NEW YORK—The resignation of longtime CBS chief Les Moonves won’t likely lead to drastic changes in network programs, but it could make the company ripe for a takeover as traditional media companies compete with upstarts such as Netflix and Amazon.
Moonves was ousted on Sept. 9, just hours after the New Yorker detailed more sexual misconduct allegations against him. A dozen women have alleged mistreatment, including forced oral sex, groping and retaliation if they resisted him. CBS is on the hook for $120 million in severance if its investigation, being conducted by two outside law firms, finds no evidence of wrongdoing. Moonves has denied wrongdoing.
