April 11--CBS Corp. Chief Executive Leslie Moonves remains one of the most generously compensated executives in corporate America.
The head of CBS -- which boasts the nation's most-watched TV network -- received total compensation for 2014 valued at $57 million.
Moonves collected a $25-million bonus, stock worth nearly $15 million and options valued at $10 million, according to the company's proxy filed Friday afternoon with the Securities Exchange Commission.
Moonves, who has run the publicly traded broadcast company since 2006, has a base salary of $3.5 million.
His 2014 compensation represented a 15% drop from 2013, when Moonves tucked in with a $66.9-million package. Moonves' compensation had been increasing each year along with the value of CBS' stock.
But last year, CBS shares stalled amid a larger industry trend as Wall Street grew nervous about the prospects of traditional media companies. CBS is down about 8% over the last 12 months; however several competitors watched their share prices tumble more than 20%.
CBS shares closed up 40 cents on Friday to $61.60.
Although Moonves' pay package is lofty, he nonetheless had to relinquish the crown as the highest-paid media executive last year.
So far, that distinction goes to Discovery Communications Chief Executive David Zaslav. His compensation package in 2014 was valued at $156 million, largely from stock awards and options that will vest over several years, according to Discovery's proxy filed last week.
CBS' second-highest-paid executive was Joseph Ianniello, the chief operating officer, according to the CBS proxy.
Ianniello's compensation came in at $27 million, which included a nearly $9-million bonus and stock awards of $8.2 million
Executive Chairman Sumner Redstone, who turns 92 next month, received a pay package of $10.8 million, largely made up of a bonus of $9 million.
In addition, Redstone received $13.2 million in fiscal 2014 from his position as executive chairman of Viacom. Combined, Redstone took in $24 million in executive compensation in 2014.
The mogul controls nearly 80% of the voting shares at both CBS and Viacom.
