×
You will be redirected back to your article in seconds

Leslie Moonves’ 2015 Compensation Drops to $56.8 Million; Sumner Redstone’s Falls to $1.8 Million

Leslie Moonves saw a drop in his total compensation last year as his 2015 CBS Corp. pay package totaled $56.8 million, compared to $57.2 million in 2014.

In 2014, CBS’ chairman-CEO made $57.2 million, including a $25 million bonus and $25 million in stock awards and options.

However, CBS noted in a Securities and Exchange Commission filing Friday that Moonves has received another $6 million in stock grants earlier this year as part of his 2015 bonus that will be reflected in his 2016 compensation tally. This year’s compensation package includes $3 million in stock grants that he received in early 2015 as part of his 2014 bonus.

Moonves earned a $19 million bonus and $32.6 million in stock grants and options, in addition to a $3.5 million salary.

Amid heightened scrutiny of corporate governance at CBS Corp. and Viacom, the compensation for controlling shareholder Sumner Redstone dropped significantly to $1.76 million, down from $10.8 million in 2014 and $57.2 million in 2013.

In February, the 92-year-old Redstone shifted to chairman emeritus of CBS and Viacom following rising concerns from investors about his mental and physical capacity. Moonves succeeded Redstone as chairman.

Next to Moonves, the second highest-paid CBS exec in 2015 was chief operating officer Joseph Ianniello, who received $26.4 million, down from $27 million in 2014.

According to CBS, Moonves’ compensation for 2015 was closer to $42.2 million if the value of about $10 million in stock awards granted as part of his December 2014 employment agreement extension are stripped out. Moonves’ 2015 haul includes about $1.1 million in payments for security ($513,218), transportation ($371,351) and life insurance ($234,564) that is paid out on his behalf.

Moonves earned slightly more last year than Philippe Dauman, the chairman-CEO of Viacom, who took in $54.2 million including a contract-signing bonus. CBS has had a much stronger performance track record during the past two years than its Redstone corporate sibling, with Moonves earning credit on Wall Street for helping CBS and Showtime move forcefully into the digital future.

CBS shares lost ground for the full year 2015 but are up 14.3% for 2016 to date. Shares were flat for the day at $53.99 at close of trading Friday.

 

More TV

  • Actors With Disabilities Deserve a Hollywood

    Dreaming of a Hollywood Ending for Actors With Disabilities (Guest Column)

    Picture a world in which an actor with a disability wins an Academy Award. Sadly, that storyline remains no more than a Hollywood fantasy. In recent years, the #OscarsSoWhite trending hashtag campaign has shed light on the lack of diversity in the movie industry. Yet ahead of this year’s Oscars on Feb. 24, society’s definition [...]

  • Clark Gable III

    Clark Gable's Grandson, Who Hosted 'Cheaters,' Found Dead at 30

    Clark Gable’s grandson, Clark Gable III, died on Friday morning at Texas Health Presbyterian Hospital in Dallas, Variety confirmed with the Dallas County Medical Examiner’s Office. He was 30. “It’s is with an extremely heavy heart we say goodbye to my beautiful son Clark,” his mother wrote on Instagram. “He passed this morning. I will always [...]

  • Amber Stevens West Keir Gilchrist Ben

    ATX Television Festival Adds 'Greek' Reunion, 'Atypical,' 'Perpetual Grace Ltd' to Lineup

    The eighth annual ATX Television Festival has added a “Greek” reunion and panels for Netflix’s “Atypical” and Epix’s “Perpetual Grace, Ltd” to its lineup. The former ABC Family dramedy “Greek” ran from 2007-2011 centering on a college freshman who wanted to change his image in college and therefore started a fraternity. Currently, the reunion panel [...]

  • jaime camil host tca awards

    Jaime Camil to Star in CBS Comedy Pilot From Alex Herschlag, Jennie Snyder Urman

    CBS has made a late pilot pickup, ordering a multi-camera comedy with “Jane the Virgin’s” Jaime Camil attached to star. The untitled project hails from writer and executive producer Alex Herschlag with “Jane the Virgin” creator Jennie Snyder Urman set to executive produce. In the project, when an outrageously wealthy trust fund baby (Camil) is [...]

  • LA's Finest - Season 1 -

    'L.A.'s Finest' Showrunners Hospitalized After On-Set Accident

    Co-showrunners and EPs Brandon Margolis and Brandon Sonnier have been taken to hospital after an accident on the set of “L.A.’s Finest,” Variety has confirmed with sources. The accident occurred Thursday afternoon at the Port of Los Angeles in San Pedro where the show was shooting, and was caused by a stunt vehicle colliding with a [...]

  • THE ENEMY WITHIN -- "Pilot" Episode

    Jennifer Carpenter on Treating 'The Enemy Within' Character as 'Life After Death'

    After spending eight seasons on a premium cable drama (Showtime’s “Dexter”) and one on a broadcast procedural (CBS’ “Limitless”), Jennifer Carpenter is placing her bets back on broadcast. She stars as former CIA agent Erica Shepherd, who gave up classified information to some very bad people in order to keep her daughter safe, in the [...]

More From Our Brands

Access exclusive content