In a statement issued Sunday evening, Moonves said he was "deeply saddened to be leaving the company".
CBS' board of directors is near completion of a settlement that would both end its litigation with its controlling shareholder National Amusements - and sever ties with long time CEO Leslie Moonves, according to people familiar with the situation.
On the heels of a new damning report of a pattern of sexual harassment and sexual assaults, CBS chief Les Moonves is reportedly stepping down, according to CNN and other media.
Two articles published by The New Yorker magazine - on the same day that his departure was announced and on July 27 - detailed allegations from 12 different women against the 68-year-old television titan.
The board of directors told the New Yorker it was "committed to a thorough and independent investigation of the allegations, and that investigation is actively under way".
Six additional women have come forward to accuse Moonves of harassment or assault, with the claims stretching back decades, the New Yorker reported on Sunday.
A separate statement from CBS said it took "these allegations very seriously".
Jeffrey Fager, the executive producer of "60 Minutes", was accused by former employees of inappropriate conduct in the initial New Yorker story in July. In my 40 years of work, I have never before heard of such disturbing accusations.
CBS is set to announce Moonves' departure by Monday, CNN and Variey reported Sunday.
Osaka makes history amid extraordinary Serena umpire row
Open final Saturday in a match that left victor Naomi Osaka in tears and is still inspiring reflection and criticism a day later. They came to life again as Williams gained her first break chance, which Osaka saved with a 117 miles per hour service victor .
Moonves, who turned CBS from an aging radio and TV broadcaster into a successful provider of shows to digital platforms, was expected to reap an estimated $100 million in severance. But after the second New Yorker story was published, public pressure for him not to receive any financial compensation mounted.
Untrue allegations from decades ago are now being made against me that are not consistent with who I am.
Moonves responded to the first story with a statement expressing regret for having "made some women uncomfortable by making advances".
Mr Moonves has been one of the most powerful executives in United States media, joining CBS in 1995 as head of entertainment and becoming CEO of CBS Corp in 2006.
The women have said that Moonves forced himself on them, and that their careers suffered after they rejected his advances.
Last week, The Huffington Post's Yashar Ali reported that, after the Janet Jackson and Justin Timberlake incident during the Super Bowl that aired on CBS, Moonves "was furious that Jackson didn't make a similarly contrite apology to him" and she became the "target of Moonves' ire and vengefulness", including ordering MTV, VH1, and CBS-owned radio to stop playing her music.
CBS also settled its ongoing legal woes with National Amusements, Inc., which means there will be no merger of CBS and Viacom for at least two years.
Writer Linda Silverthorn, who says she had consensual sexual encounters with Moonves when she was an assistant and he was a vice president at 20th Century Fox, tells Farrow she was harassed when she arrived for a business meeting six years later, in 1990, at Warner Bros., where Moonves was an executive.
Time's Up said the CBS board has a responsibility to rid the company of a toxic culture toward women.
In the regional capital, Sapporo, lights and water were restored to many areas a day after the entire island saw power cut off. Typhoon Jebi , which made landfall on Tuesday in the Kansai region, left at least 11 dead and 600 injured.
Expect heavy rain and storms to ramp up with some stronger storms on the table Sunday afternoon, especially in eastern Kentucky. We have avoided significant rainfall for most of the area so far this month but that changes quickly starting this evening.
And despite late Three Lions substitute Danny Welbeck netting very late on, the goal was ruled out for a foul on David de Gea . England teammates expressed relief about Shaw's injury, with manager Gareth Southgate equally relieved.
Average hourly wages are now 2.9 percent above where they were a year earlier, the fastest year-over-year gain in eight years. Wages picked up in August, with the annual wage growth increase moving up to 2.9 percent from August's 2.7 percent.
Loewenthal said the area should prepare to see impacts, including rough surf and unsafe rip currents, as early as Sunday. It's too soon to determine if Florence will hit land, where it might hit and what the magnitude of the winds might be.
How to ensure cryptos are safe from hacking attacks is one of the issues regulators are trying to get their heads around. Goldman hasn't confirmed the report , but the news still sent the value of bitcoin plummeting.
But from 2014, the days is being observed as Defence and Martyrs Day to pay tribute to all those killed in action. The government, he said, would continue absolute struggle in the war against terrorism till its logical end.
Linfesty said he didn't go to the event with the intention of making a scene, but couldn't help himself while listening to Trump. Tyler Linfesty , not exactly a Trump supporter, explained he wanted to go to "see the President and hear what he had to say".
North Korea has long used parades to display the strength of its military, having most recently held one of February of this year. Sunday's parade came just days after a high-level South Korean delegation had returned from a meeting with Kim in Pyongyang.
Fellow pop star Ariana Grande , who dated Miller seriously for almost two years, has not publicly addressed news of his death. Chance the Rapper credited Miller with helping him early in his career and called him "one of the sweetest guys I ever knew".
The Boston Celtics are about to have a significantly troubling incident on their hands. The victim was taken to a separate hospital for injuries sustained.
Police say 5 found dead in Australian home, man in custody
The family were discovered at a Bedford property on Sunday morning after a man in his 20s visited a regional WA police station. In July, Kiwi mum Michelle Peterson, 48, and her children Bella, 15 and Rua, 8, were killed in the suburb of Ellenbrook .
How the energy price cap could leave some customers worse off
Paul Earl, head of energy at Comparethemarket.com, said: "There is concern that the price cap will make energy more expensive". He says: "The price cap is only a sticking plaster and will not fix the fundamental failings within the energy market".
US Open -- Naomi Osaka reaches semifinals
Djokovic won his 13th Grand Slam at Wimbledon, just after beating Millman 6-2, 6-1 at Queen's Club in their only previous meeting. Japan time on Sunday and even if she fails to pull off a stunning victory, the Asahi newspaper believes Osaka's U.S.