The CBS CEO, one of the most powerful men in Hollywood, is accused of unwanted kissing and touching in a New Yorker article set to be published Friday. 
 
 The New Yorker is poised to publish an article by Ronan Farrow that includes allegations of sexual misconduct on the part of embattled CBS chairman and CEO Leslie Moonves, The Hollywood Reporter has learned. 
 
 A spokesperson for The New Yorker says, “We don't comment on pieces we haven't published." Sources with knowledge of the article say it delves into the broader culture at CBS and will publish later today on the magazine’s website. 
 
 CBS said that it is investigating the claims made against Moonves. “All allegations of personal misconduct are to be taken seriously," the network stated. "The Independent Directors of CBS have committed to investigating claims that violate the Company’s clear policies in that regard. Upon the conclusion of that investigation, which involves recently reported allegations that go back several decades, the Board will promptly review the findings and take appropriate action.” 
 
 CBS added: “The timing of this report comes in the midst of the Company’s very public legal dispute. While that litigation process continues, the CBS management team has the full support of the independent board members. Along with that team, we will continue to focus on creating value for our shareowners.” 
 
 The allegations are said in part to involve instances of unwanted kissing and touching that occurred more than 20 years ago, as well as numerous claims that occurred more recently. 
 
 Moonves, 68, has been married to CBS personality Julie Chen since 2004. (The two wed less than two weeks after Moonves finalized his divorce from Nancy Wiesenfeld, whom he had married in 1978.) 
 
 Farrow, the reporter who won a Pulitzer Prize for breaking news of Harvey Weinstein’s alleged pattern of rape and sexual assault, is said to have investigated Moonves and the environment at CBS for months, as rumors swirled through the industry that such an article was in the works. 
 
 It is unclear what impact The New Yorker report will have at a time when Moonves is locked in litigation with Shari Redstone, the controlling shareholder in both CBS and Viacom. The feud erupted after CBS resisted Redstone’s desire to merge the two companies, which she controls through voting shares in the Redstone family-controlled trust, National Amusements Inc. 
 
 CBS sued Redstone in May to prevent her from attempting to take control by ousting directors or changing bylaws. Redstone responded with her own lawsuit saying Moonves had no right to strip her of control of CBS. 
 
 CBS received unwelcome scrutiny in November when it fired Charlie Rose after The Washington Post reported that eight women had accused the talk-show host and co-anchor of CBS This Morning of sexual misconduct. In a May 3 follow-up, the paper reported that CBS managers had been warned about Rose's conduct on three occasions, as early as in 1986 (long before Moonves worked at the network) and as recently as in April 2017. Among an additional 27 women who came forward with allegations against Rose were 14 CBS News employees. 
 
 A charismatic one-time actor, Moonves has long wielded exceptionally tight control over CBS while producing exceptional results. He has kept hits on the air during a turbulent time for the broadcast business: In 2017, CBS ranked as the most-watched network in terms of total viewers (as it had done for nine consecutive years), though it trailed NBC in the 18-to-49 demo. 
 
 With entertainment consumption habits changing quickly, Moonves launched the CBS All Access streaming service with a spinoff of The Good Wife and a revamped Star Trek series. 
 
 Moonves joined CBS in 1995 and remained there after Sumner Redstone acquired the company in 2000. He took the network from last to first place in the ratings with hits including Everybody Loves Raymond, Survivor and CSI: Crime Scene Investigation. 
 
 In 2006, when Viacom split its businesses into two publicly traded companies, Moonves was named president and CEO of the newly formed CBS Corp. He became chairman in 2016. 
 
 Moonves has a close-knit executive cadre working for him but he is known to demand great loyalty and he has made enemies along the way. When Howard Stern jumped from CBS Radio to Sirius Satellite, Moonves sued the shock jock for $500 million, prompting Stern to go on CBS’ own Late Show wearing an “I Hate Les Moonves” shirt. ||||| UPDATED with comment from Shari Redstone 
 
 CBS says it will investigate allegations of misconduct against CEO Leslie Moonves amid reports of a forthcoming expose from The New Yorker magazine. 
 
