|Recognize these guys?|
They are oblivious to social concerns and are driven by the bottom-line. What motivates them? Their compensation and as you'll see it is quite substantial.
Collectively the 8 top media execs made $394m in 2018 or $49m on average. That's the equivalent to 640 years pay for the average U.S. worker.
The question is: Do these guys possess that unique a skill-set to warrant their compensation?
It was once the norm that compensation was based upon the performance of the company, but, alas, that formula didn't always work in favor of the CEOs so its been scrapped. Now execs are paid by crafting deals such as merger and acquisitions: AT&T buys Warners, Disney acquires Fox assets, etc.
What The Guys Banked Last Year
AT&T Randall Stevens $29m + $7.4m bonus
2018 Shareholder return: - 22.3%
One of the lowest paid in terms of compensation. But of course shareholders didn't fair to well.
CBS Joseph Ianniello $27m + $23m bonus
2018 Shareholder return: - 24.9%
$47m for his 8 months of work and is entitled to an additional $120m, which is being arbitrated.
2018 Shareholder return: - 12.7%
No house-hold name, Roberts manages cable giant, Universal studios, and vast media holdings.
Discovery David Zaslav $130m salary + bonus
2018 Shareholder return: + 10.5%
Received incentive bonus to persuade him to stay on as CEO through 2023. One of highest paid.
2018 Shareholder return: +20.6%
Highly paid. Was to retire two years ago but was coerced to remain as CEO.
Netflix Reed Hastings $36m
2018 Shareholder return: +39.4%
No extra perks but benefits from stock options. As co-founder his ownership stake stands at $3.7b
2018 Shareholder return: 78.3%
Disney deal "delivered incomparable value to shareholders".
Viacom Bob Bakish $20m + 9.4m bonus
2018 Shareholder return: 24.5%
One of the lower compensated but still not too shabby.
Who makes the big bucks in HWD? It's the illusive helmers that function below the social radar that their companies control.
Jim Lavorato, President
Entertainment Equipment Corp.