Monday, May 3, 2010
NYT spotlights big 2009 paydays for media chiefs
Top executives at the country’s largest media companies continued to reel in multimillion-dollar pay packages in 2009, a year of widespread cost-cutting throughout the industry, The New York Times reports this morning. In several cases, the packages even increased from the year before. Among the executives listed: NYT Co. CEO Janet Robinson (left) was paid $4.9 million in 2009, 26% more than the year before, and Chairman Arthur Sulzberger Jr., the chairman, made $4.8 million, a 171% increase. Last year, company-wide employment plunged 18%, to 7,665, following layoffs. Over the same period, NYT stock jumped 69%, to $12.36 a share at the end of the year.