Viacom Cuts Redstone's Salary, Bonus

VIACOM will cut the salary and bonuses of Chairman SUMNER REDSTONE in a move that brings REDSTONE's pay in line with the company's new management and is designed to appeal to shareholders. REDSTONE's salary will be cut from $1.75 million to $1 million in 2007, deferred compensation of $1.3 million will be cancelled, and his cash bonus will drop from $6.1 million to $3.5 million, with $3 million of stock options and $3 million in performance share units.

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