ibusinesslines.com
ibusinesslines.com November 21, 2018


CBS negotiating Moonves' exit and Viacom merger standstill

09 September 2018, 11:28 | Kelvin Horton

CBS negotiating Moonves' exit and Viacom merger standstill

CBS negotiating Moonves' exit and Viacom merger standstill

Moonves, who has remained in charge despite the allegations against him, signed an employment contract in May 2017 that provides for a severance package worth almost $180 million if he is removed without cause.

These discussions are occurring as the company and its controlling shareholder Shari Redstone and National Amusements Inc are also hammering out a settlement to a legal dispute over the control of CBS.

Long viewed as a successor to Moonves, Ianniello was instrumental in CBS's success following its split from Viacom in 2006.

The board of United States television giant CBS is negotiating a multi-million-dollar exit for CEO Leslie Moonves, accused of sexual misconduct by at least six women, USA media reported Thursday.

CBS shares were up more than 3 percent on Thursday following media reports of the possible settlement. CBS and NAI officials have declined to comment on talks between the two companies.


Six women who had professional dealings with Moonves told The New Yorker in an article published on July 27 that he sexually harassed them between the 1980s and late 2000s. Time's Up included a link to its own Go Fund Me page, urging CBS leaders to "use this money to provide power and justice to victims of abuse". Moonves is "entirely recused" from the investigation, the statement from the board said.

Moonves received a total compensation of $69.33 million in 2017, making him one of the highest paid USA executive.

A sticking point is Moonves' exit package, according to the report. It was not immediately clear if this could mean Moonves receives less than $100 million or anything at all.

During the company's August earning call, Moonves did not address the allegations and none of the Wall Street analysts on the call asked about it either.



Other News

Trending Now

Celtics Player Faces Strangulation, Kidnapping Charges In Alleged Assault
The Boston Celtics shooting guard was detained by Boston police after what's being described as a domestic incident. Boston police say Bird is facing charges including assault and battery, strangulation and kidnapping.

Donald Trump to Supporters: If You Don't Vote, I Might Get Impeached
Really, really unfair for the midterms", Trump told reporters travelling with him aboard Air Force One. His campaign operation has scheduled back-to-back rallies late next week in Missouri and Mississippi.

Australian police probing up to five bodies found in Perth house
Mr Steele called the discovery "heartbreaking" and said the tragedy would send a ripple through the wider community. The age and gender of those found has not yet been revealed, although it is thought "there was at least one woman".

View from Away: Kavanaugh hearings a disservice to our country
While she's never voted against a Supreme Court nominee, Collins has vowed to reject a candidate who's hostile to the Roe v. Supreme Court nomination, as the senator admitted she wasn't swayed by a leaked 2003 email in which Kavanaugh said Roe v.

Hey BMW: BMW Intelligent Personal Assistant Is Proprietary In-Car AI
It all combines to create an owner's BMW ID, which the brand said "links the vehicle to the customer and their digital world". Of course, Alexa, Amazon's personal assistant, is available in several brands, including Ford, Toyota, Lexus and Hyundai.

Obama On New York Times Op-Ed: 'This Is Not Normal'
With such a wide circle of potential suspicion, Mr Trump's men and women felt they had no choice but to speak out. There was no way to know, and that only deepened the president's frustrations.

Here's the official Google Pixel 3 launch date
Google is most likely to announce its upcoming flagship Google Pixel 3 , which has been leaked inside out, in the event. Moreover, both handsets will also feature dual-lens front-facing cameras as well as a single rear shooter.