Former Turner Broadcasting chief exec John Martin and former Time Warner boss and CBS board member Richard Parsons are believed to be the top external candidates for the CEO role, according to US trade outlet Variety.
The CBS board of directors is also expected to roll out a process for internal candidates, such as acting chief exec Joseph Ianniello and Showtime chief exec David Nevins.
It is believed that Shari Redstone, head of National Amusements, which owns a controlling stake in CBS, recently met with Martin, who exited Turner in June ahead of the AT&T acquisition.
The search for a new leader is anticipated to be fairly structured, with candidates expected to make their case with formal presentations. The process will resemble that used to find a replacement for former Viacom boss Philippe Dauman, who was removed in May 2016.
Moonves, who also served as chairman, stepped down from his post last weekend after 24 years at CBS.
He is facing numerous allegations of sexual harassment.
The Time’s Up movement is now calling on the CBS board to donate US$120m to workplace safety organisations – the exact amount set aside as a financial exit package for Moonves.
The corporation has said it will donate $20m to groups that support the #MeToo movement.