Annual Meeting June 19, 2015
Time Warner CEO Jeffrey Bewkes received total pay of $32,903,139 in 2014, a slight increase from the year before. This pay is more than double average CEO pay for S&P 500 companies which the AFL-CIO calculated as $13.5 million.
Well over half his pay was in cash, an unusually high percentage for S&P 500 CEOs. Bewkes cash bonus alone was $14.5 million. Of all the S&P 500 companies, Bewkes received the fifth highest bonus.
Three media companies — Omnicom, Viacom and Disney – were among the companies where CEOs had higher bonuses. This is not surprising: An Equilar and Associated Press study found that 6 of the 10 highest paid CEOs this year are with media companies.
Another great analysis of CEO compensation at media companies, by Deadline’s David Lieberman highlights other issues with Bewkes pay, including an, “Out of whack calculation: Bewkes accounted for 60.7% of the $54.2 million awarded to the top five. He made 5.2 times the median pay for the other four.” Lieberman also notes that the number of employees at Time Warner declined by 24.7, following the spin-off of Time, Inc.