Insiders

CBS to look for potential buyers after Moonves probe ends - Fox journalist

October 08, 2018 at 05:23 pm EDT

(Reuters) - CBS Corp would look for potential buyers for the cable company after a probe on its former Chief Executive Officer Leslie Moonves ends, a Fox journalist tweeted on Monday.

Moonves, who stepped down last month following allegations of sexual harassment, had opposed efforts by controlling shareholder Shari Redstone and her father Sumner Redstone to merge CBS with Viacom Inc, another company they own.

"CBS board will also soon begin to test the market for a potential buyer after conclusion of Moonves probe," Charles Gasparino, a Fox Business Network journalist, tweeted https://twitter.com/CGasparino/status/1049381169253507073.

Shares of the company closed up 3 percent at $57.04 on Monday.

Gasparino also tweeted that CBS interim CEO Joe Ianniello is one of the front runners for the top job.

CBS declined to comment to a request from Reuters.

Long viewed as a successor to Moonves, former chief operating officer Ianniello was instrumental in the company's success after its split from Viacom in 2006.

He has overseen CBS's transformation from traditional television and radio broadcaster to a supplier of shows to digital platforms and the launch of its own streaming TV service.

(Reporting by Vibhuti Sharma in Bengaluru; Editing by Arun Koyyur)

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
PARAMOUNT GLOBAL	12.04 USD	+9.80%	+9.85%	7.59B
VIACOM INC.	- USD	-.--%	+0.37%	9.86B
LINE CORPORATION	5,350 JPY	-.--%	-0.19%	12.52B

Leslie Moonves

Leslie Moonves is a businessperson who has been the head of 13 different companies. He holds the position of Chairman for CBS Global Distribution Group, Chairman at CBS Radio, Inc., President & Chief Executive Officer of CBS Operations, Inc. and Chief Executive Officer at CBS Broadcasting, Inc. He is also on the board of 6 other companies. Mr. Moonves previously held the position of Chairman & Chief Executive Officer of ViacomCBS, Inc. Chief Executive Officer of CBS Broadcasting, Inc. Co-President & Co-Chief Operating Officer at Viacom, Inc. and President at CBS Entertainment Services, Inc. (which are all subsidiaries of ViacomCBS, Inc.), Chairman at OUTFRONT Media, Inc., President at Hollywood Radio & Television Society, President for Lorimar Telepictures Corp., President at Warner Bros. Television Production, Inc., Vice President-Movies at Twentieth Century Fox International Television, Inc. and Co-Chairman-Governors Board at The Paley Center for Media. Leslie Moonves received an undergraduate degree from Bucknell University.

View full profile

Linked companies
CBS Radio, Inc. CBS Radio, Inc. BroadcastingConsumer Services CBS Radio, Inc. engages in the operation of radio stations. The company was founded in 1928 and is headquartered in New York, NY.	Chairman
CBS Operations, Inc. CBS Operations, Inc. BroadcastingConsumer Services CBS Operations, Inc. owns and operates broadcast television stations. The company is headquartered in New York, NY.	Chief Executive Officer