CBS CEO Leslie Moonves Paid $57.2 Million in 2014

By Joe Flint 

CBS Corp. Chief Executive Leslie Moonves received a compensation package valued at $57.2 million in 2014, down 15% from a year earlier, according to the company's annual proxy filing.

Mr. Moonves' compensation was down from $67 million in 2013 when he ranked as the second-highest paid CEO behind Oracle's Larry Ellison. Even with the reduction last year, he is still among the highest-paid in corporate America.

Mr. Moonves' 2014 pay package included a base salary of $3.5 million and $14.5 million in stock awards. His bonus was down 12% to $25 million for a year in which CBS shares fell about 13%.

The company owns the CBS broadcast network, which is the most-watched in the U.S., as well as radio stations and Simon & Schuster Publishing.

CBS Chairman Sumner Redstone's compensation package was valued at $10.8 million and included no stock or option awards, which was also the case in 2013. Mr. Redstone had a total package valued at $57.1 million last year, which included a $45.4 million favorable change in the value of his pension.

Media executives are typically among the most highly compensated CEOs. Discovery Communications Inc. revealed last week that its CEO, David Zaslav, had a 2014 compensation package valued at $156.1 million, thanks to new stock and option awards.

Write to Joe Flint at [e-mail]

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