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Les Moonves Named CBS Chairman Replacing Ailing Sumner Redstone

Photo Credit: Kathy Hutchins

Photo Credit: Kathy Hutchins

On Wednesday, developments behind the scenes at CBS began to take shape when it was announced that ailing 92-year-old CBS Corporation chairman Sumner Redstone was stepping down from this position due to health concerns.  His replacement is CBS Chief executive, Les Moonves, who will assume the role of chairman.

According to the New York Times: “a lawsuit challenging Mr. Redstone’s mental competance raised questions among analysts and investors about whether Mr. Redstone should continue as executive chairman of CBS and Viacom. Mr. Redstone controls about 80 percent of the voting stock in the two companies.”

The shift at CBS came after Mr. Redstone sent a letter Tuesday to Mr. Moonves and CBS directors announcing his resignation, according to one person briefed on the developments who requested anonymity because they were private.

The board subsequently met Wednesday and first offered the chairman position to Mr. Redstone’s daughter, Shari. Ms. Redstone, who now is vice chairwoman of CBS and Viacom, declined and nominated Mr. Moonves for chairman of CBS corporation.. The board voted unanimously for the appointment.

“I have been fortunate to work with Les and he has clearly established himself as a creative and effective leader who understands both the challenges and the opportunities that are shaping today’s media landscape,” Ms. Redstone said in a statement. “I am sure he will make a great chair and I look forward to working with him for many years to come.”

Mr. Moonves, one of the most highly regarded TV executives, has been president and chief executive of CBS since 2006. He will continue in those positions.  “I want to thank  Sumner for his guidance and strong support over all these years,” Mr. Moonves said in a statement.

Mr. Redstone controls the voting stock in Viacom and CBS through his private holding company, National Amusements. If Mr. Redstone dies or is found to be incapacitated, his stake in National Amusements is to be held by a trust. Voting control will go to seven trustees. Those trustees include Ms. Redstone and Philippe P. Dauman, chief executive of Viacom.

In a separate statement, Ms. Redstone confirmed that the terms of her father’s trust state that she succeed him as nonexecutive chairwoman at both CBS and Viacom.  Separately, Ms. Redstone had made a deal with Mr. Moonves for him to take on the chairmanship at CBS, according to people briefed on the discussions.

Moonves is one of the nation’s highest paid executives. He saw $57.2 million in compensation in 2014, CBS reported in its proxy. His packages averaged $62.8 million a year in the five years that ended in 2014.  In late 2014, the company extended Moonves’ contract by two years to mid-2019. The agreement included incentives to keep him on board as a “Senior Advisor and/or Producer” for an additional five years after the term ended.

The new CBS chairman is married to The Talk and Big Brother host, Julie Chen.

So, what do you think about Les Moonves position with CBS? With this shift in power at the corporation of CBS, Moonves becomes even more powerful within the industry and more.

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JustSaying
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JustSaying

Corporate politics as I see it.

su0000
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su0000

Without Corporate politics we wouldn’t have Y&R..
It’s the way the game is played, and looks like CBS knows how to play it..

elm51
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elm51

80% of the voting block for viacom & cbs – now that is powerful!

Mary SF
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Mary SF

One of the reasons networks do not have the budget for daytime is because they are paying these over the top salaries to their executives– I”m sorry unless you can cough up golden eggs or your tears are diamonds I just don’t see how one person warrants the kind of money corporations shell out to the few people on the top of their food chain

Jim Preston
Guest
Jim Preston

Here Here I completely and wholeheartedly agree ~

4ever DAYS
Guest
4ever DAYS

That’s why the soaps die, Mary. A small fraction less pay to the big shots would be enough for the soaps to live long after all of us are dead and gone!

He and the rest of them should choke on their filet mignon!!!

Brett
Guest
Brett

Looks like The Talk is safe anyway, sigh……

4ever DAYS
Guest
4ever DAYS

Hey Y&R and B&B viewers, that’s the man who killed GL and ATWT in favor of ‘Let’s Make a Deal’ and his wife’s ‘The Talk.’

Keep watching those replacement shows and soon there will be no more Y&R or B&B.

The head honchos want more money and killing the soaps do the trick unless the alternative programs crumble!

