CBS Awaits Its Fate After Les Moonves Meets His
The longtime CEO’s ugly downfall puts a for-sale sign on the company. But are there any buyers?
Signing off.
Photographer: Chris Goodney/Bloomberg
It’s a new day at CBS Corp. Les Moonves has officially been shown the door, and Shari Redstone has asserted her control. But let’s face it, there couldn’t have been any alternative endings to this saga.
CBS said late Sunday that the chairman and CEO was departing effective immediately and without any severance benefits until the conclusion of an independent investigation into the now numerous accusations against him of sexual harassment and retaliation. His removal appeared to be hastened by further allegations that were revealed in another New Yorker article over the weekend, which Moonves denied and said were “part of a concerted effort by others to destroy my name, my reputation, and my career.” The reporting by Ronan Farrow, whose work also helped bring down Harvey Weinstein, portrays a toxic culture within parts of CBS. It’s left many observers thinking, what took the board so long to act?