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CBS CEO Leslie Moonves' 2012 pay package valued at $62.2 million

April 12, 2013|By Joe Flint

CBS is home to "Two Broke Girls" and one rich chief executive.

Leslie Moonves, the CEO of CBS, had a 2012 compensation package valued at $62.2 million, according to the company's proxy statement filed Friday.

Although that makes Moonves the highest-compensated media chief executive, it is also a decline from 2011, when his pay package was worth almost $70 million.

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Moonves had a base salary of $3.5 million and received a bonus of $27 million. The rest of his compensation was in the form of stock awards and option awards.

CBS said in a statement that it posted record results in 2012, "with its highest revenues, operating income and EPS since it became a standalone company in 2006. Mr. Moonves’ compensation is reflective of all this success.”

Moonves is far and away the most well-compensated media executive for 2012. Discovery CEO David Zaslav had a package valued at almost $50 million. Walt Disney Co. CEO Bob Iger's compensation had a value of $40.2 million. Time Warner CEO Jeff Bewkes' package was valued at $25.9 million.

While Moonves took a pay cut, his boss got a raise. Sumner Redstone, the chairman of CBS, had a compensation package valued at $31.3 million, up from $20.3 million in 2011. The increase was due to changes in the value of Redstone's pension.

Besides the CBS broadcast network, CBS holdings include TV and radio stations and the pay-TV channel Showtime.

ALSO:

Viacom CEO Dauman takes a pay cut

Discovery CEO's pay package approaches $50 million

Comcast CEO Roberts' 2012 package valued at $30 million

Follow Joe Flint on Twitter @JBFlint.

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