CBS Shares Nosedive as Board Debates CEO Les Moonves' Future

No other actions were taken at the Monday board meeting. But the board on Monday said it won't act immediately.

Julie added, "And I will stand by that statement today, tomorrow, forever".

The longtime host of the Emmy-winning CBS daytime talk show opened Monday's live show with a brief statement addressing the sexual harassment allegations against her husband, CBS CEO Les Moonves, which were detailed in a scathing report by Ronan Farrow for The New Yorker on Friday. There have also been calls for Moonves to step aside from his role at the company while the matter is looked into.

One of those women, the actress and writer Illeana Douglas, told Farrow that during a 1997 meeting, Moonves began "violently kissing" her, and then, "aroused, pulled up her skirt and began to thrust against her".

"While the emotional reaction is to sell CBS on the release of the long-rumored and damaging New Yorker article regarding CBS CEO Les Moonves, we believe the stock is undervalued", Gould noted.

Jeremy Hunt calls his Chinese wife ‘Japanese’
Hunt is in Beijing to discuss issues such as free trade, climate change and enforcing United Nations sanctions on North Korea. Hunt's error was compounded by the fact that the two countries are "traditional rivals", says the South China Morning Post .

Moonves has helped turn CBS into a ratings juggernaut during his 23-year run at the company, which ranks among one of the media's industry most financially stable.

In a statement to The New Yorker, Moonves said: "I recognize that there were times decades ago when I may have made some women uncomfortable by making advances".

Until now, top executives in the entertainment business have been largely the ones handing out the punishment as talent such as Matt Lauer and Charlie Rose have been accused of misconduct; the executives have been criticized for complicity but not accused of direct offenses.

The allegations come as Moonves is in a power struggle with majority shareholder of both CBS and Viacom, Shari Redstone. Chen's The Talk co-star Sharon Osbourne questioned "the timing" of the allegations against Moonves as she offered support to the high-profile CBS couple. Among the several board members with Redstone ties are her personal lawyer Robert Klieger and David Andelman, another attorney, who also serves as a director at National Amusements.

The board on Friday said it would initiate an investigation into the allegations made about Moonves and the culture of CBS... Those were mistakes, and I regret them immensely. Moonves rejected her latest bid to merge the companies and has said he wants to keep his company independent.

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