Entertainment industry leaders Friday evening began to process the weighty allegations of sexual misconduct by CBS chief Leslie Moonves revealed in the New Yorker. 
 
 The magazine on Friday published a story by reporter Ronan Farrow detailing claims by six women against Moonves of sexual misconduct. The alleged incidents spanned several decades, with the earliest of them reported to have taken place in during Moonves’ early days as a television exec at Fox. The revelations arrive as Moonves is in a pitched legal battle with majority shareholder Shari Redstone over a proposed merger with Viacom. 
 
 Moonves’ future is now the subject of heightened speculation throughout the industry. 
 
 “With Shari gunning for him, there’s just no way he survives this,” one high-ranking executive at a rival network told Variety, adding of the allegations in Farrow’s story, “It just rings so true.” 
 
 One CBS exec described the attitude inside the company as news of the allegations broke as “sanguine,” and tied Farrow’s story to the flood of misconduct allegations that have engulfed the entertainment industry since the publication last year of sexual-assault claims against disgraced mogul Harvey Weinstein. “It’s a tough day,” the insider said. “This is simply a culture in the entire industry that has been manifesting itself in a certain way for a long time, and now things are changing. It’s a tectonic shift.” 
 
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 How the Moonves allegations impact Redstone’s attempts to reunite Viacom and CBS, which were previously one company until CBS was spun off as a separate entity more than a decade ago, remains to be seen. Moonves’ resistance to the deal is believed to be driven in part by Redstone’s preference that Viacom CEO Bob Bakish be given a senior role at the combined company. 
 
 “The big question is that if he’s booted, does Shari fast-track the merger and then put Bob in place as CEO?” one exec at a rival network told Variety. 
 
 Among the claims in the New Yorker story is an accusation by actress and writer Illeana Douglas, who described a meeting with Moonves in which he held her down on a couch and kissed her without her consent. The story also describes a culture at CBS that’s permissive of sexual misconduct, particularly in the CBS News division. 
 
 Moonves responded to the allegations in a statement Friday, saying, “Throughout my time at CBS, we have promoted a culture of respect and opportunity for all employees, and have consistently found success elevating women to top executive positions across our company. I recognize that there were times decades ago when I may have made some women uncomfortable by making advances. Those were mistakes, and I regret them immensely. But I always understood and respected—and abided by the principle—that ‘no’ means ‘no,’ and I have never misused my position to harm or hinder anyone’s career. This is a time when we all are appropriately focused on how we help improve our society, and we at CBS are committed to being part of the solution.” 
 
 Julie Chen, who hosts “The Talk” and “Big Brother” for CBS, and has been married to Moonves since 2004, also responded Friday to the New Yorker story. “I have known my husband, Leslie Moonves, since the late ‘90s, and I have been married to him for almost 14 years,” Chen wrote in a statement released on Twitter. “Leslie is a good man and a loving father, devoted husband and inspiring corporate leader. He has always been a kind, decent and moral human being. I fully support my husband and stand behind him and his statement.” 

 Shari Redstone denied the “malicious insinuation” that she is “somehow behind” accusations of misconduct against CBS chief Les Moonves, just after shares of CBS Corp. stock fell nearly 7 percent during intraday trade on Friday. 
 
 “The malicious insinuation that Ms. Redstone is somehow behind the allegations of inappropriate personal behavior by Mr. Moonves or today’s reports is false and self-serving,” a representative for the vice-chairwoman of CBS and Viacom, said in a statement to TheWrap Friday. “Ms. Redstone hopes that the investigation of these allegations is thorough, open and transparent.” 
 
 In a statement released earlier in the morning, CBS said it was opening an investigation into claims of sexual misconduct, as the New Yorker is expected to release a report accusing Moonves of inappropriate behavior. However, the statement did not identify who at the network has under review. 
 
 Also Read: CBS Stock Drops as Sexual Misconduct Story Looms 
 
 “All allegations of personal misconduct are to be taken seriously. The Independent Directors of CBS have committed to investigating claims that violate the Company’s clear policies in that regard,” the statement read. “Upon the conclusion of that investigation, which involves recently reported allegations that go back several decades, the Board will promptly review the findings and take appropriate action.” 
 
 The statement continued: “The timing of this report comes in the midst of the Company’s very public legal dispute. While that litigation process continues, the CBS management team has the full support of the independent board members. Along with that team, we will continue to focus on creating value for our shareowners.” 
 
 The New Yorker and journalist Ronan Farrow rocked the entertainment industry last fall after several women accused Hollywood mogul Harvey Weinstein of sexual assault. The report set off a widespread reckoning against sexual misconduct in the workplace, and propelled the #MeToo and #TimesUp movements. Weinstein was hit with three sexual assault charges in New York earlier this month. 
 
 But Farrow himself said Friday that everyone might want to take a breath. 
 
 “A quick reminder that I don’t comment on reporting I haven’t published, and if you’re reading about my work from secondary sources you’re often not getting the full or correct story-especially in cases where parties have an interest in downplaying or otherwise spinning,” he tweeted. 
 
 Also Read: CBS Opens Sexual Misconduct Investigation as New Yorker Story Looms 
 
 The specter of a New Yorker story detailing accusations and a culture of sexual misconduct come at a critical time for the company. 
 
 Moonves has led CBS into a battle against Redstone for control of the company. CBS sued Redstone, who owns a controlling 80 percent stake in CBS and Viacom, back in May in an attempt to dilute the power Redstone wields over CBS through her family company National Amusements. 
 
 Redstone, for a while, had been trying to convince Moonves and CBS to merge with sister company Viacom. The two sides are expected to meet at a hearing regarding the dispute in October.
– Leslie Moonves has at least one high-profile defender in the wake of sexual misconduct allegations leveled against the CBS head honcho. It's his wife, Julie Chen, reports People. “I have known my husband, Leslie Moonves, since the late ’90s, and I have been married to him for almost 14 years," she tweeted. "Leslie is a good man and a loving father, devoted husband and inspiring corporate leader. He has always been a kind, decent and moral human being. I fully support my husband and stand behind him and his statement.” The latter refers to her husband's acknowledgement that he made advances on women "decades ago," which he now sees as a mistake, but that he always abided by the principle that "no means no" and never retaliated against the women. The 48-year-old Chen, 20 years her husband's junior, is the host of Big Brother and a co-host of The Talk, both on CBS. Not everyone shares her sentiment. “With Shari gunning for him, there’s just no way he survives this,” an exec at a rival network tells Variety. “It just rings so true.” The reference to "Shari" is Shari Redstone, the majority shareholder of CBS and Viacom, who is locked in a nasty legal fight with Moonves over her wish to reunite the two companies. In a statement to the Wrap, a Redstone representative denied the "malicious insinuation" that Redstone is behind the new accusations. Still, she "hopes that the investigation of these allegations is thorough, open, and transparent."