New York, July 28 (AP/UNB) — CBS said Friday it is investigating personal misconduct claims after the company's chief executive, Les Moonves, was the subject of a New Yorker story detailing sexual misconduct allegations.
The media company said independent members of its board of directors are "investigating claims that violate the company's clear policies" regarding personal misconduct.
CBS Corp.'s stock fell 6 percent — its worst one-day loss in nearly seven years — as the reports of the misconduct allegations began to circulate around noon Friday, triggering investor concerns Moonves might be forced to step down. The CBS chief has been a towering figure in television for decades, credited with turning around a network that had been mired for years at the bottom ratings.
The New York-based company did not mention Moonves by name but said it issued a statement in response to the New Yorker article, which was published on the magazine's website late Friday. The article was written by Ronan Farrow, who wrote a Pulitzer Prize-winning story last year for the same magazine uncovering many of the allegations against Hollywood producer Harvey Weinstein
The article says six women who had professional dealings with Moonves say he sexually harassed them between the 1980s and late 2000s. Four of the women described forcible touching or kissing during business meetings, it says, while two said that Moonves physically intimidated them or threatened to derail their careers.
Among the women quoted in the article were the actress Illeana Douglas, writer Janet Jones and producer Christine Peters. Farrow told The Associated Press that all the women quoted in the article had to overcome "a lot of fear of retaliation to tell very serious stories of sexual misconduct about Les Moonves."
Moonves acknowledged in a statement that there were times decades ago when he may have made some women uncomfortable by making advances. But he says, "Those were mistakes, and I regret them immensely."
He said that he never misused his position to harm or hinder anyone's career.
The New Yorker article also said a culture of misconduct extended from Moonves to other parts of the corporation, including CBS News. It said men in that division who were accused of sexual misconduct were promoted, even as the company paid settlements to women with complaints.
CBS said that once the investigation by its independent board members is completed, the full corporate board will review the findings and "take appropriate action."
It took issue in a statement with the New Yorker article, however, for not accurately representing "a larger organization that does its best to treat its tens of thousands of employees with dignity and respect."
Mooves is the latest media giant to become embroiled in sexual misconduct allegations since the downfall of Weinstein in October triggered the #metoo social media movement.
In November, CBS fired veteran news host Charlie Rose over allegations he had groped women, walked naked in front of them and made lewd phone calls. Rose has apologized for his behavior but questioned the accuracy of some of the claims.
In December, Moonves joined a meeting of chief executives of nearly every major Hollywood studio, TV network and record label to establish a commission to comb sexual misconduct in the industry. They agreed to fund the Commission On Sexual Harassment and Advancing Equality in the Workplace, and chose Anita Hill to chair it.
The allegations come as CBS is in the middle of a legal battle with its controlling shareholder, National Amusements, which has been pushing for a merger with Viacom, also controlled by National Amusements.
CBS and Viacom were once part of the same company, known as Viacom, but were split in 2005 into separate entities, both controlled by Sumner Redstone. His daughter, Shari Redstone, has been pushing to reunite the companies under one corporate umbrella. Moonves has been opposed to the deal.
CBS said its current "management team has the full support of the independent board members" in the ongoing litigation involving National Amusements. The legal case is being played out in Delaware court.
National Amusements jumped into the controversy with a statement denying what it called "the malicious insinuation that Ms. Redstone is somehow behind the allegations of inappropriate personal behavior by Mr. Moonves or today's reports."
"Ms. Redstone hopes that the investigation of these allegations is thorough, open and transparent," the company said.
Moonves, one of the most powerful executives in media, has led CBS for two decades, including the 12 years since it split from Viacom.
He revived the company, which operates the CBS network, Showtime and other entities, with hit shows like "NCIS" and "The Big Bang Theory."
He also introduced separate streaming CBS and Showtime services as more people "cut the cord" and watch TV online. The network consistently tops in prime-time ratings.
While CBS's stock took a hit, Viacom's rose sharply as investors anticipated that a combination of CBS and Viacom could become more likely should Moonves be forced out. Viacom closed up 4.6 percent.
Moonves was the No. 2 highest paid CEO of a major public company in 2017, according to an analysis by The Associated Press and Equilar, an executive data firm. He made $68.4 million last year, behind only chip maker Broadcom's CEO.
Before joining CBS, he was president of Warner Bros. Television, where he oversaw the development of hit TV shows "Friends" and "ER."
Moonves, who is married to TV personality and CBS producer Julie Chen, was inducted into the Television Academy Hall of Fame in 2013. He also won the Milestone Award from the Producers Guild of America that year.
New York, Jul 26 (AP/UNB) — Facebook may be heading for its worst day on the markets in its history a day after the company revealed that user growth, amid swirling questions about how their information is used, has slowed.
The stock plunged 19 percent in early trading Thursday, eradicating well in excess of $100 billion in market value.
