What the #MeToo Allegations Mean for CBS

Enlarge this image

Enlarge this image

"Women, who for the past year have felt empowered to tell their stories in ways they haven't before, which is an objectively good thing, because, and it's unusual to have to say this, powerful men taking sexual advantage of relatively powerless employees are wrong", Colbert said.

The article was in a "quality publication", The New Yorker, in which six women accused Moonves of "forcible" acts like touching and "violent kissing".

CBS's share price saw a small spike at the board announcement about Moonves, which came just before the market closed.

Moonves acknowledged making advances that may have made women uncomfortable but said he never misused his position to harm or hinder anyone's career. We do not believe, however, that the picture of our company created in The New Yorker represents a larger organization that does its best to treat its tens of thousands of employees with dignity and respect. He is expected to remain the chief executive while the board conducts an outside investigation into allegations against Moonves.

CBS CEO Les Moonves is the subject of Ronan Farrow's latest #MeToo movement bombshell. "I issued the one and only statement I will ever make on this topic on Twitter, and I will stand by that statement today, tomorrow, forever".

Additionally, the CBS board postponed its upcoming annual meeting of stockholders that was previously scheduled for August 10. He compares his ongoing surprise at all the boldface names who have been accused, with women's ongoing relief that the shroud covering up this behavior is finally being lifted. She is a former CBS news anchor who also hosts the "Big Brother" reality show. For some time, the board has been split between those loyal to Moonves and Redstone, whose family owns a controlling stake in both companies. "All allegations of personal misconduct are to be taken seriously", they said in a statement.

While this segment was completely serious, Colbert did crack a few jokes about the Moonves allegations during his monologue, which you can check out below. Kirgo stated she believed rejecting the CBS CEO's advances hurt her career. "This is a time when we all are appropriately focused on how we help improve our society, and we at CBS are committed to being part of the solution", he continued.

Corporate governance experts said there could be several reasons why CBS's board may not want to fire Moonves, including its fiduciary duty to shareholders to minimize the company's legal liabilities.

RBI increases repo rate by 25 bps to 6.50%
Johnson bounces back to win first Canadian Open crown