Moonves Compensation Slips to $56.8M For 2015

CBS CEO Les Moonves received total compensation of $56.8 million for 2015, down slightly from the previous year, according to documents filed with the SEC Friday.

Sumner Redstone, who stepped down as executive chairman of CBS and is now chairman emeritus, received $1.8 million, down from $10.8 million.

Redstone, the ailing 92-year-old media mogul who also owns controlling stake in both CBS and Viacom, has been taken to court because a former live-in companion contends he is no longer able to make health care or financial decisions.

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For Moonves, his bonus and option awards were down, but his stock awards rose to $25.5 million  from $14.5 million a year ago.

Compensation for CBS COO Joe Ianniello also slipped slightly to $26.4 million from $27 million in 2014. His stock awards were up but his option awards were down.

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The firth highest paid named executive at CBS was Gil Scwartz, the company’s long time chief of communications. He received $3.8 million in 2015, The CBS documents did not say how much he made in previous years.  

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.