Study: 6 Of Top 10 Best-Paid U.S. CEOs Are Media Executives
May 26, 2015 at 4:19 AM (PT)
Six of the top 10 best-compensated CEOs in American industry are media company executives, according to a study by the ASSOCIATED PRESS and EQUILAR.
DISCOVERY COMMUNICATIONS CEO DAVID ZASLAV topped the chart at $156.1 million in 2014, with LES MOONVES of CBS CORPORATION second at $54.4 million. Also on the list were VIACOM's PHILIPPE DAUMAN, DISNEY's BOB IGER, COMCAST's BRIAN ROBERTS, and TIME WARNER's JEFF BEWKES.
Among the reasons offered for the high pay of media executives, UNIVERSITY OF CHICAGO BOOTH SCHOOL OF BUSINESS Professor STEVEN KAPAN suggested, "The talent, the actors and directors and writers, they're being paid a lot of money. In industries where the talent makes a lot of money, the CEO makes a lot of money as well." Also cited were peer pressure, concentration of shares in a few major shareholders (like CBS and VIACOM's SUMNER REDSTONE), and strong performance of the companies.
Read more about the study here.