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00:00:00
>> In light of pending litigation and other matters, and on the advice of counsel, the scope of today's call and any questions will be limited to the quarterly results of the company.>> Business as usual during CBS's quarterly earnings call on Thursday, as the media giant investigates sexual misconduct allegations against its CEO, Les Moonves, who was on the call and presented an upbeat review of the company's performance.
00:00:24
>> We're as confident as ever that the strategy we have in place is setting us up for continued long term success.>> Reuters correspondent, Carl O'Donnell.>> Despite the fact that the New Yorker raised very serious aligations around a week ago, CBS is still content to have Les Moonves as the public face of their company.
00:00:41
>> We feel very good about our record results today, and even better about CBS gross story for the future.>> The tone of the earnings call today is just one more data point that seems to suggest that Les Moonves has a pretty strong grip on his board. Earlier this week, the board announced that they were gonna conduct an investigation of the New Yorker's allegations, but that no further action would be taken, meaning that Moonves would retain his role.
00:01:04
>> The accusations against Moonves follows CBS' speedy ouster of Charlie Rose last fall for allegations of sexual misconduct. And compared to other chief executives, Moonves has received different treatment.>> Possibly the most surprising thing about how CBS has handled the Les Moonves allegations is the fact that it's just so different from how other companies in similar recent situations have dealt with them.
00:01:27
Wynn Resorts quickly saw the CEO Steve Wynn step down after being the target of similar claims. Harvey Weinstein's company, obviously quickly parted ways with him and put itself up for sale.>> In addition to investigating Moonves, CBS is fighting to seize control from majority shareholder Shari Redstone, daughter of media mogul Sumner Redstone, who wants a merger with Viacom.
00:01:51
Yeah, and the company's results topped Wall Street's estimate. Shares of CBS were flat in after market trading.