One week after AMC Entertainment Inc. said it had paid $19.7 million to forgive loans to two company officers, the company announced big raises for the same executives, whose compensation now totals just more than $2.1 million.
In its 2002 proxy filing this week, AMC said Chairman Peter Brown's salary has been raised 23% to $625,000, while his bonus increased 50.1% to $683,550.
Philip Singleton, AMC's chief operating officer, received a 50.1% boost in his bonus, to $403,000, while his salary increased 13.3% to $425,000.
* Ticketmaster, the biggest retailer of entertainment tickets, formed a special committee of its board to evaluate USA Interactive's offer to buy the 34% stake in Ticketmaster that it doesn't already own. Ticketmaster named venture capitalist Alan Spoon chairman of the special committee.