Showbiz Sandbox 418: Fighting For Control of His Company, CBS Head Les Moonves Is Now Fighting to Keep His Job

July 30, 2018

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The challenge for CBS of fending off an unwanted merger with its parent company, Viacom, was made all the more difficult last week when the New Yorker published a story in which the broadcaster’s longtime CEO, Les Moonves, was accused of sexual misconduct by six women. The company now has to determine how to handle the allegations not only of Moonves, an influential executive who is credited with CBS’s success, but also the claim that a culture of sexual harassment exists throughout the organization.

Speaking of companies that are having chaotic weeks, MoviePass seems to be on the brink of collapse (i.e. bankruptcy). Apparently they ran out of money, borrowed $5 million to keep the lights on, changed their rules again and decided pretty much no one gets to see “Mission Impossible”.

The turmoil for some entertainment and tech companies extends beyond their own walls all the way to Wall Street where stock prices have become volatile and seem to defy any sense of logic. Shares of companies with solid profits have plumeted, while at the same time the prices for those losing money, like Spotify, have risen.

Of course we also cover the week’s top entertainment news including producer Kenya Barris’ nine-figure deal with Netflix, Jeffrey Katzenberg raises $1 billion for a new entertainment venture and “Hamilton” may soon be headed into movie theaters, but not how you might expect.

Netflix Nabs Andy Serkis’ ‘Mowgli’ From Warner Bros.
https://variety.com/2018/film/news/mowgli-andy-serkis-netflix-1202888286/

comScore Announces Official Worldwide Box Office Results for Weekend of July 29, 2018
https://www.prnewswire.com/news-releases/comscore-announces-official-worldwide-box-office-results-for-weekend-of-july-29-2018-300688201.html

Viacom Inks Deal for Nickelodeon Indoor Theme Park in China
https://www.hollywoodreporter.com/news/viacom-inks-deal-nickelodeon-indoor-theme-park-china-1129708

‘Detective Dee 3’ Unveils Huayi’s New Theme Park
http://www.china.org.cn/arts/2018-07/26/content_57829834.htm

MoviePass Crashed Because It Ran Out of Money – and Future Looks Uncertain
https://www.theguardian.com/film/2018/jul/28/moviepass-app-tickets-cinema

‘Charlie’s Angels’ Reboot: Naomi Scott, Ella Balinska Join Kristen Stewart
https://www.hollywoodreporter.com/heat-vision/charlies-angels-reboot-naomi-scott-ella-balinska-join-kristen-stewart-1129993

‘Frasier’ Reboot Being Explored By Kelsey Grammer & CBS TV Studios
https://deadline.com/2018/07/frasier-reboot-explored-kelsey-grammer-cbs-tv-studios-1202432451/

Okay Fine Whatever by Courtenay Hameister
http://bookfilter.com/2017/06/09/okay-fine-whatever/

IQ by Joe Ide
http://bookfilter.com/2018/05/01/iq-4/

Les Moonves and CBS Face Allegations of Sexual Misconduct
https://www.newyorker.com/magazine/2018/08/06/les-moonves-and-cbs-face-allegations-of-sexual-misconduct

Leslie Moonves Accused of Sexual Misconduct in Ronan Farrow Exposé
https://www.hollywoodreporter.com/news/leslie-moonves-accused-sexual-misconduct-ronan-farrow-expose-1130268

CBS Board to Meet Monday to Consider Moonves’ Fate, Set Investigation Plans
https://variety.com/2018/biz/news/leslie-moonves-cbs-board-meeting-sexual-assault-1202889453/

Media Industry Has Highest Incidence of Sexual Harassment Among White-Collar Workers, Survey Finds
https://variety.com/2018/biz/news/media-industry-sexual-harassment-survey-1202884052/

Chris Hardwick Will Return to ‘Talking Dead’ After AMC Investigation
https://www.hollywoodreporter.com/live-feed/chris-hardwick-will-return-talking-dead-amc-investigation-1129835

Kenya Barris Officially Exits ABC Studios Pact, Eyes Nine-Figure Netflix Mega-Deal
https://www.hollywoodreporter.com/live-feed/kenya-barris-exits-abc-deal-eyes-move-netflix-1105989

IATSE and Producers Reach Tentative Contract Agreement
https://www.hollywoodreporter.com/behind-screen/iatse-producers-reach-tentative-contract-agreement-1130145

Mid-Year Touring Report: Will Slow And Steady Ticketing Win The Race?
https://www.billboard.com/articles/business/8466369/midyear-touring-report-top-venues-highest-grossing-tours

Nicole Kidman nabs TV, film rights to Nine Perfect Strangers
https://www.rapidtvnews.com/2018072852961/nicole-kidman-nabs-tv-film-rights-to-nine-perfect-strangers.html

Katzenberg Closes $1BN Funding for Short-Form Content Company, New TV
https://www.rapidtvnews.com/2018072852963/katzenberg-closes-1bn-funding-for-short-form-content-company-new-tv.html

Hamilton Movie Won’t Be Released Until At Least 2020
https://www.theguardian.com/film/2018/jul/25/hamilton-movie-released-2020-lin-manuel-miranda

Technicolor to Shut Down Feature Film Sound Division Amid Restructuring (Exclusive)
https://www.hollywoodreporter.com/behind-screen/technicolor-shut-down-feature-film-sound-division-restructuring-1129808

Carrie Fisher Will Appear in Next ‘Star Wars’ Film
https://www.nytimes.com/2018/07/27/movies/carrie-fisher-star-wars-film.html

Spotify Hits 83 Million Premium Subs in Q2, as Net Loss Doubles
https://variety.com/2018/digital/news/spotify-q2-2018-subscribers-revenue-gdpr-1202886701/

Facebook Comes Up Short in Key Earnings Metrics, Stock Falls
https://www.hollywoodreporter.com/news/facebook-falls-short-key-earnings-metric-stock-falls-1129842

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