The Highest-Paid Media Exec Takes a Pay Cut — But He’s Still No. 1

April 15, 2013  •  Post A Comment

The executive who is recognized as the highest-paid CEO in the media industry took a pay cut in 2012. Writing in the Los Angeles Times, Joe Flint reports that CBS Chief Executive Leslie Moonves remains in the top spot, earning $62.2 million last year.

That represents a cut from 2011, when his pay package was worth nearly $70 million.

For 2012, Moonves received a base salary of $3.5 million and a bonus of $27 million. The remainder of his pay package was in stock awards and option awards.

"Moonves is far and away the most well-compensated media executive for 2012,” Flint writes. “Discovery CEO David Zaslav had a package valued at almost $50 million. Walt Disney Co. CEO Bob Iger’s compensation had a value of $40.2 million. Time Warner CEO Jeff Bewkes’ package was valued at $25.9 million."

CBS pointed to record results in 2012, noting that "Moonves’ compensation is reflective of all this success."

Sumner Redstone, the chairman of CBS, received a raise, earning a package worth $31.3 million, up from $20.3 million in 2011. The jump was attributed to an increase in the value of his pension, the story notes.

One Comment

  1. I’m curious, what is it that makes anyone worth more in one workday than it takes me to earn in 6 years?

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