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Report: CBS in talks to replace embattled CEO Les Moonves

Les Moonves
Photo by Andrew Toth/FilmMagic

CBS' board is in talks with CEO Les Moonves, who is facing allegations of sexual harassment, to negotiate a $100 million exit package made up of CBS stock and the appointment of COO Joe Ianniello as his interim successor, reports CNBC.

The big picture: CBS launched its own investigation into the allegations first reported by The New Yorker's Ronan Farrow, but the media giant appeared to back Moonves by allowing him to to lead its second quarter earnings call last month.