While technology executives are grabbing headlines and wealth with lucrative initial public offerings, media bosses are outpacing them with their pay packages.
Oracle Corp.’s Larry Ellison was the highest-paid chief executive officer in the U.S. last year as total compensation overall rose 9 percent from 2012, the New York Times reported.
Leslie Moonves, chief executive officer of CBS Corp., received $66.9 million in compensation last year, bringing his three-year total to almost $200 million and highlighting the rich payouts in media.
Onex Corp., Canada’s largest buyout firm, paid Chief Executive Officer and founder Gerald Schwartz $85.3 million in 2013 compensation, higher than payouts for the top executives of Walt Disney Co., Coca-Cola Co. and Visa Inc. combined.
Walt Disney Co. named ABC News President Ben Sherwood as co-chairman of its media networks, filling the vacancy created by the planned departure in January of Anne Sweeney.
Walt Disney Co. agreed to buy Maker Studios, a supplier of online video content to YouTube, for at least $500 million, gaining technology and experience with short-form entertainment.
Walt Disney Co. reached a compromise with shareholders, saying it will split the roles of chairman and chief executive officer in the future under what the company called “normal” circumstances.
Anne Sweeney, co-chairman of Walt Disney Co.’s media networks group, will leave in January 2015 to become a television director.
Walt Disney Co. extended Robert Iger’s tenure as chief executive officer of the world’s largest entertainment company to June 2016, a move that delays his planned succession for 15 months.
"Short-form online video is growing at an astonishing pace and with Maker Studios, Disney will now be at the center of this dynamic industry with an unmatched combination of advanced technology and programming expertise and capabilities."
- Robert Iger on Mar 24, 2014