Bloomberg calculates that “overall compensation for Moonves was almost five times the average of CEOs in the Standard & Poor’s 500 index, underscoring the high pay of media executives relative to other industries.” Here’s the three-year trend for Moonves – about $57.7 million total compensation (salary, bonuses, stock options, etc.) in 2010. $69.9 million in 2011. And nearly $62.2 million in 2012. Moonves got there starting with a base salary of about $3.5 million.
CBS owns about 200 broadcasting ventures (radio and television). If Moonves made a reasonable salary, say $10 million (which is still way too high), those 200 broadcasting properties would have another $52 million to spend. That's $260,000 each. If they each re-hired their receptionists (which are getting fired across the country), that would leave them with $230,000 a piece.
Think those television stations would like to hire another news producer? Think the radio stations would like to have an extra engineer? Or a producer? Or another promotions person? Or all of them? When radio was good, every station employed people at those positions. Now they are an endangered species...for budgetary reasons.
When you stop and do the math, it's really sickening.
