Linear television continued to decline and a nascent theatrical recovery went sideways.
Most CEOs saw pay packages rise in 2023, some by big multiples.
The actual amount isnt yet public.
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Par, which is looking, put new severance plans for top executives in place last fall.
Not all companies have calendar years.
The SEC requires equity awards be valued at the time they are granted.
Companies note that options vest over years and can remain under water depending on the stock price.
However, pay consultants say, grants reflect the amount companies would like to pay their CEOs.
Its an alignment thing.
The idea behind this is to [give CEOs] the same perspective as shareholders.
The CEO will make money even if the stock only gets part of the way back.
Giving options granted at the bottom of the market can result in windfalls.
Other option awards have higher vesting hurdles from a stock price of $564 to $1,000.
In September, the nations second largest cabler clinched a landmark carriage deal with Disney.
Charter shares ended 2023 up about 14% at $388.
Theyre currently trading at about $261.
Zasis no.
4 this year after Winfrey,Ari EmanuelandTed Sarandos.
The pay then settled a bit, standing at $49.7M for 2023.
FCF is what a company generates after operating expenses, including capital investment.
It is important, because it allows WBD to pay down debt.
The stock ended 2023 up 20% for the year at over $11.
Its currently down at under $8 again.
Labor action swept the nation last year year, from actors to auto workers.
Its true that the media business feels impossibly complicated right now for most.
If you have the wrong strategy, you could be extinct in three years.
But streaming losses werent sustainable and they pulled back.
Netflix reacts
Netflix has two CEOs, an expensive proposition.
The votes are not binding but a low number is not a good look.
The company now requires CEOs to take at least 50% of their compensation in equity.
That was a rather radical change.
The company also pushed out the vesting time for options to three years from one.
If anyone in the business deserves it, its the Netflix guys.
The stock has performed and its the best positioned of all media companies today, says one Wall Streeter.
Ari Emanuel was no.
2 with $84 million as CEO of Endeavor and of TKO Group.
Its prominent across sectors, very much including media.
In February, the IRS said it plans to start auditing personal use of corporate aircraft by executives.
When setting pay, media companies consider the ability to attract and retain executives.
They look at compensation across their peer group.
Says Anderson: Its the Lake Wobegon effect, every child is above average.
