Les Moonves, Longtime CBS CEO, Steps Down: Reports

NEW YORK, NY — Facing several sexual misconduct allegations spanning decades, longtime CBS CEO Les Moonves has resigned as head of the network. CNN initially reported Sunday that he would resign under a corporate settlement and that the network's board of directors would probably make an announcement Monday morning. CNN said the settlement was part of a separate months-long dispute between Moonves and Shari Redstone, CBS's controlling shareholder, over control of the network.

Hours after that news broke, multiple media outlets reported that Moonves would leave the company, effective immediately. His exit ends a months-long power struggle for control of the network between Moonves and Shari Redstone, the controlling shareholder of CBS, according to CNN.

The news comes hours after six more women came forward to The New Yorker with sexual misconduct allegations against Moonves. That followed the magazine's first explosive story, in which six women accused him of sexual harassment and misconduct spanning several decades.

Moonves could take in as much as $100 million as part of the deal, CNN reported.

BREAKING: It's a done deal. Les Moonves is stepping down from CBS as part of a wide-ranging corporate settlement. The deal is expected to be announced by Monday morning. https://t.co/nV57srRMjq
— Brian Stelter (@brianstelter) September 9, 2018

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