CBS to look into misconduct claims against CEO Leslie Moonves

New York: CBS Corp., already embroiled in a legal battle with its controlling shareholder, will investigate claims of sexual misconduct expected to be leveled against Chief Executive Officer Leslie Moonves.

The allegations in the forthcoming New Yorker article by Ronan Farrow involve unwanted touching and kissing incidents that go back, in part, more than 20 years, the Hollywood Reporter said, citing sources with knowledge of the matter it didn’t identify.

Farrow, who won a Pulitzer Prize with The New York Times earlier this year for his reporting on fallen Hollywood mogul Harvey Weinstein, which galvanized the #MeToo reckoning over pervasive sexual harassment in showbiz and other industries. Hewas among the reporters who first broke news on the sexual-misconduct allegations against Harvey Weinstein last year.

In a statement, CBS said it will take any allegations seriously and that independent directors of the company would investigate and take action if necessary. Citing the ongoing legal fight with Shari Redstone’s National Amusements, CBS’s controlling stockholder, the broadcaster also said management has the full support of its independent board members.

Moonves, 68, is one of the most powerful figures in Hollywood. He would be among the biggest names to face sexual misconduct allegations that have surfaced in the wake of New Yorker and New York Times articles that revealed widespread claims of abuse. Investors and executives see him as the architect of the company’s success and would view his departure as a severe blow.

Shares of CBS fell as much as 6.6 percent to $53.75 in New York. They were down 2.5 percent this year through Friday. Viacom Inc., also controlled by the Redstones, rose as much as 4 percent to $29.19. CBS fired longtime on-air host Charlie Rose in November over sexual harassment allegations.

CBS and Viacom are embroiled in litigation stemming from the Redstone family’s efforts to a merge the two companies. CBS rejected that move and took steps to issue new shares in an attempt to dilute the family’s voting control. Those matters are now in court.

"Upon the conclusion of that investigation, which involves recently reported allegations that go back several decades, the board will promptly review the findings and take appropriate action," said the CBS statement.

Forbes estimates Moonves' net worth at $700 million and calls him one of the highest paid CEOs in the United States.

At CBS, he has launched popular prime time television shows such as "Everybody Loves Raymond," "Survivor" and "CSI: Crime Scene Investigation."