Quick Hits5/07/2012 12:01 AM Eastern
Crown Media Execs Get Pay Rises
STUDIO CITY, CALIF. — Executives who run the Hallmark Channels
got more than greeting cards in their pay envelopes last
year from parent company Crown Media Holdings.
Per a proxy statement released April 30 by Crown, CEO
Bill Abbott’s total compensation rose 18% to $1.381 million
in 2011. That includes a salary of $697,168, bonus of
$409,542, deferred compensation of $27,231 and other
compensation of $247,500.
Ad-sales chief Ed George earned $953,210, up 32%, while
EVP and general counsel Charles Stanford earned $817,245
up 27% from 2011.
Michelle Vicary, executive VP for programming, earned
$369,993, up 35% from 2010.
None of the company’s named executives received stock
— Jon Lafayette, Broadcasting & Cable
Karmazin Downplays Malone Moves
NEW YORK — Liberty Media chairman John Malone’s recent
moves to wrest control of Sirius XM Satellite Radio were a
hot topic on the radio giant’s recent quarterly earnings call,
but XM CEO Mel Karmazin, no stranger to power plays himself,
downplayed any talk of a battle with Malone.
Liberty controls warrants convertible into 40% of Sirius XM
shares, the result of a bailout back in 2009. In April, Liberty
asked the Federal Communications Commission to allow it to
exercise de facto control over Sirius XM’s spectrum licenses.
“Liberty’s 40% is significant influence but not control,”
Karmazin said, according to a transcript of the call from Seekingalpha.com. “As we said in our fi lings, 40 is not the new 50. ”
Karmazin hinted that he could have some moves of his own
in the event the climate turns hostile, noting, though, that “we
have no reason that our interests are not aligned.”
— Mike Farrell