Jan. 24--Media company Viacom's stock slipped last year -- but the company's chief executive, Philippe Dauman, saw his compensation soar 19% to $44 million.
Dauman, 60, received a $20-million bonus in fiscal 2014 -- even though the company's stock declined 9% during the year. Viacom's ratings at its key television networks -- MTV, Nickelodeon, BET and Comedy Central -- also fell.
The compensation information was contained in Viacom's proxy filed late Friday with the Securities Exchange Commission.
Viacom is controlled by billionaire Sumner Redstone.
Viacom is coming off a bruising year, in which pay-TV operator Suddenlink Communications dropped Viacom channels from its lineup, in part because of their drooping ratings. Viacom's shares have fallen nearly 12% during this fiscal year, which began Oct. 1.
Earlier this month, Viacom extended Dauman's CEO contract to run through December 2018. The previous agreement was set to expire in 2016.
During the 2014 fiscal year, Dauman received $3.9 million in base salary, $12.3 million in stock, $7.5 million in options and the $20 million bonus. His bonus was calculated based on several factors, including cash flow and operating income.
Dauman was awarded a compensation package valued at $37.2 million in 2013.
Meanwhile, Redstone received compensation last year of $13.2 million -- a 63% decline from the $36.2 million that the 91-year-old mogul collected during the previous fiscal year.
Redstone's compensation declined because his pension value in 2013 was listed at $26 million with stock option equivalents that Redstone received in 2006.
Redstone, Viacom's executive chairman, then excercised those stock option equivalents during the last year so they were no longer included as pension value.
Redstone also receives a separate compensation package from broadcasting company CBS Corp., which he also controls.
Viacom's chief operating officer, Thomas Dooley, received $35 million in compensation last year -- a 21% increase from the $29 million in compensation that he collected during 2013.
Twitter: @MegJamesLAT
