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CBS to weigh sale post Moonves probe; Ianniello a frontrunner for CEO

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CBS to weigh sale post Moonves probe; Ianniello a frontrunner for CEO

CBS Corp. will focus on selling the company after the end of an ongoing probe into sexual misconduct allegations against former Chairman, President and CEO Les Moonves, FOX Business Network (US) journalist Charles Gasparino said in a tweet.

Gasparino added that CBS board members consider acting CEO Joseph Ianniello as a leading candidate for the top post at the broadcaster.

Moonves was still with CBS when the company had a legal dispute with majority shareholder National Amusements Inc., accusing the latter of breaching its fiduciary duty in pushing for CBS to merge with Viacom Inc. Both sides eventually reached a settlement for their litigation, with National Amusements saying it will not push for a CBS-Viacom merger for at least two years.

The former CBS CEO is being probed over allegations that he sexually assaulted and threatened six women, as detailed in a July 27 article in The New Yorker. He has said he "may have made some women uncomfortable by making advances," but never used his position to harm anyone's career.

Moonves resigned amid the probe, with CBS naming Ianniello as president and acting CEO.

More recently, CBS named Richard Parsons as interim board chairman. The company had said the post of board chairman will remain vacant while the CBS board searches for a permanent CEO.