via CNN:
CBS chief executive Les Moonves is exiting the company, effective immediately, amid a flurry of sexual misconduct allegations.
The announcement on Sunday evening ends his 20-year tenure atop one of the country’s most important media empires
It also concludes a months-long battle for control of CBS between Moonves and the company’s controlling shareholder, Shari Redstone. The CBS board is being reshaped, with six new directors, and Redstone is repeating her vow to consider new bids from potential buyers.
The shakeup may position CBS for a sale. But the company is also facing some continued reputational risk. There is widespread scrutiny about the prospect of Moonves being paid tens of millions of dollars on his way out the door.
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