Finance

Scripps Chief Lowe Could Land $91.6M Payday in Discovery Deal

Jablin, Hickok, other Scripps execs could reap rewards 9/15/2017 6:01 PM Eastern
Scripps Networks Interactive CEO Ken Lowe

Scripps Networks Interactive CEO Ken Lowe could receive a $91.6 million windfall from the pending merger with Discovery Communications, according to Securities and Exchange Commission documents.

Discovery agreed to purchase Scripps in a deal valued at $14.6 billion in July. The deal is expected to close in early 2018.

According to SEC documents, Lowe would receive a total award of $91.6 million after the deal closes, including $19.98 million in cash severance, $37.39 million in equity, $9.1 million in pension enhancements and $24.9 million in tax gross up. Other Scripps executives also could receive substantial payouts, including chief operating officer Burton Jablin ($34.9 million), EVP and chief financial officer Lori Hickok ($11.9 million), EVP and chief legal and business affairs officer Cynthia Gibson ($8 million) and EVP and global operations and chief technology officer Mark Hale ($5.8 million).    

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