Barry Diller, soon to be perched atop two big media groups, didn’t get a bonus from USA Networks last year.
New York conglom, set to split off most entertainment assets to a new unit of Vivendi Universal headed by Diller, didn’t award any bonuses to Diller or other top execs after USA missed certain profit and revenue targets. Diller received $754,000 in salary and benefits last year, compared with $2.6 million in pay the previous year, according to a USA proxy statement circulated Tuesday.
Like most other media congloms, USA was hurt by the general downturn in advertising last year.
Diller got no stock options last year but recorded a $52.3 million gain by exercising stock options. He last was awarded options in 1997.
After it completes its deal with Vivendi U next month, USA will be left with mostly e-commerce Netcos plus cable web Home Shopping Network. In addition to Hollywood major Universal Studios, the new Vivendi Universal Entertainment unit will feature former USA operations including the USA and Sci Fi cable webs and USA Films.
Diller will serve as CEO both of USA Interactive and VUE.