstone hopes that the investigation of these allegations is thorough, open up and transparent.”
Moonves clashed with Redstone previously this 12 months around her bid to merge CBS with Viacom. Moonves resisted that deal mainly because he believed CBS’s potential clients were being superior with no getting on Viacom’s turnaround issues.
A CBS board committee in May well turned down the opportunity merger with Viacom and sued to strip Countrywide Amusements of its manage of CBS.
Viacom shares jumped 5 per cent to $29.35 on Friday, while CBS shares fell additional than 6 % to $54.01, as buyers speculated that the prospects of a merger had improved.
Combining CBS, which owns cable networks together with Showtime as perfectly as the CBS Tv set Network and CBS Tv Studios, with Viacom, whose companies consist of Paramount Photographs, Comedy Central, Nickelodeon and MTV, would have extra negotiating leverage with cable and satellite businesses, analysts reported.
Moonves, 68, joined CBS as an amusement president in 1995 and has been CEO given that 2006. He is broadly credited with turning CBS into one particular of the leading-performing U.S. media businesses.
Moonves has been married to CBS information anchor and presenter Julie Chen due to the fact 2004.
Multiple accusations of sexual misconduct from politicians, business leaders and entertainers in the U.S. have been designed in the earlier calendar year, main to resignations, typically encouraged by the #MeToo social movement.
(Reporting by Vibhuti Sharma and Sonam Rai in Bengaluru editing by Clive McKeef)
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