CBS Corp. (NYSE: CBS) has its hands full with sinning talent.

The Washington Post Co.'s (NYSE: WPO) Newsweek reports that CBS Evening News anchor, Katie Couric -- who is dating a 33-year-old cougar -- plagiarized in her Notebook segment from a story by Dow Jones & Co.'s (NYSE: DJ) Wall Street Journal [subscription required] reporter Jeffrey Zaslow's March 15th Moving On column. Newsweek alleges that Couric's segment on the decline of libraries copied Zaslow's article in nine places. In response, CBS fired the Notebook segment producer.

And earlier in the week, Don Imus, whose radio program is carried by CBS Radio, suspended his show for two weeks after his comments on the Rutgers women's basketball team. So far Imus's remarks have cost his show two advertisers -- Procter & Gamble Co. (NYSE: PG) and Staples, Inc. (NASDAQ: SPLS). If enough cancellations follow his show will be dropped altogether.

I don't watch any CBS programming and I would avoid CBS stock. With a P/E of 17.5 and earnings expected to grow 13% in 2008 to $2.00, CBS trades at a Price/Earnings to Growth (PEG) ratio of 1.35. This seems expensive for a company whose $14.3 billion in sales have shrunk at a five year compound annual rate of -9.2% and whose net profit margin of 10.3% trails the industry average by three percentage points.

My view: skip Couric, Imus, and CBS stock.

Peter Cohan is President of Peter S. Cohan & Associates, a management consulting and venture capital firm. He also teaches management at Babson College and edits The Cohan Letter. He has no financial interest in CBS, Dow Jones, Procter & Gamble, Staples or Washington Post securities.