CBS Details Moonves Donations -- WSJ
December 15 2018 - 3:02AM
Dow Jones News
By Joe Flint
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (December 15, 2018).
CBS Corp. detailed where it plans to give part of the exit
package of Leslie Moonves, its former chairman and CEO who resigned
in September in the wake of allegations of sexual harassment.
The company on Friday said it would donate $20 million to 18
organizations dedicated to eliminating workplace sexual harassment,
a commitment it made after Mr. Moonves's resignation.
The $20 million figure will be deducted from any severance Mr.
Moonves would get from the company. The CBS board of directors is
wrapping up an investigation into Mr. Moonves's behavior and the
company's overall workplace culture that the board will use to
determine whether the former CEO will receive any of an estimated
$100 million exit package.
The 18 organizations include Time's Up Entertainment and the
Time's Up Legal Defense Fund, the National Women's Law Center,
Press Forward, New York Women's Foundation and Girls for Gender
Equity, CBS said.
Mr. Moonves faced new allegations of sexual harassment this
week, including from actress Cybill Shepherd, who in a radio
interview Thursday said her CBS sitcom was canceled after she
rebuffed Mr. Moonves's advances.
A spokesman for Mr. Moonves didn't immediately respond to a
request for comment. Mr. Moonves has previously said he regretted
behavior that made women uncomfortable but denied retaliating
against those who pushed him away. He also denied having
nonconsensual relations.
The investigation into Mr. Moonves's behavior was expected to be
concluded and reviewed by the board perhaps as early as this week.
The New York Times obtained a draft of the investigation that
revealed, among other things, that Mr. Moonves sought to prevent an
actress from coming forward with a complaint by getting her a role
on a show.
CBS confirmed another portion of the report in the New York
Times on Thursday that actress Eliza Dushku received a $9.5 million
settlement after she was taken off the drama "Bull" soon after she
complained about sexually charged comments by show star Michael
Weatherly. Ms. Dushku had to sign a nondisclosure agreement as part
of the settlement but she did speak to investigators. A spokesman
for the investigation said NDAs would be waived so people wouldn't
be restrained from coming forward.
The leaks have created problems for CBS and law firms Debevoise
& Plimpton LLP and Covington & Burling LLP that were
retained to lead the investigation. Mary Jo White, who is heading
the investigation for Debevoise & Plimpton, expressed regret to
the CBS board of directors Monday about the leak, according to a
person familiar with the matter.
In a joint statement, the organizations thanked CBS for its
donations. "We also recognize these funds are not a panacea, nor do
they erase or absolve decades of bad behavior." The organizations
added, "we look forward to receiving the full results of the
investigation into Mr. Moonves and an update on additional concrete
commitments that CBS -- and all organizations -- will make to
support lasting change."
CBS hasn't said whether it will publicly release any of the
findings of its investigation. While Mr. Moonves's exit agreement
includes a confidentiality clause, it also states that CBS can
release material if it determines that it has a fiduciary duty to
do so or that it is in the best interest of the company and its
shareholders.
Write to Joe Flint at joe.flint@wsj.com
(END) Dow Jones Newswires
December 15, 2018 02:47 ET (07:47 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Cbs Corp. (NYSE:CBS.WD)
Historical Stock Chart
From Sep 2024 to Oct 2024
Cbs Corp. (NYSE:CBS.WD)
Historical Stock Chart
From Oct 2023 to Oct 2024