Bewkes’ package is insanely rich by any normal measure — but puts him at the bottom of the pack among CEOs of Big Media companies that have already released proxy statements for 2011. (This year’s breakdown for Bewkes: $2M salary, $6.1M stock awards, nearly $4M option awards, $13.5M non equity incentives, 253,280 change in pension value, and $97,966 for other compensation.) Although Time Warner shares appreciated 11.9% last year, the board dinged his bonus because the company “did not surpass the financial targets by as great an amount as it did in 2010.” Still, Bewkes’ pay was lopsided when compared to the four other highest paid Time Warner execs. His package amounted to almost as much as the other four combined, and was 3.9 times higher than their average compensation. Corporate governance watchdogs consider it troublesome when a CEO makes more than three times the average for the company’s other top officers.