 The company’s independent board issued a statement saying it takes allegations of misconduct seriously, without identifying Moonves. The statement comes ahead of an anticipated report alleging that one the most powerful men in Hollywood is accused of unwanted kissing and touching. 
 
 “The Independent Directors of CBS have committed to investigating claims that violate the Company’s clear policies in that regard. Upon the conclusion of that investigation, which involves recently reported allegations that go back several decades, the Board will promptly review the findings and take appropriate action,” the directors said in a statement. 
 
 CBS’s board notes that the timing of this report comes in the midst of the media company’s very public legal dispute with Shari Redstone and National Amusements in which the board is seeking to diminish the role of its controlling shareholder. Redstone had been the chief proponent of recombining corporate siblings CBS and Viacom, a merger the CBS board ultimately rejected. 
 
 National Amusements issued a statement, challenging some press reports that Redstone may have contributed to the article. 
 
 “The malicious insinuation that Ms. Redstone is somehow behind the allegations of inappropriate personal behavior by Mr. Moonves or today’s reports is false and self-serving,” Redstone said in a statement. One prominent media analyst, Doug Creutz, raised questions about the timing of the anticipated story, landing just two weeks ahead of the annual shareholder meeting and months ahead of the looming court battle in Delaware. He notes any board investigation would take time, and that Moonves would likely remain the company’s CEO until it’s completed. “If the claims turn out to have merit, then we would expect that Moonves would almost certainly be forced to step down from the CEO role and the board,” Creutz wrote. “This (a) sets up a very messy succession scenario and (b) greatly increases the likelihood that the Redstones prevail in their fight, with a probable outcome of (Viacom CEO) Bob Bakish eventually presiding over a recombined CBS/Viacom.” 
 
 The company’s stock took a nose-dive on the news, dropping 6% in midday trading to $54.04. 
 
 The New Yorker did not respond to Deadline’s request, seeking confirmation about the story — which is reportedly the product of months of investigation by Pulitzer Prize-winning journalist Ronan Farrow. His early work surfaced allegations of rape and sexual harassment by The Weinstein Co.’s co-founder, Harvey Weinstein. 
 
 Moonves is perhaps one of the most influential figures in entertainment, credited with reviving the once laggard CBS television network into a broadcasting powerhouse. Over the course of his tenure, the network has commanded top ratings and produced such hits as The Big Bang Theory, CSI: Crime Scene Investigation, SURVIVOR, Everybody Loves Raymond and The Late Show with Stephen Colbert. 
 
 Before joining CBS in 1995 as president of entertainment, Moonves was president of Warner Bros. Television, where his team developed such hit shows as Friends and ER and supplied the largest number of programs to network television for nine consecutive years. 
 
 The 68-year-old executive is married to Julie Chen, co-host of The Talk. ||||| A New Yorker article published Friday detailed allegations of sexual misconduct against CBS CEO Leslie Moonves. 
 
 The report cited six women who said the longtime media executive harassed them between the '80s and '00s. 
 
 Moonves said in a statement to CBS, "I recognize that there were times decades ago when I may have made some women uncomfortable by making advances. Those were mistakes, and I regret them immensely. But I always understood and respected — and abided by the principle — that 'no' means 'no,' and I have never misused my position to harm or hinder anyone's career." 
 
 His wife, Julie Chen, said she stands behind her husband. 
 
 Moonves' alleged behavior seeped into other major branches of CBS, The New Yorker reported, citing 30 current and former employees. 
 
 "60 Minutes" Executive Producer Jeff Fager was one of the people that allowed harassment to occur, 19 current and former employees told The New Yorker. Fager is also a former chairman of CBS News. 
 
 CBS said in a statement to the New Yorker that there have been no misconduct claims or settlements against Moonves during his career at the network. It also disputed the New Yorker's characterization of its workplace culture, saying it is "mindful of all workplace issues and takes each report of misconduct very seriously." 
 
 CBS shares fell as much as 7 percent Friday on the news of the upcoming expose. 
 
