logo-loader

CBS shares fall on news of exposé alleging sexual misconduct by CEO Les Moonves

Last updated: 03:24 28 Jul 2018 AEST, First published: 03:12 28 Jul 2018 AEST

CBS sign
Farrow is the journalist behind the Harvey Weinstein story

Shares of media giant CBS Corporation (NYSE:CBS) are sinking on news that its CEO is accused of sexual misconduct.

Chief Executive Leslie Moonves will be the subject of an upcoming Ronan Farrow piece in The New Yorker, as per a CNBC report. Farrow is the Pulitzer Prize-winning journalist behind the Harvey Weinstein exposé that spurred the #MeToo movement.

The article claims that Moonves was involved in inappropriate and unwanted sexual behavior in events that date back 20 years.

Shares of CBS were down more than 7% to US$53.30 in Friday afternoon trading.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

8 hours, 28 minutes ago