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Paxson Releases Executive Compensation Figures

Apr 29, 2005  •  Post A Comment

Paxson Communications Chairman and CEO Lowell “Bud” Paxson earned 25 percent more in 2004 than he did in 2003, according to the beleaguered broadcaster’s proxy statement, filed Friday with the Securities and Exchange Commission.

According to the filing, Mr. Paxson earned nearly $1.6 million in remuneration for 2004, compared with a year-earlier figure of nearly $1.3 million, with both his base salary and cash bonus receiving upward bumps in the year.

Meanwhile, Dean Goodman, Paxson’s president and chief operating officer, saw his remuneration fall to nearly $1.1 million from more than $1.4 million. Despite increases in both base salary and cash bonus, Mr. Goodman’s compensation couldn’t fully offset the impact of restricted stock awards he received in 2003.

Seth Grossman, the former chief strategic officer who quit the company in March, earned nearly $626,000 in 2004, compared with 2003’s figure of almost $557,200.