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

State of DEI: NAMIC, AIM Analyze Workforce Representation

At a time when investments in DEI efforts are being questioned, NAMIC is checking in to remind the industry of the tangible change these initiatives are making.

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

Calendar

Apr 16
Cablefax 100 Awards Nominations Open November 13th, 2024.
Full Calendar

Jobs

Seeking an INDUSTRY JOB or hiring for one?
VIEW JOBS

In conjunction with our sister brand, Cynopsis, we are offering hiring managers a deep pool of media-savvy, skilled candidates at a range of experience levels and sectors. The result will be an even more robust industry job board, to help both employers and job seekers.

Contact Carley Ashley, [email protected], for more information about posting a job on the website and our Jobs newsletter, sent twice weekly to 85,000 media professionals.