CBS' board will keep Moonves in his job while two outside law firms investigate the complaints. During the April-to-June quarter net income at CBS jumped to $400 million, or $1.06 per share, from $58 million, or 14 cents per share last year. Moonves joined CBS in 1995 and quickly climbed the ranks, becoming CEO of CBS Television in 1998 and CEO of the newly created CBS Corp. in 2006 after its split from Viacom. CBS fears that the head of National Amusements, Shari Redstone, will try to combine CBS and Viacom. Under Moonves, New York-based CBS Corp. has resisted because CBS is more profitable and Viacom networks such as Nickelodeon struggle with viewership.

Source: ABC News August 02, 2018 13:11 UTC