×

Leslie Moonves Extends CBS Corp. Contract Through June 2021

Leslie Moonves has set a two-year extension of his contract that will keep him at the helm of CBS Corp. as chairman-CEO through June 30, 2021.

The extension comes as no surprise. Moonves has been with CBS since 1995 and has served as president and CEO since 2006, when CBS and Viacom were split into separate companies by controlling shareholder Sumner Redstone. The company, by any measure, has thrived on his watch.

CBS Corp. said the deal calls for Moonves’ base salary of $3.5 million to remain the same during the extension. Last year, Moonves’ ranked among the highest-paid CEOs of a public company with a compensation package of $69.6 million, most of it from stock grants and a $32 million cash bonus.

As with his previous contract that was to have expired in 2019, the extension stipulates that he will be become a senior advisor to CBS Corp. for five years after he steps down as CEO, and it includes an option for Moonves to set up a production pact at CBS, CBS said.

But given the number of contract extensions that Moonves has set during the past decade, it seems unlikely that he’s actually thinking about retirement in 2021.

Moonves joined the CBS network as entertainment president in 1995. He was upped to CBS chairman in 2003.

More TV

  • Writers Guild Posts Scathing Video Attack

    Writers Guild Posts Scathing Video Attack on Agency Packaging

    The Writers Guild of America, which is threatening to require members to fire their agents, has posted a scathing video attacking how major agencies conduct packaging. Titled “Agency Conflicts of Interest,” the video explains that compensation for writers has declined by 23% between 2014 and 2016 and blames the agencies for taking packaging fees on [...]

  • TV News Roundup: 'Million Dollar Mile'

    TV News Roundup: 'Million Dollar Mile' Debuts Exclusive First Look

    In today’s roundup, “Million Dollar Mile” releases an exclusive clip and CBS announces premiere dates for three shows.  DATES CBS has announced premiere dates for one new series and two returning series. The new action adventure series “Blood and Treasure” will debut with a two-hour episode Tuesday, May 21 at 9 p.m. right after the [...]

  • WGA Agents Contract Tug of War

    Agents Accuse Writers Guild of Threatening to Throw 'Industry Into Chaos'

    UPDATE – The dealmakers appear to be getting nowhere. Negotiators for Hollywood agents and the Writers Guild of America have achieved little progress at their seventh session on Tuesday, with a chaotic scenario looming on April 7. “When Guild leadership is ready to move on from their declared threatening phase, we stand ready to work [...]

  • Jussie Smollett Empire

    Assessing 'Empire' Options After Jussie Smollett Charges Dropped

    The shocking Jussie Smollett saga took another twist on Tuesday after prosecutors announced they have dropped all charges against the “Empire” star. Smollett had been indicted on 16 counts of filing a false police report, but now that those counts have all disappeared, studio 20th Century Fox finds itself in a sticky situation as to [...]

  • Jussie Smollett

    Jussie Smollett's Legal Drama Eclipses the Rest of His Story (Column)

    Like so many other stories these days, the Jussie Smollett legal saga seemed governed not by coherent logic, but by chaos, and, in its absence of narrative, invites any observer to find in it the story they prefer hearing. Smollett, the “Empire” star who had been in legal jeopardy due to allegations of staging a [...]

  • Contract Placeholder Business WGA ATA Agent

    Writers Guild Plans for Agency Pact Expiration: 'There Will Be Difficult Moments'

    Leaders of the Writers Guild of America have sent members contingency plans for the possible expiration of its agency franchise agreement on April 7 — and admitted that it may be a rocky road. Members received the letter Tuesday from the guild’s negotiating committee as the WGA and agents were about the hold their seventh [...]

More From Our Brands

Access exclusive content