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The CBS board of directors said on Friday that it will investigate allegations of “personal misconduct” against its CEO, Leslie Moonves.
The announcement came shortly after The Hollywood Reporter published an article quoting unnamed sources that said The New Yorker is close to publishing a story that will include allegations of sexual misconduct against Moonves.
“All allegations of personal misconduct are to be taken seriously,” a spokesperson for CBS wrote in an email. “The Independent Directors of CBS have committed to investigating claims that violate the Company’s clear policies in that regard. Upon the conclusion of that investigation, which involves recently reported allegations that go back several decades, the Board will promptly review the findings and take appropriate action.”
Efforts by NBC News to reach Moonves for comment were unsuccessful.
The New Yorker article, which is yet to be published, was reportedly written by Ronan Farrow, a former NBC News correspondent, who has written a series of articles on high-profile individuals accused of sexual harassment.
A spokesperson for The New Yorker said the magazine does not comment on pieces that have not been published.
CBS stock dropped sharply after The Hollywood Reporter published its article, down more than 7 percent in midday trading.
The article comes at a difficult time for CBS and Moonves, who is in the midst of a legal battle against CBS’s controlling shareholder, National Amusements. A spokesperson for National Amusements also declined to comment.
“The timing of this report comes in the midst of the Company’s very public legal dispute,” the CBS spokesperson said. “While that litigation process continues, the CBS management team has the full support of the independent board members. Along with that team, we will continue to focus on creating value for our shareowners.”
A spokesperson for Condé Nast, the parent company of The New Yorker, declined to comment.