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Tara Lachapelle

More Unwanted Drama at CBS

Accusations of misconduct against CEO Les Moonves may enable Shari Redstone to finally carry out a merger with Viacom.

End of an era?

End of an era?

Photographer: Patrick T. Fallon/Bloomberg

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Time’s up for CBS Corp. — in more ways than one.

On Friday, the New Yorker published a damning article about Les Moonves, the longtime CEO of CBS and esteemed industry leader, confirming a rumor that’s been swirling around for months in the entertainment world that such a story was coming. In it, six women accuse Moonves of sexual harassment, including forcible touching or kissing and threatening to hinder their careers, between the 1980s and late aughts. Shares of CBS dropped 6 percent, their biggest one-day decline since 2011, as the 68-year-old Moonves becomes the latest powerful businessman and Hollywood presence to face allegations of sexual misconduct amid the rise of the #MeToo movement.