But this one is different.
When Harvey Weinstein was brought down it was a huge story. Here was one of the most powerful figures in Hollywood dethroned and exposed. But see, here’s the thing: His company was losing money. He no longer had the clout he once had. And as a result, his inglorious exit from the business had little or no affect on it.
Matt Lauer and Charlie were high profile personalities. Their shows didn’t nose dive upon their departures. Kevin Spacey was removed from a movie he had already shot and his replacement received an Academy Award nomination. Spacey’s TV series goes on without him.
Ah, but CBS…
Les Moonves has done a spectacular job of leading CBS. And with the current corporate showdown with Viacom, his presence at the helm is more vital now than ever. Les Moonves has made a lot of money for the shareholders. And CONTINUES to make a lot of money. So it’s not so easy for the board to just say, “We’re shocked! We can’t have this! He has to go! Banish him!” No. The absolute last thing the board wants to do is replace Les Moonves.
On the other hand, the case against him appears strong enough that if he’s not removed there will be public outrage. Does the CBS board want to weather that shitstorm?
If Les steps down would CBS collapse? Of course not. Their stock will dip and my guess is creatively the organization will suffer considerably. The stock has already gone down 11% since Friday. There is no succession plan in place. So things will be chaotic. But CBS will survive. Apple has done okay since Steve Jobs passed away. Disney didn’t disappear after Walt went the way of Bambi's mother. And there’s still Warner Brothers without, well… the Warner brothers.
But this is a big test for Hollywood. Money vs. principles.
The CBS Board yesterday voted not to act on the matter, instead saying they would select outside counsel to conduct an investigation and then determine their course of action. In other words, it buys them time. They could either work out an exit strategy or find some way to excuse the charges and go forward with Les. And buying time puts distance on the story. In another month Trump will undoubtedly do something else appalling or idiotic and the country will be up in arms over that. Or, by that time, he will have done seven heinous things.
So stay tuned. There is obviously more to this story.
Julie Chen, by the way, is standing by her husband. Of course CBS is the network that aired THE GOOD WIFE.
from By Ken Levine
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