Les Moonves


Moonves steps down from CBS

Over the weekend CBS chairman and CEO Leslie Moonves stepped down from his role after 24 years with the company. Moonves released an official statement on Sunday revealing his departure, after battling repeated accusations of sexual harassment. Initial harassment claims were made in July, after Ronan Farrow published details of claims made against the executive […]

Troubled CBS beats analyst expectations

CBS has reported growth across the board for its second quarterly earnings, beating analyst expectations, and despite recent controversy surrounding its chairman and CEO Leslie Moonves (pictured). Particular strengths included its revenue growth, which increased by 6% for the second quarter for 2018, to US$3.47 billion (€2.99 billion). This is up from $3.26 billion from […]

CBS board orders full investigation of Moonves allegations

The CBS board of directors has brought in legal firms Covington & Burlington and Debevoise & Plimpton to conduct a full investigation into recent harassment allegations against chairman and CEO Leslie Moonves and wider cultural issues at CBS. At Covington & Burling the investigation will be led by Nancy Kestenbaum, and at Debevoise & Plimpton […]

CBS board mulls Moonves’ future following sexual harassment claims

The board of CBS Corporation is set to meet today to determine how the company will formally react to recent sexual harassment allegations aimed at CBS chief Leslie Moonves. The move arrives after six women detailed cases of sexual harassment on a report published by Ronan Farrow on The New Yorker. Farrow is the same […]

CBS shareholders launch class action suit against Redstone family vehicle

CBS shareholders have officially launched a class action lawsuit against its majority stakeholder National Amusements, the investment firm of Sumner Redstone and family. The suit claims that National Amusements, now run by Redstone’s daughter Shari Redstone, has breached its fiduciary duty. Class B shareholders of CBS claim that Redstone has not acted in the company’s […]

CBS’ Moonves gets Upfronts ovation as legal battle heats up

CBS chief Leslie Moonves received a standing ovation from buyers at its Upfronts presentation last night, as the company faces a crunch after launching a lawsuit against its controlling shareholders, the Redstone family, on Monday In an atypical Upfront presentation, Moonves walked out to a standing ovation from a sizeable portion of the crowd who […]

CBS reportedly in bid for Viacom

CBS is set to make an all-stock offer for Viacom that prices the US company below its current market valuation, according to reports Reuters revealed earlier today that the “unusual” merger move may threaten negotiations that would see the two media giants reunite after 13 years. The report states that CBS chief Leslie Moonves will also […]

CBS extends CEO Les Moonves contract until 2021

US media giant CBS Corp has extended chief executive Leslie Moonves’ contract for an additional two years — meaning he will now remain in charge until at least 2021. Moonves, who joined CBS in 1995, will be 71 years-old at that time, though no one is ruling out the possibility of further extensions. Even if […]

CBS chief: Viacom merger ‘must be attractive’

CBS Corp. will only recombine with Viacom “if it looks rights and is structured properly”, according to chairman and CEO Les Moonves. Speaking on an investor call yesterday, Moonves said the currently healthy financial and creative position of CBS meant merging with Viacom, which has the same parent company, “if it is in the best […]

National Amusements urges Viacom-CBS merger

The majority shareholder of Viacom and CBS has urged the US media giants to re-merge. National Amusements has sent an open letter to CBS Corp. chairman, president and CEO Les Mooves and the Viacom board of requesting they “explore a potential combination”. CBS and Viacom operated as one company between 1999 and December 2005, but […]