In a year when he fended off a hostile takeover by Rupert Murdoch, revamped its Turner Broadcasting unit and launched an over the top version of its iconic Home Box Office brand, Time Warner chairman and CEO Jeff Bewkes total compensation stayed fairly steady, rising just 1.2% to $32.9 million.
According to a proxy statement filed with the Securities and Exchange Commission Friday, Bewkes received a base salary of $2 million, stock and option awards of $8 million each and $14.5 million in non-equity incentive plan compensation. Bewkes’ $32.9 million in total comp compares to the $32.5 million he received in 2013.
Last July Bewkes fought off an $80 billion unsolicited takeover bid from 21st Century Fox – Fox dropped its bid in August – and in October steered its Turner networks through a reorganization that saw about 1,500 people losing their jobs. Later that same month, Bewkes tore the cover off HBO’s over-the-top product – later dubbed HBO Now.
Other Time Warner execs received similar raises – executive vice president and general counsel Paul Cappuccio received $8.7 million in total comp for the year, up 11.5%; while EVP of corporate marketing and communications Gary Ginsburg received $4.3 million up 4.9% from 2013. Executive vice president of international and corporate strategy Olaf Olafsson received $4.3 million in total compensation for the year, a 4.9% raise. Chief financial officer Howard Averill, who joined Time Warner from Time Inc. last year, received $8.2 million in total compensation, according to the proxy.
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