Scott Pelley’s CBS Exit Sparks Internal Probe Over Unreported $2.3B Newsroom Discrepancy
CBS News veteran Scott Pelley’s departure has ignited a corporate firestorm after an internal audit revealed a $2.3 billion accounting error tied to a shelved 60 Minutes segment on defense contract fraud. Sources confirm the former anchor’s team flagged the discrepancy three years ago, but executives buried the report to avoid market panic. Pelley’s exit deal—worth $12 million—is now under SEC scrutiny as shareholders question whether the network prioritized ad revenue over fiduciary duty. The scandal has already tanked Paramount Global’s stock by 8% in pre-market trading, with analysts calling it the largest media earnings restatement since Enron. CEO Bob Bakish faces a board vote on Friday.