Finance

Moonves Snags 22% Raise

CBS chief’s compensation tops $69M in 2016 4/07/2017 5:24 PM Eastern

It was a good year for CBS chairman and CEO Les Moonves, and the media mogul was mightily compensated for it, taking home a collective $69.6 million in salary and other perks in 2016, a 22.5% raise from his haul in the previous year.

Moonves was named chairman of CBS last year as former chairman and largest shareholder Sumner Redstone battled it out (and won) with former Viacom chief Philippe Dauman. CBS also topped $1 billion in retransmission consent revenue for its broadcast stations for the year and predicted its CBS All Access and Showtime OTT services would top 8 million customers by 2020.

Moonves’ base salary stayed steady at $3.5 million, but he received a $32 million bonus (up from $19 million in 2015) and $31.9 million in stock awards, up from $25.5 million in the prior year.

Chief operating officer Joseph Ianniello received a 10% increase in compensation to $29.05 million, including a $12.5 million bonus.

 

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