 CBS stock was at one point on pace for its worst daily performance since Oct. 2, 2011, when it dropped 7.02 percent, before paring losses slightly. The stock closed 6 percent down. 
 
 Farrow won a Pulitzer Prize for his reporting on media mogul Harvey Weinstein's longstanding patterns of sexual misconduct. The revelations ultimately spurred the #MeToo movement. 
 
 Farrow addressed the report Friday afternoon, before it was published, in a tweet, saying, "If you're reading about my work from secondary sources you're often not getting the full or correct story." 
 
 The allegations against Moonves follow CBS' ouster of Charlie Rose last fall for allegations of sexual misconduct. CBS directors said in a statement to CNBC, "All allegations of personal misconduct are to be taken seriously." 
 
 Moonves has opposed efforts by Shari Redstone to merge CBS with Viacom. Redstone's National Amusements is the principal shareholder of both companies, which had split into separate publicly traded corporations in late 2005. 
 
 Viacom shares jumped 4.5 percent on news of The New Yorker's article before easing off. 
 
 In May, CBS filed a lawsuit against Shari Redstone, her father Sumner Redstone and NAI alleging that NAI's proposed CBS-Viacom merger "is not in the best interests of CBS stockholders." The Redstone family later filed a complaint alleging that CBS had no legal right to strip them of voting privileges. 
 
 A trial date was set for Oct. 3 in Delaware Chancery Court. CBS' annual meeting was set for Aug. 10 in Pasadena, California. 
 
 Here's CBS' full statement: 
 
 "All allegations of personal misconduct are to be taken seriously. The Independent Directors of CBS have committed to investigating claims that violate the Company's clear policies in that regard. Upon the conclusion of that investigation, which involves recently reported allegations that go back several decades, the Board will promptly review the findings and take appropriate action. The timing of this report comes in the midst of the Company's very public legal dispute. While that litigation process continues, the CBS management team has the full support of the independent board members. Along with that team, we will continue to focus on creating value for our shareowners." 
 
 A spokesperson for Redstone gave the following statement to CNBC Friday afternoon, in response to the CBS statement: 
 
 "The malicious insinuation that Ms. Redstone is somehow behind the allegations of inappropriate personal behavior by Mr. Moonves or today's reports is false and self-serving. Ms. Redstone hopes that the investigation of these allegations is thorough, open and transparent." 
 
 — CNBC's David Faber and Marty Steinberg contributed to this report. 
 
 Read the full report in The New Yorker. ||||| A quick reminder that I don’t comment on reporting I haven’t published, and if you’re reading about my work from secondary sources you’re often not getting the full or correct story—especially in cases where parties have an interest in downplaying or otherwise spinning.
– Ronan Farrow, the journalist whose work helped bring down Harvey Weinstein, has another powerful figure in his sights: Leslie Moonves, the CEO of CBS. To be clear, the story in the New Yorker isn't out yet, but it's expected to be published Friday afternoon, per the Hollywood Reporter. Details are sparse so far, but THR says the piece will raise allegations against Moonves "of unwanted kissing and touching that occurred more than 20 years ago, as well as numerous claims that occurred more recently." CBS' independent board is already out with a statement, saying that it takes all such allegations seriously and is investigating the claims. "Upon the conclusion of that investigation, which involves recently reported allegations that go back several decades, the Board will promptly review the findings and take appropriate action." Moonves, 68, is "perhaps one of the most influential figures in entertainment," per Deadline, while THR calls him "one of the most powerful men in Hollywood." Even though the story has yet to publish, advance reports about it seem to be taking a toll: CBS shares were down 7%, reports CNBC. The story will publish with Moonves and CBS currently engaged in a nasty legal fight with Shari Redstone, controlling shareholder for both CBS and Viacom, who wants to merge the two companies. Both parties have sued each other in a bid for control, and while CBS shares were sinking, Viacom's were up 4.5%. As the buzz builds, Farrow tweeted this: "A quick reminder that I don’t comment on reporting I haven’t published, and if you’re reading about my work from secondary sources you’re often not getting the full or correct story—especially in cases where parties have an interest in downplaying or otherwise spinning."