Moonves Re-Ups With CBS Through 2015
CBS Corp. said it has signed a new deal that will keep Leslie Moonves as company chief until 2015. The agreement replaces a current arrangement set to expire next year.
Moonves' salary remains the same, though he will be eligible for an annual bonus and receive stock options and other incentives. The contract also includes incentives to keep the president-CEO involved with the company after his deal expires Feb. 15, 2015.
Contract details will be available when the company files its annual report.
Under Moonves' leadership, CBS joined with Warner Bros. to form the CW network; acquired CNET Networks in 2008; and has seen performance at CBS in prime time remain strong. Last year, revenues were down 7% to $13 billion as the economy turned sour. A renegotiation of CBS' deal to continue carrying the NCAA basketball tournament appears to be Moonves' next principal challenge.
Referring to the incentives built into Moonves' new deal, Sumner Redstone, executive chairman at CBS, stated the agreement "further aligns and strengthens the interests of the chief executive with those of our shareholders."
Recent MediaDailyNews Articles
-
DPAA Taps Enhanced TV Ad Vet Frey As New Chief May 22, 8:08 a.m.
Barry Frey, a long-time cable and interactive television executive who helped pioneer the field of “enhanced ... -
How Social Is Transforming TV May 21, 5:46 p.m.
Live from OMMA Video, Viacom Media Networks is unveiling its findings from “When Networks Network: TV ... -
Chicago Awards O'Hare Digital Signage Biz To Clear Channel Airports May 21, 4:30 p.m.
The Chicago City Council has awarded Clear Channel Airports a five-year contract, with the option for ... -
NDTV Challenges WPP, Tries To Revive Lawsuit In NY May 21, 4:26 p.m.
New Delhi Television is trying to revive its $1 billion lawsuit against Nielsen, WPP and a ... -
Horizon Taps Gambelli As Chief Investment Officer May 21, 4:18 p.m.
Former NBC senior advertising sales executive Marianne Gambelli has landed at Horizon Media as its executive ... -
Ad Council Raises Autism Awareness May 21, 3:41 p.m.
The Ad Council has partnered with Autism Speaks and two agencies, BBDONew York and LatinWorks, to ... -
CBS Scores Big Victory In 18-49 Demo May 21, 3:11 p.m.
Just two days before the finish of the TV season, CBS claims a major victory among ... -
TiVo Boosts Revs, Data Efforts May 21, 2:54 p.m.
TiVo made gains for its first-quarter revenue results with higher cable operator subscriptions.The time-shifting and technology ... -
Updated: Out-Of-Home Trading Platform Integrates With Mediaocean, Posterscope Backs Move May 21, 8:07 a.m.
(Editor's Note: Posterscope denies it is backing ADstruc. A Clarification has been published here.) While ... -
Networks' Top Goal: Ad Dollars Trump Studio-Produced Shows May 21, 8:06 a.m.
With Netflix and Amazon writing hefty checks, it bears watching whether networks will increasingly pick up ...
Be the first to comment on "Moonves Re-Ups With CBS Through 2015"
Leave a Comment