Time Warner Inc.’s Bewkes Gets 34% Bump

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Time Warner Inc. chairman
and CEO Jeffrey Bewkes, coming off a
year of double-digit revenue growth,
received total compensation of more
than $26 million in 2010, a 34% increase
over the prior year, according
to a proxy statement.

Bewkes’ total compensation for year
included a $2 million base salary — up
from $1.75 million in 2009 — $5.5 million
in stock awards, $4 million in options,
and $14.4 million in long-term
incentives. Bewkes received about
$19.6 million in total compensation in 2009.

The year was a strong one for Time Warner
— total ad sales
were up 10% for the
year, including a 14%
increase at its Turner
networks. Revenue
rose 6% to $26.9 billion
(its highest growth rate
since 2004) and adjusted
operating income
was up 17% to $5.4 billion,
the most in company
history.

Bewkes still lagged
behind other media
CEOs: Viacom’s
Philippe Dauman received $84.5 million in
total compensation last year and The Walt
Disney Co. CEO Robert Iger received $29.6
million in total compensation in 2010.

Also at Time Warner Inc., chief financial
officer John Martin received $10.2 million
in total compensation in 2010, up 62% from
the $6.3 million he received the prior year.
Executive vice president and general counsel
Paul Cappuccio received $6.2 million
in total compensation (up 19.4%); former
executive vice president of administration
Patricia Fili-Krushel (who left for NBC Universal
in January) received $4.8 million in
2010 (up 10.4%). Rounding out the top executives,
executive vice president of corporate
marketing and communications
Gary Ginsberg, who joined Time Warner
from News Corp. in April 2010, received
$3.6 million.

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