Viacom’s Sumner Redstone, Les Moonves and Tom Freston revived Showtime’s erstwhile "No Limits" tagline as each man pocketed compensation in salary, bonus and stock options worth $52mln-$56mln in ’04, a year when the company’s stock fell 18%. An SEC filing after market close Fri disclosed the trio garnered a total of $160mln. Viacom noted the package was based on operating performance, not stock price. The filing said Redstone’s salary was $5mln, his bonus $16.5mln; Freston’s salary was $4mln, his $16mln; and Moonves’s salary was $6mln, with a $14mln bonus. The NY Times’ quoted compensation critics and Wall St analysts blasting the men’s package as extravagant, even citing unnamed media execs who charged the filing was made late Fri to avoid attracting attention.

The Daily

Subscribe

FCC Seeks Comment on NAB NextGen Petition

The FCC Media Bureau is seeking comment on NAB’s petition regarding the treatment of multicast streams under the NexGen TV local simulcasting rules.

Read the Full Issue
The Skinny is delivered on Tuesday and focuses on the cable profession. You'll stay in the know on the headlines, topics and special issues you value most. Sign Up