Departing CBS CEO Leslie Moonves could walk away from the media empire empty-handed, veteran media analyst Porter Bibb predicted Monday.
Bibb, a tech and media analyst with more than 40 years of experience on Wall Street, said Moonves will not receive the $100 million exit package the board is considering if allegations reported by journalist Ronan Farrow in Sunday’s New Yorker article and another in July turn out to be true.
The second New Yorker article on Sunday contained allegations by six more women. Moonves denied the accusations and characterized his relationships with some of the women as consensual.
“He’s denying [the allegations] strongly, and I think he’s going to end up getting zip,” the managing partner at Mediatech Capital Partners said in an interview with CNBC’s “Squawk Box.”
CBS announced Sunday evening that Moonves is leaving his post as chairman, president and chief executive officer after numerous allegations of sexual misconduct that spanned much of his career.
CNBC had reported last week that CBS was considering a $100 million exit package for Moonves. The money Moonves could receive is pending the results of an ongoing independent investigation into his conduct.
Bibb said the news Sunday has investors worried about the media company’s future. He predicted there will be more accusers coming forward.
In a statement in July, the 68-year-old Moonves said he regretted making some women uncomfortable but that he abided by the principle that “no means no.”
Bibb said Moonves did a good job of transitioning the legacy media company into the future, and added that CBS will not be able to survive alone any longer.
Shari Redstone, who holds a majority of the voting shares in CBS and Viacom, wants CBS to merge with Viacom. The two media companies had been under the same umbrella from 2000 to 2006 before they were split into separate publicly traded companies.
— CNBC’s Steve Kovach contributed to this report.