Bloomberg News

CBS’s Moonves Receives $69.9 Million in 2011 Compensation

April 13, 2012

CBS Corp. (CBS:US) Chief Executive Officer Leslie Moonves received $69.9 million in 2011 total compensation, 21 percent more than a year ago.

Moonves’s package included a salary of $3.5 million, a bonus of $27.5 million, stock grants of $8.5 million and options awards of $27.3 million, New York-based CBS, owner of the most- watched U.S. television network, said today in a regulatory filing.

The CEO oversaw a 42 percent increase in the company’s stock last year after paying down debt and developing a plan to add $3 billion in new revenue, including through sales of TV shows outside the U.S. and to online streaming services including Netflix Inc. (NFLX:US)

Moonves’s total compensation is more than double the $33.4 million provided to Robert Iger, chairman and CEO of Walt Disney Co. (DIS:US), which reported about three times the revenue of CBS last year. Disney’s stock was little changed in 2011.

Chairman Sumner Redstone, who controls CBS and Viacom Inc. through his family’s holding company National Amusements Inc., received $20.3 million in total compensation from CBS last year, including a $1.75 million salary and a $10 million bonus.

Redstone’s compensation as chairman of Viacom was $21 million last year, according to regulatory filings.

CBS climbed 1 percent to $32.51 today at the close of trading in New York. The stock has climbed 20 percent this year.

To contact the reporter on this story: Andy Fixmer in Los Angeles at afixmer@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net


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Companies Mentioned

  • CBS
    (CBS Corp)
    • $59.4 USD
    • -1.03
    • -1.73%
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    • -20.86
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