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New expose puts Moonves' $120M CBS severance at risk

Published 11/28/2018, 06:09 PM
© Reuters. New expose puts Moonves' $120M CBS severance at risk
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  • A new expose in The New York Times about misconduct allegations around former CBS chief Les Moonves could cost him the $120M severance on the line following his September exit from the company.
  • The story brings up a new report of sexual assault from 25 years ago and comment from a show business manager that Moonves last December discussed the possibility of getting the actress involved, Bobbie Phillips, a new acting gig to keep her happy.
  • “I think I’ll be O.K.,” Moonves said, according to a sworn statement by manager Marv Dauer. “But if Bobbie talks, I’m done.”
  • Word that Moonves was pushing for new work for Phillips was key to the board's decision that Moonves needed to be forced out of the job, according to the story.
  • CBS is down 1.6% after hours.
  • Previously: CBS erases losses on word it will test market after Moonves probe (Oct. 08 2018)
  • Previously: CBS gets subpoenas on Moonves, related matters (Sep. 28 2018)
  • Now read: Tiffany -6% after same-store sales miss


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