Media company CEOs took home sky-high pay packages last year compared to peers in other industries — sometimes regardless of their company’s stock performance, according to a new report by The Wall Street Journal that examined executive pay levels at S&P 500 companies.
Median pay for media titans was $28.7 million in 2017, compared to $12.1 million for the index. However, while the S&P 500 as a whole posted a positive shareholder return of 19%, the media industry posted a negative return of 3.8%, according to the Journal’s analysis of data provided by MyLogIQ.
The highest paid media CEOs include CBS Corp.’s Leslie Moonves at $69.3 million, Time Warner’s Jeffrey Bewkes at $49.0 million and Discovery Inc.’s David Zaslav at $42.3 million. These companies returned negative 6.2%, negative 3.7%, and negative 18.4% to shareholders, respectively.
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