CBS’s Moonves Pay Fell in 2012
Based on a company regulatory filing on Friday, the Chief Executive of CBS, Leslie Moonves had an 11% drop in compensation opposed to his earnings of $62.2 million in 2012. In the past, he was paid with a salary of $3.5 million and a $27.5 million bonus, which makes him one of the highest paid executives in the entertainment industry. Under his guidance and direction, their revenue has increased by 3% compared to the previous year as well as their net earnings for the year that rose 20%. The overall drop in Leslie Moonves compensation is because of other lower options. His stock awards have decreased, while his compensation package has still been almost five times the average recorded by CEOs in the S&P 500 index.
Many of the CEOs of popular broadcasting networks in the entertainment industry earn high total compensation. I think that it is very challenging to break into the entertainment industry and be successful with high earnings such as CBS and Viacom because there are many dominating companies that already acquired many networks.
Written by: Samantha Chin
Source: The Wall Street Journal