CBS News has been reporting for a few months that the company is seeking a new president and CEO.
The network’s current president, Les Moonves, is on leave after a series of scandals that has rocked the company.
But now CBS News president of news, Jay Wallace, is also under investigation for potentially violating securities law.
Wallace is also the CEO of NBCUniversal, which is in talks to buy CBS.
Wallace, a longtime CBS News contributor, has defended his company’s coverage of the presidential race, saying he is committed to “the integrity and accuracy of our reporting.”
Wallace was named president of CBS News in March.
He is also CEO of Time Warner Inc., which owns the Los Angeles Dodgers and is seeking to acquire CBS Sports.
In January, the company agreed to buy NBCUniversal for $4.8 billion, which will give it a controlling stake in the network.