CBS chief Les Moonves is one of the top-paid execs in media, according to an SEC proxy filing that revealed a total pay package of $36.8 million in 2007.
That was up 29% from the prior year and nearly quadruple the take of CBS chairman Sumner Redstone, who received $9.7 million.
Moonves’ tally included a salary of $5.3 million, a bonus of $18.5 million and the rest in stock options accumulated over several years.
The topper signed a new contract that took effect last October. It will pay him a lower salary and tie his compensation more directly to the perfromance of CBS shares.
The company’s stock has been sagging of late. It declined 21% from its high in July 2007 to the end of 2007, and has dropped 21% more since January.
Moonves earlier this month announced significant cost cuts that hit the TV stations group. The company laid off more than 160 local news anchors, reporters and technicians.