JANET
Guest
JANET

I agree. I lost GL and ATWT so no matter what That is one channel I avoid. I wouldn’t watch the view if it was the only show on all of TV. Plus paying him all that money means the fans can’t have what they want. PBS does the same over pays the top women in their case, so they can cry We need sponser’s. When hell freezes over and the devil wears ice skates.

jaybird369
Guest
jaybird369

4ever DAYS…as far as I’m concerned, the ‘head honchos’ on A-L-L 3 of the networks (ABC, CBS and NBC) don’t care about us soap viewers…or what we want!!!!! I feel that they only care about their own $$$ pockets. BEYOND SAD AND EVEN MORE DISGUSTING!!!!!

Lauren
Guest
Lauren

Wow, what an inflated salary! I agree w/other comments in feeling that NOBODY deserves that type of salary when the network is floundering on money for the programs. Hopefully he gets rid of Jill! Faren Phillips and Angela McDonald!

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Ashley Jones Confirms Return to The Bold and the Beautiful

Great news Bold and the Beautiful fans! Ashley Jones will be back on-screen again as Bridget Forrester in upcoming episodes of the CBS Daytime drama series.

Jones confirmed the previously rumored news of her return via her Instagram account where she shared: “Do you think it’s to let you know Bridget’s alive and well or a preview for more to come?”

Be on the lookout for Jones beginning next week with the Monday, November 2nd episode.

Ashley has played Bridget on B&B in various lengths of times including: 2004–13, 2015–16, 2018, and in 2020.

So, what do you think Bridget will be involved with when Ashley is back on-air on B&B? Comment below.

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Eileen Davidson, Vince Van Patten & Caitlyn Jenner In Cast Of New Sitcom ‘Duke of the Valley’

A fictional apartment building featuring a set of very eccentric tenants in the San Fernando Valley of Southern California is the backdrop for a new indie comedy sitcom based on the memoirs of the late Dick Van Patten, best known for his role on the ABC series, Eight is Enough.

The show entitled, Duke of the Valley is co-created by Dick’s son, Vince Van Patten and his grandson, Duke Van Patten, who also wrote the series together. In addition, Vince is also directing and one of the producers of the series.

According to The Wrap, Caitlyn Jenner will star as Heather a transgender “white trash” woman who sells perfume at the counter of Macy’s.  Others in the cast include: Vince Van Patten’s wife and two-time Daytime Emmy winner, Eileen Davidson (Ashley, Y&R and Ex- DAYS and RHOBH), who plays Brenda, a washed-up actress who can’t accept that her career in showbiz is over.

Vince Van Patten takes on the role of a homeless killer named Skipy, who demands to camp outside the apartment building.  Meanwhile, Duke Van Patten plays himself as an actor in Hollywood living in a dingy apartment building in the San Fernando Valley that happens to be owned by his ‘crazy uncle Jimmy”, played by none other than James Van Patten.

Duke of the Valley is currently in production, but without a network or streaming service attached to it yet.  Thus, no release date has been set as this time either.

So, what do you think of the premise of Duke of the Valley featuring Caitlyn, Eileen and Vincent? Comment below!

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Guiding Light

Tom Pelphrey Set As Series Regular For Amazon’s Mystery Drama ‘Outer Range’

Another great feather in the cap for one of the finest actors we know, former Guiding Light and As the World Turns alum, and two-time Daytime Emmy winner, Tom Pelphrey.

Fresh of his star-turn in Netflix;s Ozark as Laura Linney’s on-screen brother Ben, Pelphrey has nabbed a key role in the upcoming Amazon series, Outer Range.

The show also stars Lilli Taylor and Tamara Podemski and Josh Brolin.  Outer Range is from playwright Brian Watkins, Brad Pitt’s Plan B Entertainment and Amazon Studios.

According to Deadline: The story centers on Royal Abbott (Brolin), a rancher fighting for his land and family, who discovers an unfathomable mystery at the edge of Wyoming’s wilderness.  Taylor will portray Cecilia Abbott, the matriarch of the Abbott family. Cecilia is a woman of deep faith, which she finds tested as never before. Podemski will play Deputy Sheriff Joy. A life-long cop, Joy is running for county sheriff, and is the first gay Native American to ever do so in Wyoming. Pelphrey is Perry Abbott, the dutiful, eldest Abbott son, who is torn up inside by the lingering mystery of his missing wife.”

Coming up this Oscar season look for Tom in David Fincher’s Mank, where he plays Joseph Mankiewicz .

So will you be checking out Tom in Outer Range? Comment below.

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B&B’s Jacqueline MacInnes Wood deliver the Power Performance of the Week as Steffy’s drug addiction leads to a confrontation and intervention by her loved ones with dire consequences.  Here is the last seven minutes that featured Emmy-winner Wood at her best. Leave A Comment

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