LIZ: OKAY.
I KNOW WE JUST SAID CHARLIE
GASPARINO HAD BREAKING NEWS ON
THE SALE OF CBS BUT HE NOW HAS
NEWER NEWS ON THE SEXUAL
HARASSMENT PROBE THAT BOOTED
LONG-TIME CEO LES MOONVES OUT OF
THE NETWORK.
TWO PIECES.
START WITH THAT.
>> WE GOT OUR HANDS ON AN
OCTOBER 2nd MEMO TO EMPLOYEES
AND CBS LAYS OUT THE SEXUAL
HARASSMENT INVESTIGATION THAT
ENCOMPASSES NOT JUST MOONVES,
FROM WHAT I UNDERSTAND, OTHER
EXECUTIVES THAT HAVE BEEN FELLED
IN THIS WHOLE #METOO MOVEMENT.
YOU COULD SAY THAT'S CHARLIE
ROSE, FORMER LONG-TIME ANCHOR,
JEFF FAGER WHO RAN "60 MINUTES."
WE SHOULD POINT OUT ALL THREE OF
THEM DENY WRONGDOING BUT IN ANY
EVENT, WHAT THE COMPANY HAS SAID
TO EMPLOYEES IN AN OCTOBER 2nd
MEMO IS THAT IT'S INTERVIEWED
MORE THAN 150 PEOPLE AS PART OF
THIS PROBE.
LIZ: 150.
>> 150.
THEY ARE ASKING EMPLOYEES TO
COME FORWARD WITH ADDITIONAL
ALLEGATIONS AND GUARANTEEING
ANONYMITY, AND IT'S INTERESTING,
THEY ARE SAYING THAT THIS PROBE
IS CONTINUING RIGHT NOW ON ALL
FRONTS, THAT THEY GAVE NO
INDICATION OF WHEN THIS THING
MIGHT END.
IT'S APPARENTLY VERY
WIDE-RANGING ACCORDING TO THE
MEMO AND IT'S CONTINUING ON ALL
FRONTS.
NOW, HERE'S WHERE IT GETS
INTERESTING FOR THE SALE OF CBS.
THE SORT OF GUIDANCE WE ARE
GETTING FROM CBS INSIDERS IS
BEFORE THEY EVEN GO THAT ROUTE
AND SALE IS NOT GUARANTEED.
SOMEONE HAS TO BUY IT, THEY HAVE
TO COME TO TERMS, YOU KNOW,
WHO'S IN THE MARKET RIGHT NOW
FOR BUYING A MAJOR NETWORK.
MAYBE TECH COMPANIES BUT WHO
KNOWS.
THEY LIKE DEVELOPING THEIR OWN
PRODUCT, RIGHT?
AT & T OBVIOUSLY ISN'T, COMCAST
ISN'T IN IT.
THEY CAN'T GET BIGGER.
LIZ: NETFLIX?
IS THAT CRAZY?
>> THE INDICATIONS A LOT OF
PEOPLE GET IS TECH COMPANIES
LIKE CREATING THEIR OWN CONTENT,
NOT BUYING OLD MEDIA.
NOT SAYING IT'S DEFINITELY GOING
TO HAPPEN.
I'M TELLING YOU AFTER THIS
INVESTIGATION IS OVER, AFTER
THEY FIGURE OUT WHAT TO DO WITH
LES MOONVES'S SEVERANCE WHICH
WILL BE A HUGE CORPORATE EVENT
FOR CBS, THAT'S WHEN WE
UNDERSTAND THEY WILL
LEGITIMATELY GO OUT AND START
EXPLORING A POSSIBLE SALE.
NOW, WE SHOULD ALSO POINT OUT
THESE THINGS HAPPEN QUICKLY.
IF SOMEONE CAME TO THEM TOMORROW
AND OFFERED WHERE IS CBS TRADING
NOW?
LIZ: $57.54.
>> IF SOMEONE SAID WE WILL GIVE
YOU $67 A SHARE --
LIZ: THE ANNUAL HIGH WAS $61.59.
>> SOMEONE GIVES YOU SOMETHING
AROUND THE HIGH OR A LITTLE
MORE, LITTLE BIT OF PREMIUM ON
THAT, IF IT HAPPENS TOMORROW,
THINGS HAPPEN VERY FAST.
THE C.O.O. OF THE COMPANY IS A
VERY GOOD OPERATIONS MAN.
HE COULD SELL THE THING.
LIZ: WHAT ARE THE CHANCES THIS
PROBE OF THE BEGINNING, THEY
HAVE INTERVIEWED 150 PEOPLE,
MIGHT ENSNARE OTHER EXECUTIVES,
THE CBS TALENT EXECUTIVE IS ON
LEAVE FOR MAKING ALLEGED
HARASSING COMMENTS.
>> I DON'T KNOW ABOUT THAT
GENTLEMAN.
I DO KNOW THIS PROBE APPARENTLY
IS -- NOT APPARENTLY, FROM MY
SOURCES IN THE COMPANY, IS
BIGGER THAN MOONVES AND
WIDE-RANGING.
IT'S A LOT OF PEOPLE.
150 PEOPLE IS A LOT.
THESE ARE NOT JUST PEOPLE THAT
MADE ALLEGATIONS.
THESE ARE PEOPLE THAT HAVE BEEN
INTERVIEWED BY THE COMPANY
LAWYERS.
THEY HAVE TWO MAJOR FIRMS
LOOKING AT THIS.
THIS IS A BIG CORPORATE EVENT.
IT'S HARD, REALLY, JUST SO YOU
KNOW, IF YOU THINK THEY ARE
GOING TO SELL THEMSELVES
TOMORROW, JUST COMMON SENSE
HERE, IT'S HARD FOR THEM TO SELL
THEMSELVES.
LIZ: WITH THIS CLOUD.
>> WITH THIS HAPPENING.
BECAUSE IT'S ACTUALLY A
DISCLOSABLE EVENT, WHAT YOU WILL
DO WITH MOONVES' SEVERANCE, WHO
ELSE IS ENSNARED, YOU KNOW,
INVOLVED IN THIS WHOLE THING.
LIZ: BY ALL MEANS, DON'T LET
ANALYSTS ON THE CALL ASK ABOUT
IT OR THEY WILL BE SHUT OUT
FOREVER.
>> THAT WAS CRAZY.
THAT WAS CRAZY.
THE FACT THEY KEEP VISITING RICH
GREENFIELD, I KNOW THEY DON'T
LIKE HIM, THE GUY FROM ETIG BUT
AT SOME POINT, WHY --
LIZ: GOT TO ASK THE QUESTION.
>> WHY CAN'T EVERYBODY BE UP
FRONT, YOU KNOW WHAT I'M SAYING?
LIZ: IT'S MATERIAL TO THE STOCK
AT THIS POINT.
>> YES.
YES.
HERE'S THE ONE THING RICH SAYS,
CBS INSIDERS GIVE LOW
CREDIBILITY BUT I DOUBT, BUT I
KIND OF SIDE WITH RICH, IF ALL
ELSE FAILS IT WILL BE A MERGER
WITH VIACOM.
WHEN I BOUNCE IT OFF CBS PEOPLE
THEY'RE LIKE WE DON'T WANT TO DO
THAT.
THAT'S WHY THEY HAD THE INITIAL