It’s been a bad December for many a media company’s publicly traded stock. On Monday, CBS Corp. shares slid to a price last seen in October 2015.
At the Closing Bell, CBS shares were down 2.6%, to $46.82. Volume was heavy at 4.23 million shares; average trading volume is 3.13 million shares.
Some 90 minutes later it became known that Les Moonves will be getting no severance payment following his exit as Chairman/CEO on claims of sexual misconduct.