Moonves Scores $57.7M CBS 2010 Payday

BREAKING NEWS… CBS Corp paid its chief Les Moonves a compensation package worth $57.7 million in 2010, a 34% raise over 2009, the company reported Friday. That made him Big Media’s second-highest-paid CEO — trailing only Viacom CEO Philippe Dauman, who was the country’s highest-paid chief executive with $84.5 million. Moonves’ total included a $20 million bonus as well as a $7.5 million cash payment. The payment was “for his leadership in connection with the creation of premium content across the Company’s portfolio of businesses, particularly with respect to the CBS Television Network, which outperformed its media peers in 2010,” the company said in its annual proxy statement. Of course even a chimp could have improved CBS’ financial performance last year. Virtually every major media company benefited as the economy began to recover from the depths of the recession in 2009. Broadcasters also picked up a lot of ad sales from candidates running in 2010’s hotly contested local political campaigns. CBS’ stock appreciated 37.5% during the calendar year.

This article was printed from