© Copyright 2020 Variety Media, LLC, a subsidiary of Penske Business Media, LLC. Many CEOs who haul in massive stock awards aren't necessarily demonstrating their worth, EPI's Mishel told CBS MoneyWatch this week. It's the same with movie stars. Salaries posted anonymously by CBSSports.com employees. Bakish’s contract will extend for four years from the closing of the deal, and will be subject to one-year extensions. © Copyright 2020 Variety Media, LLC, a subsidiary of Penske Business Media, LLC.

The agreement also notes the termination fees that each company will need to pay if the deal is unable to be closed. FACEBOOK Here’s when your second stimulus check could arrive if Congress passes more economic aid, Want a second home during COVID? Trump shouldn’t expect a similar bounce, CA Notice at Collection and Privacy Notice, http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. That included a base salary of $230,769, a bonus of $3.1 million and stock awards totalling close to $5 million. Quotes delayed at least 15 minutes. ICE Limitations. CBS has called off its search for a permanent CEO, a signal that it is moving closer to initiating merger discussions with Viacom. For comparison, Disney agreed to pay 21st Century Fox $2.5 billion if that merger was blocked. Offers may be subject to change without notice. Venues in Response to ‘No Time to Die’ Delay, Regal, Cineworld Confirms Temporary Suspension of U.S., U.K. Operations, Led Zeppelin Wins 'Stairway to Heaven' Copyright Battle as Supreme Court Refuses to Hear Case, ‘The Witcher’ Season 2 Gets First Look at Henry Cavill’s New Armor, Megan Thee Stallion Delivers Powerful 'Protect Black Women' Statement on 'SNL', Why ‘Tenet’ Was the Wrong Movie at the Wrong Time (Column), The 10 Best ‘Gilmore Girls’ Music Moments, Taylor Lautner Buys Striking Agoura Hills Mansion, Mercedes-Benz’s New Electric Scooter Aims to Bring Luxury to Your Last Mile, Barstool CEO Erika Nardini Named To WWE Board of Directors, Eddie Bauer Celebrates 100th Anniversary With a Stylish New Jacket (And It’s Going To Sell Out Fast). "), The pay gap between CEOs and rank-and-file workers had some members of Congress calling out bank CEOs on the pay disparity earlier this year. The final compensation will fluctuate based on performance and stock price. Regal Cinemas to shut down its theaters in the U.S. CEO compensation rose 940% from 1978 to 2018, compared with a 12% rise in pay for the average American worker during the same period, according to the Economic Policy Institute. Disney heiress Abigail Disney has repeatedly criticized the compensation paid to public company CEOs, calling it "a moral issue" and one that leaves some low-wage earnings sleeping in their cars and rationing insulin. All rights reserved. News provided by The Associated Press. CEO compensation rose 940% from 1978 to 2018, compared with a 12% rise in pay for the average American worker during the same period, according to the Economic Policy Institute. Sitemap | Joseph Ianniello, who took over from Moonves as president and acting CEO in September, received $27.4 million in compensation last year, including a $12.5 million bonus and nearly $12 million in stock awards and options. The overall ratio of CEO to worker pay now stands at 361 to 1, more than quadruple what it was nearly 40 years ago. Live updates: Trump doctors clear discharge, but not "out of the woods yet", Trump says he's going back to the White House tonight, The post-Ginsburg Supreme Court's first abortion case, CDC updates COVID guidelines to include airborne transmission, Some states overpaid jobless aid — and now want the money back, Dramatic video shows rescue of crew fighting wildfire, Why Armenia and Azerbaijan are fighting, and why it could get uglier, Thomas Jefferson Byrd, known for Spike Lee films, killed in Atlanta, Trump and Biden even in Ohio, Biden up in Pennsylvania: CBS News poll, Battleground Tracker: Latest polls, state of the race and more, 5 things to know about CBS News' 2020 Battleground Tracker, CBS News coverage of voting rights issues. "CEOs are getting more because of their power to set pay, not because they are increasing productivity or possess specific, high-demand skills," economist Lawrence Mishel and research assistant Julia Wolfe said in the report from the Economic Policy Institute, a left-leaning think tank. Read Next: Global Bulletin: Steve McQueen’s ‘Small Axe’ Sells Across the World, Supreme Court to Tackle Media Ownership Case, Sinclair Taps Anchor Team for National Morning News Program (EXCLUSIVE), Industrial Media CEO Eli Holzman on Unscripted TV Demand: ‘Our Business Is Booming’, Thomas Jefferson Byrd, Actor in Spike Lee Films, Killed in Atlanta, Led Zeppelin Wins 'Stairway to Heaven' Copyright Battle as Supreme Court Refuses to Hear Case, ‘Saturday Night Live’ Starts Season 46 With Alec Baldwin and Jim Carrey Recreating the Presidential Debate, Why ‘Tenet’ Was the Wrong Movie at the Wrong Time (Column), ‘The Witcher’ Season 2 Gets First Look at Henry Cavill’s New Armor, Denis Villeneuve’s ‘Dune’ Delays Release Date, ‘Mean Girls’ Cast Reunites After 16 Years to Encourage Voting, ‘Schitt’s Creek’ Season 6 Arrives Early to Netflix, Cineworld Could Close All Regal Cinemas, U.K. He will receive a $5 million cash signing bonus, and the extension guarantees him another $15 million bonus.

In forfeited wages, bonuses and … He received a $20 million bonus and $3.5 million in salary in 2017. After Ianniello, CBS chief legal officer Lawrence Tu was the second-highest paid person at the Eye with a 2018 compensation package of $8.9 million. All rights reserved. Former CBS chairman-CEO Leslie Moonves forfeited $34.5 million in CBS stock awards last year as part of the settlement agreement that saw him ousted from the company he steered for more than 20 years amid a sexual misconduct scandal. Ianniello at the time agreed to serve as acting CEO through the end of June. One of the highest paid CEOs in the U.S., Mr. Moonves saw his compensation package dip slightly from the $69.6 million value of his 2016 pay, according to the company’s proxy statement on Friday. "In the 1980s, it became all about creating money for shareholders," William Lazonick, an economist and professor at the University of Massachusetts Lowell, said of the practice of companies spending billions of dollars to repurchase their own stock and artificially driving the price higher.