The New Yorker is about to publish an investigation of CBS Corporation and its CEO Leslie Moonves. News of the impending investigation sent the company’s stock down more than 6%. Members of the CBS board of directors say they will take the allegations seriously. But the magazine story hasn’t actually come out yet.
Ronan Farrow, who has investigated President Trump, Harvey Weinstein, and other powerful men in the past year, has been pursuing a story about Moonves and CBS, according to people with knowledge of his work.
According to The Hollywood Reporter, Farrow’s piece is about CBS as a whole, including Moonves, who is said to be accused of sexual misconduct in the past.
CBS stock fell 4% as soon as the THR item came out. It closed down 6.1%, at $54.01 a share.
Moonves has been one of the most celebrated and well-respected executives in the television industry. A titan of broadcasting, he has guided CBS for the better part of twenty years.