The social media company's financial results, released late Wednesday, fell short of Wall Street expectations as the company continues to grapple with privacy issues. It also warned that revenue would decelerate as it promotes new products
Facebook had 2.23 billion monthly users as of June 30, up 11 percent from a year earlier, but well short of what industry analysts had been expecting.
The results are from the first full quarter following the revelation of the Cambridge Analytica privacy scandal. The company is also contending with European privacy rules that went into effect in May.
Dhaka, July 25 (UNB)- A Chattagram resident, Shima Shill, got the second brand new car by registering her purchased 15 cft refrigerator of Walton brand under the ongoing nationwide ‘Eid Mega Digital Campaign’.
Earlier this month, a member of Bangladesh Police named Aradhon Chandra Saha got the first brand new car by purchasing and registering an 8 cft Walton fridge under the campaign.
On Sunday last Shima, a housewife, purchased a 15 cft refrigerator at Tk 30,000 from Messrs Labib Marketing, an exclusive outlet of Walton in Kalurghat, Chattagram.
After purchasing the refrigerator, Shima registered the purchased refrigerator through sending SMS from her mobile phone. Just after a minute, she got a return message from Walton in her mobile phone, and came to know that she was rewarded with a brand new car for buying and registering Walton brand refrigerator.
“When I got the message and read it out, I got speechless and astonished. It was hard to believe that I got a brand new car just for purchasing a refrigerator at Tk 30,000. I received any prize like this for the first time in my life,” she said in her reaction on getting the new car.
Md Humayun Kabir, executive director and head of distributor marketing of Walton, and Md. Rayhan, deputy executive director of Walton Group, handed over the car’s key to Shima Shill at the Walton outlet Labib Marketing of Kalurghat in Chattagram.
The function was attended, among others, by Walton Group’s Deputy Dirctor Shawkat Ali Saikat, Senior Assistant Director Md. Mirazul Haque, Chattagram Zone Area Manger Md. Shakhwat Hossain , Deputy Director Rakibul Hossain, Proprietor of Walton Exclusive showroom Labib Marketing Md. Shakhwat Hossain and other senior officials of the company.
Dhaka, July 25 (UNB) – Bangladesh has invited German manufacturers to invest more in the country taking the advantages its offers.
State Minister for Foreign Affairs M Shahriar Alam discussed the issue with outgoing German Ambassador in Dhaka Dr Thomas Prinz on Wednesday.
He mentioned that Bangladesh if not the best place, it is a better place to invest, said the Foreign Ministry here.
German Ambassador informed that Siemens is going to make a huge investment in Payra Port for production of LNG based electricity.
State Minister hoped that German company would not only produce goods but also enhance knowledge base and transfer technology to Bangladesh.
Shahriar thanked the outgoing Ambassador for his constructive role in developing the bilateral relations between Bangladesh and Germany from where they launched broad-based partnership ranging from trade and investment to the implementation of sustainable development goals (SDGs).
Ambassador Prinz praised the bold leadership of Prime Minister Sheikh Hasina and her government for giving shelter to the Rohingya people who escaped atrocities in Myanmar.
He also lauded the generous attitude of Bangladeshi people towards the Rohingya people.
In reply, State Minister briefed the present situation in Rohingya camps and initiatives taken by government to cope up the natural calamities during this rainy season.
He also thanked the German government for its continuous support in crisis management and in political process top insure sustainable return of the Rohingya people top their ancestral home in Rakhine state.
State Minister expressed satisfaction at the implementation of the commitment of the Prime Minister regarding engagement of Veridos GmbH in the e-passport project.
He wished the German diplomat success and good health; and requested him to act as goodwill ambassador of Bangladesh wherever he goes.
Dhaka, July 25 (UNB)- Samsung Electronics has launched its ‘Dura Cool Chest Freezers’ in Bangladesh. The unveiling of these refrigerators took place recently at the Transcom outlet, Uttara. At present, 3 variants of the chest freezers are available.
The capacity starts from 205L and the price starts from BDT 39,900.
Samsung Dura Cool freezer comes with cool packs which help to keep the food frozen for up to 9 hours during unexpected outages. A Cool Pack feature maintains an internal temperature below 0℃ to stop food from defrosting and going to waste. To ensure the better food organization inside the freezer, the cool pack is being placed vertically.
The freezer also handles electrical inconsistencies with ease. Even in the case of voltage fluctuations, the Voltage Control feature stabilizes power to protect the freezer and everything within. Even at a low 135 volts, the freezer will operate uninterrupted, ensuring food stays frozen.
Seungwon Youn, managing Director of Samsung Bangladesh and Shahriar Bin Lutfor, head of business (CE & IT) were present at the unveiling session along with the other officials of Samsung and Transcom, one of its distributors in Bangladesh.