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Stephen Colbert addressed the sexual misconduct allegations against his boss at CBS, Leslie Moonves, and he did so on the CBS-owned The Late Show with Stephen Colbert on Monday night.

The board of CBS Corp. will discuss the future of embattled Chief Executive Officer Leslie Moonves during a regularly scheduled board meeting Monday, according to people familiar with the company's plans.

The New Yorker included a response to the allegations from Moonves who admitted to "kissing" in some of the instances, but denied anything bordering on the definition of "sexual assault".

Wall Street Journal reporter Keach Hagey, who wrote a book about battle for power at CBS, said the probe would be "top-to-bottom", examining not only Moonves's conduct, but also the broader company culture. "Make no mistake, Les Moonves is my guy", he said.

Meanwhile, CFRA Research downgraded CBS on Monday from buy to hold, citing the unclear near-term outlook for the company. "Consequently, it seems likely to us that CEO Les Moonves will be eventually removed from his role".

On Monday the CBS board made a decision to postpone the company's 2018 annual stockholder meeting that was scheduled to be held on August 10. "And I will stand by this statement today, tomorrow, forever".

Shares in CBS, after two straight days of setbacks that cut their value by 11%, have re-entered positive territory this morning, rising a fraction to about $51.50.

Dinah and her producing partner (and sister) Julie met with Moonves in the early '80s when he was the vice-president of development at Saul Ilson Productions.

The stock reaction is about more than the accusations against Moonves.

In another case, in 1985, the writer Janet Jones also described Moonves trying to kiss her during a business meeting at his office. "I don't know. I don't know who does know".

"I don't know what's going to happen, but I do believe in accountability, and not just for politicians you disagree with", Colbert said. "The allegations against Moonves warrant investigation, however, he should step aside while that process plays out", shareholder and National Center for Public Policy Research general counsel Justin Danhof told Fox News.

In a statement issued Friday, the embattled media executive admitted there were times during his long career where he made women feel "uncomfortable". "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".