CBS extends contract of interim CEO Joe Ianniello for 6 months

CBS has extended the contract of interim Chief Executive Officer Joe Ianniello for six more months — suggesting the media company is still a long way off from finding a permanent replacement to Les Moonves.

Ianniello took the reins as president and acting CEO in September after Moonves resigned as chairman and CEO amid sexual misconduct allegations.

Since Moonves stepped down, CBS has undergone an extensive search for his successor. The board tapped search firm Korn Ferry in November but recruiting the right exec has been difficult. That’s partly because the board is also running a strategic review, which could see the network merging with sibling Viacom or another company.

It is widely believed that a merger between the Sumner Redstone-controlled firms will likely take place this year.

Candidates have been reluctant about the CBS job due to uncertainty associated with the merger, sources said.

Ianniello’s contract extension now ends on Dec. 31, extended from June 30.