How serious was Sumner Redstone about getting Viacom’s share price up? So much so that the Viacom chmn is taking a pay cut (a feat probably made easier by the $56mln he pulled in 2 years ago). His salary will go to $1mln from $1.75mln as part of the company’s plans to link exec pay to share price. Gone is his $1.3mln in deferred compensation, and his target cash bonus goes to $3.5mln/year from $6.1mln. Instead, Redstone will get an annual $6mln in stock-based compensation.

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Observers Keep Close Tabs on FCC’s 3.45GHz Auction

Things were looking a bit better Friday for the FCC’s 3.45GHz auction. Round 28 closed with gross proceeds of more than $6.5 billion.

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