Tom Freston walks away with about $85mln following his ouster from Viacom, according to his Oct 16 separation agreement. That includes $58.9mln in termination payments (including his annual salary and target bonus for ’06 through June ’09). Freston also gets $7.4mln in deferred compensation and about $5.7mln constituting the balance of his account under Viacom’s excess 401K plan, as well as 90K restricted stock units valued at $10mln. Freston has also opted to be an adviser to Viacom for 3 years; he’ll be paid $1mln per year for those services.

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Wednesday–July 2

Paramount’s Reason for Settling Trump Lawsuit

With news breaking overnight of Paramount Global’s $16 million settlement of President Trump’s “60 Minutes” lawsuit, the company couldn’t ignore the elephant in the room during its annual shareholder meeting Wednesday.

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